Auto accident coverage and adding additional coverage

Accidents happen. Surprise medical bills and unpaid time off from work don’t have to. Auto accident coverage, in the form of Medical Payments Coverage or Personal Injury Protection (PIP) Coverage, can help. 

What? Isn’t that part of auto insurance? 

It gives you an extra layer of protection in case you or your passengers are injured in an auto accident. Suppose your passenger is injured in an accident caused by another driver. If you have Medical Payments coverage, your policy can pay for injuries without waiting to see what the other driver’s insurance may cover. Your insurance company will pay for your passenger’s injuries and then your insurer can seek to recover those payments from the other driver, if they choose to. While each policy is different, they will typically include coverage for dislocations, lacerations, concussions, fractures, eye injuries, burns, dental accidents and accidental death and dismemberment. Many even include things like crutches or lodging if they’re needed. Your VIU by HUB Advisory Team can give you a full list of coverages for the policies you’re considering.

The best part of these policies—aside from not facing financial loss—is that they stay with you. You can move to a new location or change jobs and that auto accident insurance will be right there with you. 

Who needs accident coverage? 

While anyone who has an accident will benefit from having this coverage, there are a couple of groups that would really benefit:  

• People with high health insurance deductibles—if your medical insurance would leave you holding a large bill, auto accident insurance could be a huge help. 
• People who are in no-fault states—it's a legal requirement for these people. 

What are the types of auto accident insurance? 

The specifics of these coverages can vary depending on your state, but in general: 

• Medical Payments (aka medical expense or MedPay) will pay for your medical expenses that are the result of an accident. It does not matter who was at fault, if you were injured, your policy will pay for your care. It might even help pay for your passengers or if you’re hit as a pedestrian. These coverages are helpful for people with high deductible health insurance plans. 
• Personal Injury Protection (aka PIP) is similar. In addition to covering your medical expenses, PIP will reimburse you for lost wages resulting from an accident. This is useful in the event that you need to be hospitalized or if you are temporarily unable to work, but it’s also helpful for smaller time periods too. If you need to go to physical therapy and lose an hour of work a day for that, for example. If you live in a no-fault insurance state, you’ll probably be required to have this coverage.  

You might already have one of these coverages, depending on what state you’re in! If you’re in one of these states, you are legally required to have it. In other states, it’s optional.   

Medical Payments Coverage Required: 

• Maine 
• New Hampshire 
• Pennsylvania 

Personal Injury Protection Coverage Required:

• Delaware 
• Florida 
• Hawaii 
• Kansas 
• Kentucky 
• Massachusetts 
• Michigan 
• Minnesota 
• New Jersey 
• New York 
• North Dakota 
• Oregon 
• Pennsylvania 
• Texas 
• Utah 

What does auto accident insurance cost? 

Less than you think. You can add Medical Payment Coverage or Personal Injury Protection to your policy for as little as $10-20 per month. Your individual rate will depend on a lot of factors so talk to the VIU by HUB Advisory Team or your carrier to get a personalized quote. 

Think you’re ready to commit to auto accident insurance? That’s great! Just remember that not all accident policies are created equal. Don’t assume anything about the policy coverage based on its premium price. Before purchasing a policy, talk to your VIU by HUB Advisory Team and find out: 

1. What is the monthly premium? 
2. How is the payout structured should there be an accident? 
3. What is the deductible? 
4. What ailments does the policy cover? 
5. Are there any exceptions? If so, what are they? 

Let’s work together to get you the best accident insurance policy for your individual needs. Call the VIU by HUB Advisory Team today.