medical insignia 1We all buy our auto insurance like the responsible drivers we are. Some opt for minimum liability coverage as required by California law and others decide that 15/30/5 isn’t enough. Especially when a minor fender bender will probably cost more than the $5,000 in property damage a minimum limits policy will pay for. What about the other two numbers? Do you believe $15,000 per person and $30,000 per accident is plenty? Remember this coverage applies to the “other guy.” You are not covered at all.

There is also another coverage called Medical Payments to Others, or “Med-Pay.” This is an additional coverage some people consider dropping to save money on their auto insurance premiums.

Med-Pay will cover your medical bills up to your coverage limit for you, your family and others involved in an accident which riding in your vehicle. This coverage moves with you — walking, riding in another vehicle, or on public transportation — and with your insured vehicles, regardless of who’s driving. Policy limits refer to the uppermost financial coverage available to each covered injured individual, and not a total limit.

There is also another coverage called Personal Injury Protection (PIP) that is similar to Med Pay in that both coverages will pay for physical injuries caused by an accident and because neither is concerned with who was at fault. PIP is more comprehensive but can be more expensive than Med Pay.

Remember that Med Pay only covers injuries pertaining to a particular accident and is in no way a substitute for personal health insurance. In fact, many insurers require that Med Pay limits be exhausted before your health insurance kicks in.

Talk to your insurance professional to see what coverages you are lacking, but will be happy you have if need be. Most people don’t worry about insurance until they need it. Of course, then it is too late to discover you are underinsured, or not insured at all.