So why do I need high auto limits? I drive an older car and I’m not a Millionaire! (Part One)

So why do I need high auto limits? 

I drive an older car and I’m not a Millionaire!

(Part One)

First Party Benefits (FPB) -Medical covers the medical expenses of the policyholder (and resident family members) related to an auto accident. One major benefit of this coverage is that the benefits respond regardless of who is at fault for the accident.

In Pennsylvania, FPB is required and applies to all “medically related” bills.   The minimum limit in PA is $5,000 and applies to injuries associated with any motor vehicle (even if you’re injured in someone else’ car!).  The limit chosen is the total amount that will be paid by the insurance company for all expenses per person. The state of Pennsylvania requires that you have the same limits on all vehicles insured on one policy.

Many personal health insurance policies now include high deductibles and limit certain payments such as Chiropractic (one of the most common injuries is being rear ended by another vehicle).  Some personal medical policies (such as Affordable Care & Medicare) require that the person repay the medical payments if they are reimbursed in a lawsuit.

So, imagine you’re injured in an auto related accident.  If you are transported by ambulance or helicopter to the hospital (EXPENSIVE!), and need tests such as X-rays, MRI etc (again EXPENSIVE!) are hospitalized for several days (EXPENSIVE!), need Therapy or Out Patient assistance or visits (EXPENSIVE!)…so do you have enough FPB medical coverage?

I recommend that you ….

           

            Consider increasing your FPB medical limit to $100,000

            Consider adding Extraordinary Medical Benefits coverage

Everyone is different and has different needs, so please call me and have a short conversation to make sure your coverage is appropriate for you and your family!