Medical Payments Insurance for Renters
Quick Assistance for Guests in Need
You want your rental home to be a welcoming, inviting place for your houseguests. However, you can’t prevent every accident, and sometimes, your friend might wind up getting hurt as a result. With renters insurance medical payments coverage, you’ll be able to help them with their recovery costs.
What Is Premises Medical Payments Insurance?
With medical payments coverage, you can ensure a visitor or guest receives compensation in the event they accidentally get hurt on your rental property.
Even if the accident was not your fault, it still happened on your property. The injured person might want to see if your renters insurance will pay for their losses. If you have medical payments coverage, it might. Regardless of if your negligence caused the accident, coverage can help cover the person’s costs.
What Does Medical Payments Insurance Cover?
Medical payments coverage will generally provide payments for injuries occurring on the premises of your home.
Coverage might help guests who fall in your shower, burn themselves in the kitchen, trip on the corner of a rug or get hurt playing a game in the yard. Policies can even cover injuries sustained from attractive nuisances, such as that trampoline in your backyard.
How Much Is Medical Payments Insurance?
Your medical payments insurance cost will vary based on the amounts of coverage you choose. However, the overall cost will be part of the cost of your renters insurance premium.
We at BluCanopy know that you want to keep your budget in line. Let us help you decide how much medical payments insurance you can afford, but that will still provide you ample protection.
Frequently Asked Questions
1Is medical payments insurance required by law?
Landlords often don’t explicitly require tenants to carry medical payments coverage. However, this doesn’t mean that you can’t benefit from adding it to your policy.
Even if an injured person has health insurance, they can make a claim on your policy to get help with outstanding costs. They might also not have any reason to sue you for their losses.
2Is medical payments insurance the same as bodily injury liability insurance?
Renters medical payments insurance is not the same thing as bodily injury liability insurance.
Bodily injury liability insurance pays for a third party’s injury or property damage cost when the insured party (the renter) is at-fault for those losses. Medical payments coverage can provide coverage regardless of your own fault in an accident. It often helps eliminate a lot of the uncertainty that arises with liability claims and the confusion of trying to determine fault.
3Are medical insurance payments tax deductible?
In most cases, your medical payments premiums and payouts are not tax deductible.
4Which states do you serve?
- District of Columbia
- New Hampshire
- New Mexico
- New York
- North Carolina
- Rhode Island
- South Carolina
- West Virginia