There is a coverage on both Ohio Home and Auto insurance policies that might go a little unnoticed of course until it’s necessary.
That coverage is known as Medical Payments. The way that the Cincinnati Insurance Board defines the purpose of Medical Payments Coverage (on an auto policy) is: to pay for relatively small amounts (such as $2,500 or $5,000) of medical expenses, regardless of any fault on the part of an insured. It also provides payment for medical expenses on behalf of the policyholder and resident family members that may have suffered injuries stemming from an accident.
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On a Homeowners policy
This coverage is more of a “good faith” coverage. Medical Payments would be paid out for a situation where you may not necessarily done anything wrong or in insurance terms, negligent, but you feel responsible for your visitor’s injury. Unlike the auto medical payments, they are not payable to the homeowner as you can not be held responsible to yourself in regards to homeowners insurance. An example of this, that actually happened, was an insured’s daughter was visiting, got up in the middle of the night to use the restroom and in the process tripped over their cat and fell resulting in a trip to the hospital. The homeowner in this case did not do anything to cause the fall, but her insurance stepped in and paid $1,000 which were the limits of her medical payments coverage. Another strange situation was a man helping a friend put up a roof and shot a nail through his own foot. He was on the homeowner’s property but the homeowner did nothing wrong. The homeowner offered the coverage right away even though there were no resulting payments made, it showed his concern, or “good faith,” for the man that was injured.
As far as an auto policy
The fact that these payments can be made to yourself and anyone in or around your vehicle can come in super handy if you are involved in an accident. If you are not at fault, the other party’s insurance will not make any medical payments until you are ready to settle. This can put you in quite a bind if you find you need extensive treatment. Bills usually start coming in before the claim is closed and the fact that you would have to pay out of your pocket could be cause for a lot of stress. Unless of course you approach your insurance carrier for the med pay coverage.
Suggested starting point for medical payments coverage is $5,000 which is usually the cost of an emergency room visit. We have also found though that this could be insufficient as we recently had a claimant go to the ER after an accident, was there for five hours and the bill came to $6,500. He is currently thinking of increasing this coverage. The good news is that when the med pay runs out, your health insurance will then kick in. This is another one of those optional coverage’s that we always suggest keeping as it is inexpensive and could make a world of difference if needed.
We would love to talk to you more about med pay coverage’s! Give us a call today, 419-678-2326. Or Click Here to request a quote online!
Andrea AbouJaoude | Service Specialist