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| Medical
Payment Insurance is a Worthwhile Investment
by David A. Cardon, Esquire Dear Mr. Cardon, I am about to renew my automobile insurance. My insurance agent told me I could purchase additional insurance called "medical payment insurance." He said it would cost me a few dollars extra and would be in addition to my regular insurance. What exactly is medical payment insurance? What are the advantages to having it? What are its limitations? Is it something I should purchase? In Virginia, every automobile insurance company must offer medical payment insurance. The policy holder is not required to purchase the coverage, but it must be offered. Medical Payment Insurance defined: Medical Payment insurance coverage (also known as "Med Pay") is insurance that pays all reasonable and necessary expenses for medical and funeral expenses resulting from an automobile accident. The coverage is not fault based and is limited to a contracted amount usually between $1,000.00 and $5,000.00. Covered Persons: Those who are covered include: (1) passengers in the insured vehicle, and (2) you (for the purposes of this answer, "you" refers to the person who purchased the automobile insurance) and your relatives living in your home if injured in a vehicle not covered under your automobile policy. For example, suppose you have Med Pay insurance on your 1997 BMW 325. If anyone is injured while driving in your BMW, they are covered. In addition, if you and/or any relatives living in your home are injured while riding in someone else's car, you are still covered under the Med Pay insurance on your BMW. more>> |
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VIRGINIA BEACH, NORFOLK, PORTSMOUTH, CHESAPEAKE, HAMPTON, NEWPORT NEWS |
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1192 SOUTH LYNNHAVEN PARKWAY VIRGINIA BEACH, VA 23452 757-306-9060 EMAIL US |
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Available 24 hours a day, 7 days a week! | |||||||||||
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