Chances are, if you own a car, you might be paying for some unnecessary “extra options.” For example, if you already have health insurance, why does one need the “medical coverage” under car 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 kick in because you have this “medical coverage,” thus delaying claims? How long will this be delayed, and will this affect your health insurance coverage because of a “lengthy delay,” costing you more out-of-pocket medical expenses because you missed the submission day? It all sounds to familiar, right? But if you do not have health insurance and you are injured in a car accident, this “medical coverage” can help pay for some of your medical bills (it did 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 that might be hurt while you or a family member is driving
- If you are an injured passenger in someone else’s car
- If you are struck by a car while walking or cycling
- If you require dental care after an accident
- If you require extended nursing services or hospitalization while rehabilitating
- If you require prosthetic limbs
So if you are doing some “summer cleaning” and you are trying to uncover some cost savings because you are worried about that mysterious increasing premium 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 the rental car option if you have a new car? How does that loss of income actually help you and in what situation? When does that bodily injury actually kick in, and what part of your body?
When you feel warmed up to the point that the car insurance representative is sweating, start asking about the “medical expense payments.” What is the bare minimum requirement needed in your state? What does it cover? How does it compare to your current health insurance? When does it kick in?
In addition, don’t be afraid to ask for more discounts, including any new discounts you might qualify for. In the end, you just might find you have saved yourself a couple of hundred on your car insurance; enough to pay for your new health insurance premiums… I know I did:)
