Subrogation-Management-Program

LATITUDE SUBROGATION SERVICES

THE BENEFITS OF SUBROGATION IN CAR INSURANCE
If you an automobile owner, you would already be aware of the importance
of car insurance. The car insurance covers for expenses of car damage or
injuries to the drivers or other persons in the event of a car accident.
Having a car insurance or at least motorist liability is legally required in all
states, and it is governed by state laws. Even if you are an insured driver,
you may not be aware of the concept of subrogation and its importance.
Almost all insurance companies have Subrogation Management
departments through which they claim reimbursements from the party at
fault in the case of an accident or injury.

WHAT IS SUBROGATION:
Subrogation is a concept in insurance in which the insurance company
assumes the legal rights of ‘insured person’ to make claims against the
individual or part at fault in the events of an accident or injury. It is
when the insurance company puts itself in your shoes to sue the other
party for damage claims.
To make things simple, let’s look at this example.
You are driving on the highway following the speed limit, a car driven by
an intoxicated driver above the speed limit hits you from the back. You
sustain some physical injuries, and your car is ruined. You make claims
for damage recovery to your insurance company. The insurance
company would ask you questions about when and how and would get
to know that the accident happened because of someone else’s fault.
So, they will engage their Subrogation Services to sue the party at fault.
The insurance company will pay you the damages and will ask the party
at fault for reimbursement.

WHEN THE DRIVER AT-FAULT IS INSURED:
If the other driver would be insured, the insurance company will go
after the insurance provider of the driver. This process is relatively
simple as it involves administrative and legal correspondence
between the two companies. In this case, there will be an
investigation from both ends.
WHEN DRIVER IS NOT INSURED:
If driver is not insured, the insurance company will sue the driver.
Usually, the driver has the liability damage which is required by the
state law. But, this process is complicated and time taking as it
involves legal proceedings, lawyers, and so on.

WHEN BOTH THE DRIVERS ARE AT FAULT:
In case the accident happened because of the fault of both drivers,
there will be a partial reimbursement of the subrogation claim. For
example, the other driver was intoxicated and above speed limit, but
you also ran a red light which caused the accident. In this case, the
reimbursement of claims will be with percentage the of fault of both
drivers. The investigation finds out that it was 30% your fault and 70%
other driver’s fault. So, your insurance company will file a partial
subrogation of 70%.
BENEFITS OF SUBROGATION:
The insurance companies with higher Subrogation Management have
higher performance ranking.
The subrogation takes away the headache of suing other part on your
own which requires paperwork, time, money and knowledge about
laws.
As the insurance company is able to recover part or full amount, it
keeps your premium low.

CONTACT
Address: 1760 South Telegraph Rd,Suite 104
Bloomfield Hills, MI 48302
Phone: (877)454-3400
Website: https://www.latitudesubro.com