Cheap Home Insurance Dangers - Overland Park, KS - Medical Payments

Low cost home insurance is what we all want! Unfortunately, there is a fine line between low cost home insurance and cheap home insurance. Cheap home insurance will likely be sacrificing something of need in order to get the cost of the policy as low as possible while low cost home insurance will be proper coverage offered at a competitive rate for the value that is received by the policy holder.

One aspect of home insurance that is usually minimized in order to get the cost of a home insurance policy as low as possible is medical payments coverage. Medical payments coverage, commonly referred to as Medpay, is the section of your home insurance that will cover incidental medical bills for an injured party in the event they are hurt on your property.

Examples of when medical payments coverage can come into play would be:

• A neighbor falls on your steps or slips on snow/ice in your driveway.
• A guest at your home cuts their finger, needing stitches, at your home.
• Your dog bites a guest/neighbor.
• Someone falls and injures themselves on your trampoline.

Medical payment coverage is a very important part of home insurance for many reasons and is not one that should be minimized to try and get the price low. Primarily, because the medical payment coverage is not an expensive part of the policy and the policy holder is likely not saving very much.
Medical payment coverage is normally held at $1,000. However, it is recommended that the policy holder increase that to as high as would be available for two reasons. First, again, it's a cheap part of the policy so you may as well get as much as possible. Secondly, many insurance companies will not raise the cost of home insurance due to a claim that utilizes guest medical coverage. If ever guest medical coverage is insufficient to cover damages arising due to an injury, the policy holder's personal liability coverage would then come into play. Using the personal liability coverage does have a risk of affecting future cost of home insurance, so utilizing guest medical whenever would be possible would be preferred to personal liability coverage. Having guest medical only set at $1,000 is leaving the policy holder open for risk that it would be insufficient and they would then need their personal liability coverage AND THEIR RATES WOULD GO UP!

Contact your Agent and discuss your guest medical coverage on your policy. To review a home insurance option with The Wertzberger Agency, please contact us at 913-383-3276.