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Medical Payments Coverage
What is medical payments coverage?
Medical payments coverage will pay for the medical
expenses you and your passengers incur in a car
accident, whether or not it was your fault. This
is similar to personal injury protection and is
often purchased in place of no-fault insurance.
It also covers the medical costs of pedestrians
that you may injure. It does not, however, cover
any property damages that occurred in the accident,
for either party.
Who needs medical payments coverage?
If you do not have a no-fault insurance plan that includes personal injury protection, then you need medical payments coverage. Many states take care of this decision for you by outlining exactly what kind of medical and personal injury insurance protection everyone is required to have. Check your state requirements first as you pick and choose the policies that are right for you.
How much medical payments coverage do you need?
You need to purchase, at the very least, the
minimum amount of medical payments coverage required
by your state. Many states, however, require a
relatively small amount. For example, some
states may only require that you have $5000 worth
of medical payments coverage. If you are injured
in a car accident, you could easily spend more
than that in hospital stay, tests, and other related
expenses. If injuries incurred in the accident
extend to other passengers in your car or the
other car, you may have to reach into your pocket
to pay the additional costs. It's a good idea
to purchase as much medical payments coverage
as you can afford.
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Can my health insurance take the place of medical payments coverage?
If you live in a state that requires you to have
no-fault insurance (which has a section that is
devoted entirely to personal injury protection
and is much like medical payments coverage), you
probably won't need to buy medical payments coverage.
However, health insurance alone is not sufficient
if you do not also have a no-fault car insurance
policy. Your health insurance will not cover passengers
in your car or other cars, while medical payments
coverage will. It will even cover funeral costs,
while your health insurance won't. It will also
make up the difference if you are seriously injured
as a passenger in someone else's car and the driver's
insurance is not sufficient to cover you. Your
health insurance will most likely not cover any
of these things.
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