Also called the personal or no-fault injury coverage, medical payment coverage pays for the cost of hospitalization and other medical expenses of the driver and passengers in the vehicle involved in an accident, no matter who’s at fault.
Medical payments pay for the medical expenses for the insured, the insured driver, and his passengers after an accident. Since this is a no-fault policy, the insurance provider will pay for all the medical bills, including the cost of hospitalization and other associated expenses, up to the maximum amount no matter who caused the accident. Some states in the US make it mandatory for business owners to have the medical payments coverage.
What Does Medical Payments Insurance Cover?
Also called “MedPay” coverage, this type of coverage is a significant component in commercial vehicle insurance which covers for all medical and accident-related injury costs. MedPay coverage takes care of the insured and his/her employee’s medical expenses no matter the person at fault.
You can really incur a number of expenses on accident-related injuries and other associated medical costs, but you can save yourself from paying these expenses straight out of your pocket. With MedPay coverage, you can be at peace because this type of insurance protects you and your employees from any financial responsibilities caused by an accident. The following are included in medical payments coverage:
- X-rays
- Surgeries
- Nursing services
- Hospitalization
- Checkups and doctor fees
- Prostheses
- Dental surgeries and other procedures
- Emergency medical technician
- Funerals
Do You Need Medical Payments Coverage?
If you want to get the assurance that you and your medical expenses will be properly taken care after an accident, then getting the medical payments coverage is the best thing to do. As discussed before, the MedPay is a no-fault coverage; therefore, it will ensure that you, your employees, and passengers who might be travelling in the same vehicle with you get the medical care you deserve.
There are states in the US which require businessmen to have medical payments coverage on their commercial vehicles insurance while other states do not make it available for them at all. Thus, if you want to learn more about this policy, contact a trusted commercial vehicle insurance provider to discuss with other options for your business needs.