Do you find some hidden expenses in your car insurance, such as medical care?
Chances are, if you own a car, you’re paying for some unnecessary “extra options.” For example, if you already have health insurance, why do you need car insurance “medical coverage”? Have you ever asked your auto insurance company what this means? So what happens if you are in a car accident and are injured? Will your current health insurance wait for your auto insurance to kick in because you have this “medical coverage” which will delay claims? How long will this take? Will this affect your health insurance coverage due to a “long delay” that will cost you more out-of-pocket medical costs because you missed filing day? It all sounds familiar, right? But if you don’t have health insurance and you’re injured in a car accident, this “medical coverage” can help you pay some of your medical bills (it did it for me).
In general, this “medical portion” of your auto insurance MAY cover the following, but be sure to ask your auto insurance representative to explain:
- Some funeral expenses
- Passengers who could be injured while you or a family member are driving
- If you are an injured passenger in someone else’s car
- If you are hit by a car while walking or bicycling
- If you need dental care after an accident
- If you need extended nursing care or a hospital stay while you rehabilitate
- If you need dentures
So if you’re doing a “summer cleaning” and trying to figure out some cost savings because you’re worried about that mysterious increase in your health insurance premium, be sure to call your auto insurance company and start asking questions (and make sure to document responses).
Start with these warm-up questions: Do you really need the option to rent a car if you have a new car? How does that loss of income really help you, and in what situation? When does that bodily injury actually start and where on your body?
When you feel heated to the point that the auto insurance representative is sweating, start asking about “medical bill payments.” What is the minimum requirement needed in your state? What does it cover? How does it compare to your current health insurance? When is it activated?
Also, don’t be afraid to ask for further discounts, including any new discounts you could qualify for. In the end, you might find that you’ve saved a couple hundred on your auto insurance; enough to pay your new health insurance premiums… I know I did 🙂