Friday, April 18, 2008
What is "Medical Insurance" Doing on Your Car?
Ever since they went to "unleaded gasoline" and catalytic converters your auto insurance policy has "medical insurance". This has caused some of you to wonder, "Will I outlive my car?". Well, the answer might surprise both of you!
1. Gullible: A word to describe those of you that actually believe the above paragraph has any basis in fact.
2. Truth: What you really want to hear.
3. Mocking: What I am doing to your lack of insurance knowledge even as you read this.
Medical Insurance: Is part of your auto insurance simply because most group and individual health insurance policies exclude the first $5,000-$10,000 of any auto accident related injuries.
Why do they do this???
I really don't know!
It is one of those elusive mysteries of the insurance industry. Its as if the health insurance industry got mad at the auto insurance industry while feuding over medical claims filed by the "Hatfields and McCoys".
Health Insurance Industry: "Oh yeah! Why should we have to always pay for the drive-bys? We spend $10,000 on a Hatfield or a McCoy and you guys get off with a little "Bondo over a bullet hole"!"
Auto-Insurance Industry: "Its always about you, isn't it? You don't hear us complaining about all those ambulances out there going more than 5 miles over the speed limit! they should sell those things with "tear-away" bumpers!
So, there you have it folks, the reason why most states make you get one license to sell health insurance and another one to sell car insurance. they won't even work together on licensing let alone deductibles.
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