For most of us, the doctrine of subrogation will never come up unless we are involved in the process. This specialized field of law has been around since the Court of Chancery. Subrogation law first developed in the courts of England, the court established in 1792.
Subrogation in its simplest of definitions: substituting one creditor for another. If you purchased a car from one bank and another bank buys that loan this is a simple example of subrogation. Another example would be the buying of mortgages from one bank to another. Without knowing it, you may have been involved with several simple subrogation actions.
Subrogation law, with Insurance, is constantly being used. It is part of nearly every insurance contract. The courts are loaded with lawsuits involving the negligence of a third party and subrogation claims. This is why, as an injured party, you must seek out a subrogation lawyer. Insurance subrogation is a much more difficult and complicated process. Again in the simplest terms, if you are involved in an accident and there are medical bills or damage to your property. Your insurance company will see to it that the bills are paid. After making the payments or sometime before, your insurance company will try to determine more details about the injuries or damages that occurred.
The reasoning behind this investigation, the insurance company wants to know if there may be liabilities with a third party. If there are no other parties involved, the bill is settled. The watch is on for your next premium payment.
If the insurance company determines liability, other than the insured, the search continues for liability attributed to the third party. Insurance subrogation is trying to determine if a payment liability exists from a third party.
That was a lot to take in. Once again, in simple terms, your insurance wants to know if someone else can foot the bill.
Here are some aspects of subrogation that must be in place to be valid:
1.You must have a valid contract between you and your insurance company.
2.Your insurance company must pay, or indemnify, all of your bills as stipulated by your contract before it can claim subrogation. Simply put, your insurance company has to pay you before going after the other person.
3.You must have a legal right against the third person who caused or was complicit in the accident before your insurance company can claim the right of subrogation.
If all of the above are in place, then your insurance will consider a claim of subrogation on your behalf. Here is a point to consider, never sign any contract that includes the right to waive subrogation. A sub-contractors contract will usually have a waiver of subrogation clause. If you do sign this type of contract, your insurance company has the right and most likely will, deny you coverage and not pay the bills. The reason being, you have interfered with their right to reclaim damages against the third party. The bottom line, read and understand what you sign. Consult a subrogation law office and an experienced subrogation lawyer if you have any questions.
Here are some actions you can take on your own to help in the process of paying your for the damages and if need be recovery. When your insurance claims a right of subrogation, this action is on your behalf and can only benefit you. Any actions to help with the process are perceived in a beneficial way.
1.Find out as much as you can about anyone involved in the accident. Specifically, the ones who caused the damages against you.
2.If you have no personal injuries, start taking photographs and take a lot of them. Get out the phone and start clicking everything about the damage itself.
3.Call Police and emergency personnel to the scene. Get the accident number.
4.Get as many details and contact numbers of all the other people who saw or were involved in the accident.
5.Prepare a written statement, try to remember all the small details.
Finding the right lawyer in matters of insurance subrogation and the impact on you cannot be overstated. The law offices of Stephen Barker can provide the guidance and support needed to help with your claim. This subrogation law office has more than 15 years of property damage experience. Each case handled individually and with expertise. Other areas of practice for the Stephen Barker Law Offices are business litigation and condo/homeowners property disputes. Graduating from law studies at George Washington University in Washington D.C. Stephen has been involved in law for over 30 years. His experiences led him to his own litigation firm in Florida. His practice has expanded into all areas of property management law.