What Is Medical Payments Insurance?
Medical payments coverage, part of your homeowners insurance, can help pay for small injuries that happen to your guests on your property, regardless of who is at fault. This portion of your policy is designed to resolve smaller claims so they don't escalate into lawsuits. Medical payments coverage has low limits, typically between $1,000 and $5,000, which is usually enough to amend a situation that calls for immediate medical attention.
So say, for example, your neighbor stops by to bring you some holiday cookies. Real nice guy, that one. Unfortunately, he trips over the Christmas decor on your porch, falls down the steps, and breaks an ankle. Yikes!
Your medical payments coverage can step in so you don't have to empty your savings account to pay for your neighbor's medical bills. It can help cover the ambulance ride, his X-ray, and the cost of treatment, up to the limits of your policy.
Why You Need Medical Payments Coverage
Medical payments coverage usually deters an injured third party from pursuing an expensive liability claim over a relatively small and straightforward expense. This coverage saves everyone involved time and money.
Not all policies include this essential protection, so keep that in mind as you shop around. It is worth noting that Kin's policies do offer this coverage.