Health & Fitness
Case Denied: Subrogation!
As a Noun it means; the substitution of one person or group by another in respect of a debt or insurance claim, accompanied by the transfer of any associated rights and duties.
In more simplistic terms it means that IF your insurance company pays your claim and there is another person, place or thing that is responsible for your loss, they will pursue that group and try to collect back the money they have paid to you! If you had a deductible, the first dollars collected back by your insurance company go to you to satisfy that deductible. However, for example if you have a $1000.00 deductible (very common today) and your loss is only $800.00 (under your deductible) your insurance company will not assist you or go after the other responsible party on your behalf. They can only go after the other party if in fact they have paid (or become subrogated) to you! So don't expect any assistance from your insurance company if your loss is under your deductible and there is someone else responsible, as you will have to go after them alone.
To do that you will need to first contact the other party, convince them they are at fault, and to turn the claim into their insurance company. Thus starts a very long and hard fought battle. Chances are you will give up long before any one or any other company pays you for your loss. Even though you have paid your insurance premium for who knows how many years, and they made a "promise" to you, you are on your own when it comes to subrogation for damages under your deductible. I'm not sure your insurance Agent explained that to you when you purchased your policy?
Another reason why (if your deductible is high) to consider using a Public Adjuster. Keep in mind I was a Staff Adjuster for more years than I can remember, but now firmly believe that Public Adjusters play a key role in the insurance claims process.
If you have a Case Denied Story, please share it with myself and others at:
www.casedenied.com
Jeff Weiss
Palm Springs Claims Service
Also please read and review my Kindle E Book "Case Denied"
http://www.amazon.com/dp/B00E3DVOMI
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