your colorado traffic accident an attorney’s perspective
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MEDICAL PAYMENTS & YOUR INSURANCE RATES Been in an accident in Colorado? One of the common misconceptions I come across is the impact of using your medical payments coverage after an accident. - PowerPoint PPT PresentationTRANSCRIPT
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YOUR COLORADO TRAFFIC ACCIDENT | AN ATTORNEY’S PERSPECTIVE
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MEDICAL PAYMENTS & YOUR INSURANCE RATES
Been in an accident in Colorado? One of the common misconceptions I come across is the impact of using your medical payments coverage after an accident.
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Many accident victims believe that if they use their insurance for accident-related medical payments, their rates will increase. Rates are typically based upon:
At-fault accidents Driving record Age Credit history Year and make of vehicle
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Being a victim of an accident is not a ratable incident. Taking advantage of the coverage you purchased from your insurer, will not result in a rate increase.
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Medical Payments Coverage is a first-party coverage that typically pays for the medical expenses of the insured (usually the driver), his/her family and guests in the insured vehicle (there are a few policies that limit the coverage to the insured only).
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The benefit of this coverage is that there is no deductible and thus there are no out-of-pocket expenses.
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I’m Attorney John J. Mattey of SoCo Law, providing insight to support your understanding of your rights and the law in the Colorado area, serving areas including Pueblo and Colorado Springs.
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I specialize in personal injury and insurance claim cases. The preceding has been provided for informational purposes only and is not intended as legal advice
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As such, you should not rely on any of the statements made herein. If you have questions about a pending matter, we urge you to consult counsel. Finally, the time to act is typically limited so we encourage you to do so as soon as possible.