One of our previous posts highlighted an option that many individuals overlook when they are involved in an automobile collision – filing a first party claim. If you have collision coverage on your insurance policy, your insurance company will pay for your vehicle repairs. In order to do so, you the insured pay a portion of those costs, which is called a deductible.
If you are not at fault for an automobile collision, the question remains – how can I get my deductible back?
Subrogation, often called “subro,” is the legal process of your insurance getting reimbursed for money paid for a claim from the at-fault insurance company, including your deductible. The term subrogation comes from the Latin verb subrogare, meaning to substitute. Your insurance, as payer of a claim, is “substituted” by the at-fault party’s insurance, legally responsible for the collision. Subrogation is the legal recourse for your insurance company to not only recoup the money paid for your claim, keeping your insurance rates low, but also also allows you to be reimbursed in full for your deductible.
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