When you are injured in an accident by no fault of your own, you may be eligible to receive compensation for your medical bills and lost wages. Depending on the nature of the accident, payments may be made by either by your insurance company or that of the party at fault. If you end up filing a claim with your company to handle car repairs, you may not realize that the subrogation process can help you and your insurer recover the amount paid.
By definition, subrogation is the method by which you insurance agency recovers money that it pays out to relieve your bills. If you have been involved in an accident for which you are not responsible, technically you would not pay the damages. However, in order to expedite payment where necessary, you might receive funds from your company in good faith that they will be compensated. Your agency will, therefore, initiate subrogation to see to their compensation.
The Process
Insurance agencies typically have a subrogation department that receives these claims in the event of injury or accident. If you have been involved in a car wreck, for example, and your insurance plan pays out the money to have your car fixed, they will then find the agency of the party responsible for accident and make the claim. Assuming the one who caused the accident has insurance, the process may not take very long to resolve.
Let's say the insurance company of the party at fault decides they do not need to pay out the claim, what next? You will likely discuss the next step with your personal injury attorney, but chances are you will file suit against the company to get your due compensation. Depending on their willingness to cooperate, you can either settle amicable or go on to court. If you do, it is important to make sure your lawyer has all the evidence needed to prove your case.
Subrogation is an important step in resolving an accident or personal injury case, in that it allows you and your insurance company to receive reimbursement for monies paid. Your car may be fixed quickly and you will receive what physical therapy and medications are needed following your accident.
It is always a good idea to educate yourself on the proper insurance terms if you are involved in an accident, regardless of who is at fault. The more you know, the better equipped you are to handle any situation.
Kathryn Lively is a freelance writer specializing in articles on Fairfax personal injury lawyers and Wheaton personal injury lawyers.
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