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Medical Payments coverage or MEDPAY is a barely known auto insurance provision. In short, MedPay is no-fault insurance even when a state does not require no fault coverage. This means that if you are injured in an automobile accident (regardless of who was at fault) and have elected to purchase this optional coverage in the state of Georgia, your insurance company will make payments to your medical providers up to the elected coverage amount. Most insurance companies sell coverage amounts of $1000, $5000, $10,000, $25,000, and $50,000.
In many states, medical payment coverage is mandatory for the insurance company to provide within each policy. Unfortunately, in Georgia, it is not required. Therefore, insurance companies and agents do not routinely offer the coverage unless you ask for it!! It is very affordable coverage, costing less than $10 a month for $10,000 of protection with most carriers.
There are a few reasons it is important to have this coverage added to your policy if you do not have it. First, on the smaller accident claims, most insurance companies are using a formula that offers less than the amount of your medical bills. Why is that important? It would be an injustice for you to have to pay out of pocket for your medical expenses as a result of someone else's mistake.
Of course, you could have medical coverage through your work. However, if you take a close look at your medical insurance policy, most have a provision that allows your insurance company to be reimbursed if you receive any payments from a third party as a result of an accident (ie: the other driver's insurance company pays a settlement.)
A second reason to carry MedPay is the flexibility of what is covered. Many medical insurance policies do not cover chiropractic care. Whether you are a believer or not, chiropractic treatment is more appropriate for auto accident victims than any other form of therapy. A chiropractor that specializes in the treatment of auto accident victims will ensure that both the structural and and soft tissue components of the injury are addressed with proper therapy.
Finally, if you have older parents and worry about them driving on the road, it can be very beneficial. The older we all get, the harder and longer it becomes to recover from injuries. An injured elderly person can often be forced into permanent assisted living, which is very costly. Substantial MedPay coverage can defer some of those costs. ** A one million dollar umbrella policy is very advisable for older drivers. **
Call your insurance agent today, and ask how much it would cost to add this coverage to your policy. For a few dollars a month, you have the security of knowing that your medical bills will be covered should you be involved in an accident!