🐯 What Is Subrogation In Insurance

Legally, subrogation is an insurer’s right to pay out a claim and then seek reimbursement from an at-fault third-party responsible for the loss or damage. This right is typically outlined in your insurance contract, forming a fundamental part of the agreement between you and your insurer. Essentially, subrogation is the insurer's right to recoup its losses after paying a claim. The principle of subrogation serves two main purposes. Firstly, it ensures that the insured doesn't recover more than the actual amount of the loss – either from the insurer, the party at fault, or both. jjir0Vh.

what is subrogation in insurance