Medical Bills in an Insurance Claim
It is everyone's nightmare scenario: as a result of the negligence of another individual or organisation, you are injured and require medical treatment. This might be caused by, for example, a road accident, an incident at work, or a company's failure to keep their premises in order.In most cases, for example in the case of a road accident, the negligent party will have a statutory responsibility to have insurance of some sort; this will at least need to cover their liabilities for third party expenses, including medical bills. However, the time between an insurance claim and the payment of a bill can sometimes be excessively long; however it is hoped that, in the case of medical bills, these payments will be settled quickly.
Costs of an Accident
Insurance companies have a reputation for being awkward; they derive their profit in part from investment of premiums and in part from the difference between premiums paid and payouts made. As such, the amount that they pay in insurance claims will have a direct impact on their profits.
Claims to Your Insurer
It should be noted that, if you are making a claim to your own insurance company for medical bills, the terms of payment may differ on an insurer by insurer basis. Indeed, this is one of the most important things to ascertain before settling on a policy, as it can have a significant impact on your cashflow in the event of a claim.Most providers of travel insurance will expect you to pay your own medical bills in the first instance, and they will reimburse you upon completion of your subsequent claim. If you are claiming for treatment in the UK, the terms may differ; some insurers will require you to use one of their accredited hospitals, while others will make a cash payment which you can use at your discretion. In this way, some individuals choose to be treated abroad where medical bills can be less severe. In either case, it is vital that you are aware of the payment terms in your policy.