Auto Insurance and Your Credit Score

The North Gilbert Breeze recently had a very good article written by Keith R. Nelson, an associate at Rowley Chapman Barney & Buntrock, Ltd. The article appeared under the “Law Talk” section and discussed how not having Medpay in your automobile insurance can adversely affect your credit rating should you be involved in an automobile accident. Keith cites the manner in which insurance companies are stalling in making payments on claims in this difficult economy. What this does is then cause you to have to pay for your bills up front as you wait for your insurance company to send you the payment. Well, if you can’t cover these costs in a timely manner then it can severely affect your credit. The solution is to sign up for Medpay in your coverage. Here is how he explains these concepts:

Medpay is coverage that provides money upfront to help pay accident related medical expenses, co-pays, and other non-covered out-of-pocket medical expenses resulting from an automobile accident. Along with providing immediate payment to medical providers, medpay also provides the peace of mind that credit ratings will not be ruined simply because of an auto accident. If you have recently cancelled your medpay coverage or have never had medpay, please contact your automobile insurance provider for a price quote.


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Check out the full article for more information.

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