It’s important to understand your insurance benefits before you seek medical treatment after a crash. Knowing how much coverage you have can help alleviate the stress of managing car accident medical bills. Here are some key terms to know:
- Coverage limit: This is the maximum amount your insurance company will pay for medical expenses and other damages.
- Deductible: This is the amount you must pay out-of-pocket before your insurance coverage kicks in.
- Copayments: This is the fixed amount you pay for a medical service, such as a doctor's visit or prescription.
- Coinsurance: This is the percentage of medical costs that you're responsible for paying after you've met your deductible.
- Out-of-pocket maximum: This is the most you'll have to pay for covered medical services each year.