I recently had a client call me and he indicated that he had slipped down the stairs while doing laundry, causing injury to his ankle. He asked if his renters insurance policy covered the cost of going to the doctor to have it checked out.  I explained to him that the medical payments portion of this policy only covered guests that are on the property – not himself or his family members.

Many people are unaware that they have this type of no-fault coverage available to them. The medical payments portion of your homeowners or renters insurance policy covers guest medical bills for injuries that occur on your property, whether they are your fault or not.  So, if your friend is over and slips down the stairs, causing a swollen or broken ankle – you can rest assured that your policy will most likely provide coverage for their doctor visit.

Do you know what your medical payments limit is on your policy? Many policies have a minimum limit of $1000, but you can purchase higher limits.  Given the rising medical costs, it might be a good idea to check your limits to be sure you have a limit high enough to cover medical bills.  Failure to do so could leave you responsible for out of pocket medical costs.  Would you have cash on hand to pay this type of bill?

Check with your insurance agent to see what your current medical payments limit is, and ask what the cost is to increase it. Generally, it is very inexpensive to increase the limit.