January 7th, 2015
With a wide array of insurance policies available to drivers, it may be difficult to know which one to buy. Every insurance company has certain provisions that are included in an insurance package, and it's up to you to decide on the specific policies you need.
However, the hard part comes when you actually have to select which policies to forego. Because many people think with their budgets in mind, it can be convenient to simply opt for the cheapest plan available. Though this may be a cost-saving technique in the short term, it's not always the best strategy to make sure that you are insured properly.
When it comes to medical expenses, your initial insurance decisions may come back to haunt you. Even if you're a safe driver and have never been in an accident, there's always a slim chance you could be injured. For this reason, it's beneficial to make sure your car insurance package includes some form of medical help.
You may even end up having to pay for other drivers' costs as well, so fully insuring yourself is key to avoiding outrageously high hospital bills.
Finding the right coverage
The many policies that insurance providers offer usually come with some form of medical insurance. For example, even the most basic liability insurance, which is mandated in most states, covers medical costs related to bodily injury up to a certain limit.
But what happens when you reach that policy limit and still have significant costs left to pay?
That's why you need a comprehensive plan that takes into consideration more than just the minimum. Some policyholders opt for personal injury protection, which pays for medical expenses regardless of which driver is at fault. Also, PIP can pay for lost wages and potential funeral expenses.
In addition, medical payments coverage will pay for all your medical costs and remains with you even if you're not driving. Though it's not as expansive as PIP, medical payments coverage is important to have because it can also be used in the event you are injured when riding with a friend or using public transportation.
When these forms of coverage still aren't enough, your health insurance will kick in and pay the remaining balance - though with a deductible and a copay. To avoid these additional charges, having greater medical coverage in your auto insurance package is key.
CoverHound can help you select the insurance policies you need to stay safe.