Part 2: Medical Payment Coverage

The second part of automobile insurance coverage is medical payment coverage. Medical payment coverage pays for all accident-related medical costs and funeral expenses incurred by you or your family members within three years of an accident. Medical payment coverage also covers policyholders and their family members when in others’ vehicles, or when policyholders and their family members are on foot and hit by a car. The recommended minimum medical payment coverage is $50,000.

Medical payment coverage does not cover all medical expenses, however. For example, it does not cover your medical expenses if you are injured by a vehicle that is not designed for public streets, such as an unlicensed three- or four-wheel all-terrain vehicle. Be sure you know what types of injuries are excluded from your policy.

Automobile Insurance Explained
Part 1: Liability coverage
Part 2: Medical payment (see above)
Part 3: Uninsured/underinsured motorist coverage
Part 4: Comprehensive physical damage coverage

Comments

Email Updates

Categories I. Goals II. Financial Statements III. Budgets IV. Tax Planning IX. Insurance Planning V. Cash Management VI. Credit Cards VII. Credit Report VIII. Consumer & Student Loans X. Money & Relationships XI. Investment Planning XV. Miscellaneous Items Archives July 2009 June 2009 May 2009 April 2009 March 2009 February 2009 January 2009 December 2008 November 2008 October 2008 September 2008 August 2008 July 2008 June 2008 Blogroll Clever Dude Five Cent Nickle Million Dollar Journey My Dollar Plan My Money Blog *to get your financial blog added to my blogroll, please e-mail me.

Copyright © 2008-2009 pocket Financial planner