The Importance of Adding MedPay and UIM to Insurance Policies

calculator, personal injuryThe attorneys at Mainor Wirth have noticed a significant increase in motor vehicle accident cases where the at fault party either has no insurance or carries the minimum $15,000 coverage. Even if medical bills and injuries make a case worth more than a $15,000 settlement, these low coverage amounts are typically the only money victims are going to recover. Thus, it’s critical for motorists to protect themselves by having Underinsured and Uninsured coverage for more than the minimum coverage amount.

Under and Uninsured Motorist Coverage

It’s estimated that approximately 12% of drivers in Nevada operate a motor vehicle without insurance coverage. Underinsured and Uninsured Motorist Coverage provides additional coverage for personal injuries on top of the limits set by the other party’s coverage. However, it does not provide additional coverage for damage to personal property including the vehicle. Those who do have insurance coverage typically carry the state minimum requirements which are:

  • $15,000 per person for personal injuries
  • $30,000 per accident for bodily injury
  • $10,000 for property damage.

As such, individuals involved in an accident with a driver who has minimal coverage have very little protection as these sums can be exhausted very quickly. Nationwide, the average cost of medical treatment following an automobile accident is in the neighborhood of $60,000 which is far in excess of the minimum insurance coverage drivers are required to carry. Typically, Underinsured/Uninsured Motorist coverage costs less than $50 per year which makes it a wise investment for all drivers to carry.

MedPay

MedPay can be added to any automobile insurance policy and many Las Vegas personal injury attorneys recommend adding it as soon as possible. There are two primary benefits of adding it to a policy in Nevada. First, it provides instant coverage of medical expenses. There is no need to wait for the other party’s insurance company to pay the bills. Second, it follows policyholders whether they are in their personal vehicle, a passenger in another vehicle, or simply walking down the street.

The coverage is also very inexpensive and typically costs just a few dollars per month for every $10,000 in coverage. It’s protection that is worth its weight in gold because it helps individuals pursue the treatment they need to recover and it also helps protect their personal finances since they don’t have to shoulder the expenses while waiting for the other insurance company to pay.