How to Deal with Subrogation in Insurance for Cars

There will often be an element of subrogation in insurance when it comes to car insurance to enable insurers to recoup their money. Understanding how this works will enable you to gather all of the information necessary to help them do this.

Tools and Materials Needed:

• Camera
• Paper and pen
• Telephome

Step 1 – Gather Information

Whether you find yourself involved in a minor accident or one that is more substantial, it will be necessary to gather as much information as possible. In addition to obtaining information about the car and insurer of the other driver, you must also record details about the accident itself. If possible, take photographs of the vehicles right after the accident. In addition to the personal information about the other driver, make a note of their physical description and whether there was anyone else in their car. Take down the names and contact details of any witnesses and note the date, time of day and weather condition. All of this information will enable you to draw up a detailed statement in the event that subrogation in insurance is possible.

Step 2 – Minor Claims

If the claim is so small that it falls below the deductible sum, you will find your insurance company will not provide assistance. In this case, the subrogation in insurance will fall to you in order to recover the cost of the repair work. As part of this process, you may find it necessary to provide a full statement. When you contact the insurance company of the other driver, have the policy number and details of their policyholder in hand. In this initial contact, determine whether they have a specific form that needs to be completed and if you are required to obtain quotes. Contact the insurance company prior to getting any work done.

Step 3 – Insurance Company

Where subrogation in insurance is necessary for your own insurers to recover their outlay, you will need to provide them with all the information you have. The most important piece of information will be the registration of the other vehicle, as they will be able to get confirmation of the relevant insurance company from this. If there is any dispute about the circumstances of the accident, you will find it necessary to provide a detailed statement. Depending on how your insurance company deals with subrogation in insurance, you will find they will usually pay your claim before recovering this sum from the third party insurer. You will need to provide assistance if they have difficulty in this regard.

Step 4 – Multiple Insurers  

Where there are multiple insurance companies covering the same accident car insurance risk, you will be required to reveal this. In this situation, each insurer will cover their percentage of the loss. For example, if there are two valid insurance policies that will indemnify the insured risk, they will each pay 50 per cent. Any auto insurance fees that are necessary for these policies will also need to be covered.