What is Medpay Insurance?

Today, we’re going to be talking about what is medpay insurance. Med pay is one of the most commonly sold insurances in America and it's one of the least collected and the reason why is people do not know what it is. 

Typically a med pay is on your auto insurance but some people do have them on their homeowners insurance as well and all med pay is is it's a set amount, usually the more standard rate in Arizona is $5,000 and all that is is it's $5,000 up to $5,000 can be used to cover medical bills if a person gets hurt in or around my automobile. Now the nice thing about that is there's nothing to do with fault so if you are walking through my parking lot and you trip over your own feet and you have the luck of hitting your head on my car bumper then you will have the advantage of using my medpay coverage because you got hurt in on or around my automobile. 

Also if I was at fault and ran into a tree and I had to go to the doctors, again my med pay would cover that because it has nothing to do with fault. Now the thing is this is our own automobile or our own homeowners insurance so a lot of times our own adjuster assigned to your case will try to make you feel like you're doing something wrong or dishonest making a claim on that because they'll say, well you know the other guy hit you, why are you making a claim on us, and they make you feel like you're doing something underhanded or dishonest. It is a policy that you have paid for all these years. I probably say every year you've had car insurance your whole life you've had a medpay coverage and it's there to use if you need it. 

Oftentimes it helps cover deductibles and testing that's not covered maybe by your medical insurance. So medpay is there. Look on your own declaration sheet. You'll see it's either called med pay or medical payments and again it's usually up to $5,000 and it's per person per occurrence. So if you're in a car accident and yourself and maybe your passenger gets hurt and has medical bills you can look to your own insurance regardless of who is at fault for the accident - for that med pay coverage and it is something that oftentimes is overlooked and not used which is a shame because we paid for it all these years. I hope you enjoyed this session on everything you need to know about what is Medpay Insurance. So always be sure to contact a professional before making any financial decisions.