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Chances are, if you own a car, you might be paying for some unnecessary “extra options”. For example, why does one need “medical coverage” under car insurance if you already have health insurance? Have you ever asked your car insurance company what this means? So what if you get into a car accident and you are injured? Will your current health insurance wait for your car insurance to start because you have this “medical coverage”, thus delaying claims? How long will it take, and will it affect your health insurance coverage because of the “long delay,” which will cost you more out-of-pocket medical expenses because you missed the submission day? It all sounds familiar, doesn’t it? But if you don’t have health insurance and you’re injured in a car accident, this “medical coverage” can help pay for some of your medical bills (it was for me).
In general, this “medical portion” of your car insurance may cover the following, but be sure to ask your car insurance representative to explain:
- some funeral expenses
- Passengers who could be hurt while you or a family member is driving
- If you are an injured passenger in someone else’s car
- If you are hit by a car while walking or cycling
- If you need dental care after an accident
- if you need extended nursing services or hospitalization during rehabilitation
- if you need prostheses
So if you’ve been doing some “summer cleaning” and you’re trying to uncover some cost savings because you’re worried about mysterious rising premiums under your health insurance, be sure to call your car insurance. And start asking questions (and be sure to document the answers).
Start with these warm up questions: Do you really need a rental car option if you have a new car? In what way and in what situation does that loss of income actually help you? When exactly does that physical injury happen, and what part of your body?
When you feel heated up to the point that the car insurance rep is sweating, start asking about “medical expense payments.” What is the minimum requirement required in your state? What does it cover? How does it compare with your current health insurance? When does it begin?
Also, don’t be afraid to ask for more discounts, including any new discount You may be eligible. In the end, you may just find that you have saved yourself a few hundred on your car insurance; Have enough to pay your new health insurance premiums… I know I did 🙂
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