What is the Difference Between MedPay and PIP Coverage?
In the event of an accident where you or someone you love is injured, understanding how to file a claim and receive compensation can be confusing.
When it comes to car insurance, your insurance provider may be trying to sell you different kinds of coverage without explaining how each kind helps you when you need it.
How Does Each One Work?
With MedPay, you receive compensation up to the policy limit for most medical costs associated with an accident, regardless of who was at fault. By having your new MedPay pay the medical bills, you will not have to pay them out of your settlement monies. With the medical bills already paid, you will net more monies for yourself.
MedPay includes (but is not necessarily limited to) coverage for emergency response ambulance services, hospital bills, prosthetics, and even dental expenses.
There are not usually copays or deductibles with MedPay coverage.
MedPay should not replace your regular health insurance.
What is Required in the State of Arizona?
There are four types of insurance required by the state of Arizona.
- $15,000 in liability coverage for bodily injury
- $10,000 in liability coverage for property damage
- $15,000 in Uninsured Motorist (UM) Coverage
- $15,000 in Underinsured (UIM) Coverage
The liability coverage exists to protect you and compensate the other driver (and passengers) in an accident where you were at fault.
UM coverage and UIM coverage exist to compensate you in the event that the at-fault driver was driving without insurance or too little insurance to cover your losses.
Why is More Coverage a Good Idea?
While the minimum coverage above is required, experts recommend carrying insurance beyond the minimum. Many auto accidents resulting in injuries cost more than minimum limits, leaving you to pay your bills out of pocket.
It does not cost a lot more to have substantial insurance coverage as opposed to minimum. If you ever have to use your vehicular insurance because you or another driver were at fault, you will be extremely happy you have the extra insurance.
For more information about how a Phoenix personal injury attorney can help with your case, contact Ray Arenofsky at 480-345-0444 and visit our website. Ray feels that having the right insurance coverage in Arizona is very important. He would be glad to simplify your understanding of what coverage you should have.