Medical Payment Coverage

Jun 16, 2016 (0) comment

When examining a home insurance quote from one of the many insurance companies out there, often times there are a few coverage options that are relatively unknown, especially when in comparison to some of the larger coverage that come standard on most homeowners insurance quotes.   Over the next three weeks, we’ll be breaking down some of the coverage that maybe more obscure, but are still an important part of any home insurance policy you are looking to purchase from a local agent.

The first we’ll be taking a look at is Medical Payments.  Often times when customers call our McKinney agency to discuss the free insurance quotes we’ve provided them with from insurance companies such as: Safeco, Travelers, MetLife, and Encompass, they confuse Medical Payments with Liability insurance.  The two policies are somewhat similar, both often times deal with the medical bills someone might accrue if they are injured in side your house.  However, unlike Liability Insurance, medical payments are not used as defense against lawsuits, and are not an admission of liability.  Medical payments are used as what we like to describe as “good neighbor” coverage.  If, for instance, someone injures themselves at your home falling down the stairs, you can file a claim for medical payments to help pay their hospital bills up to the limit indicated in the quote.

Generally this coverage is much smaller than the amount given for liability.  With Safeco for instance, the policy comes standard with $1000 worth of coverage.  As with all coverage, your local insurance agent can increase this limit as you see fit.

If you’re looking for a local agent to help you out with medical payment coverage you can find us on Facebook , or email us at contact@minsuranceagent.com. If you’re ready for a free insurance quote, you can submit your information at contact us, or call us at 214-733-8400.

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