Most people are unfamiliar with subrogation. It’s a legal term. If you have a personal injury claim, understanding the concept of subrogation rights is important. It may affect your financial recovery after a personal injury accident.
If you are injured in a car accident due to someone else’s negligence and your health insurance company covers your medical bills, then your health insurer may demand to be repaid if you later receive an insurance settlement from the at-fault driver’s auto insurance.
Subrogation can reduce the amount of money you collect from a personal injury lawsuit. A lawyer at Craig, Kelley & Faultless in Indianapolis can help you understand how subrogation applies to your personal injury claim and make sure that only valid expenses are repaid.
What Is Subrogation?
After covering your medical treatment of injuries in a car accident, your health insurance company may claim a right of subrogation to be reimbursed for the money it paid out on your behalf due to a crash caused by someone else’s carelessness.
Subrogation refers to the right to collect compensation or payment of a debt that a third party owed to someone else.
When Does Subrogation Apply?
In personal injury claims, subrogation generally refers to a health insurance company’s right to pursue compensation from the insurance provider representing the at-fault party.
The right of subrogation is important to insurance companies. If permits your health insurer to pay your medical treatment after a personal injury accident, then recoup the money it has paid out once the third-party claim is resolved. In a sense, subrogation allows you to receive the medical treatment you need more quickly than if you had to wait for an injury claim to be settled to get treatment.
Subrogation is applicable if an insurance carrier representing an at-fault individual or business is financially responsible for your injuries and medical expenses.
Your insurance company may wish to pursue a subrogation claim against the at-fault party’s insurance to recoup the money it has paid out.
How Long Does an Insurance Company Have to File a Subrogation Claim?
Indiana law allows two years for the subrogation of medical benefits.
What Is a Waiver of Subrogation?
A waiver of subrogation is a contract provision that prevents an insurance provider from seeking to recoup a share of any compensation paid out.
Subrogation rights and waiver of subrogation may be confusing terms to you. It is important to be represented by a personal injury attorney who is familiar with the subrogation process in Indiana. Our attorneys at Craig, Kelley & Faultless can review the details of your car accident or truck accident and explain how subrogation may affect any settlement or court award that you receive. If our attorneys are handling your personal injury claim, we can respond to an insurer’s subrogation letter on your behalf.
To learn more about subrogation and your right to pursue compensation after a serious accident caused by someone else, contact the attorneys at Craig, Kelley & Faultless. Call (800) 746-0226 or use our online contact form. Our attorneys have been helping injured people in Indiana seek just compensation to rebuild their lives for more than 20 years. Let us help you too.
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