What Is Med Pay In Kentucky?
The short answer is that Med Pay is a form of insurance that only pays for medical expenses resulting from injuries sustained in accident. In many states, it is incredibly important to those injured in auto accidents, however because Kentucky is what we call a PIP (Personal Injury Protection) state; which makes it less important in car wreck litigation. The reason being that PIP will cover everything that Med Pay covers, but it will also cover lost wages.
In Kentucky Med Pay Is Important In Premises Liability
Personal Injury Protection (PIP) And No Fault Insurance in Kentucky
What Are PIP And No Fault Insurance In Kentucky?
The Motor Vehicle Reparations Act (MVRA) mandates insurance companies offer Personal Injury Protection (PIP) with all auto insurance polices sold in the State of Kentucky. The purpose of PIP coverage is to allow a driver to have their car insurance company pay their medical bills and other expenses like lost wages without regard for who caused the car wreck. This is why it is often referred to as No-Fault Insurance.
For people involved in car accidents that only caused minor injuries often their PIP coverage will make them financially whole. For someone with more serious injuries that were caused by a negligent driver, it allows them to receive the medical treatment they need and receive payment for lost wages while attempting to resolve the matter with the at fault driver’s insurance company.
How Much Does PIP Cover In Kentucky?
Should I Have Underinsured Motorist Coverage In Kentucky?
What Is Underinsured Motorist Coverage (UIM)?
The purpose of Underinsured Motorist Coverage (UIM) is to protect yourself in case you are injured in an auto-accident by someone who has insurance coverage that is insufficient to cover the cost of your losses.
When most people think of losses in a car wreck the first thing that comes to mind is the damage to their car, but this is often just the tip of the ice berg. Modern medicine is a wonderful thing that can save lives and cure injuries in ways once not thought possible, but if you are seriously hurt in a car wreck you will find the costs of your medical treatment quickly surpass the cost of replacing your vehicle; in addition to lost wages.
Why Should I Have Underinsured Motorist (UIM) Coverage In KY?