Medical payment coverage is one component of a commercial auto insurance policy. You and your drivers should understand what it covers. This feature provides coverage for incidents in which passengers suffer an injury while in your vehicles. Without it, your company may have to pay for these losses out of pocket. That can be very expensive. Here is what you need to know about it.
What Does Medical Payment Coverage Include?
Medical payment coverage is a valuable asset. Imagine a situation in which your driver is transporting a person to a location. The vehicle suffers an accident. Your driver is to blame. In this case, your commercial auto insurance covers the damage to your vehicle. It provides liability coverage to the other vehicles struck by your driver. But, what about the passenger?
He or she could suffer significant amounts of loss. An injury, for example, in a truck, can amount to thousands of dollars of medical bills. With the help of a commercial auto insurance policy, you do not have to worry about these losses. The policy is there to cover it.
Covering Your Injuries
In addition to this, medical payment coverage also applies to your driver’s medical bills. In some cases, your workers' compensation policy can apply here. In others, you may not have that coverage. However, your commercial auto insurance offers protection. This means your injuries, if you are the driver, also have coverage.
A common situation occurs like this. You have a commercial policy on your vehicle. You transport your clients to and from various homes or locations for business meetings. An accident occurs. Your passenger’s losses have protection under this policy. Any medical losses you experience may also apply here. Again, these costs can add up quickly. In some situations, they can exceed any health insurance claims you could make.
What Do You Need to Do?
When buying any type of business insurance, discuss your needs with your agent at 269.441.5156. With this type of coverage, it may already be a part of your commercial auto insurance plan. If not, consider making adjustments and upgrades. A single accident allows this type of policy to pay for itself. And, it can give you the peace of mind you need. Accidents occur all of the time. If you are on the road significantly, they are even more likely. Be sure your company has the necessary coverage for all vehicles in place.
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