I HIT MY CONDO WITH MY CAR AND DAMAGE IS 2,000.00 MY DEDUCTABLE IS 1500. DO I HAVE TO FILE A CLAIM? MY ASSOC IS SUBROGATING MY CLAIM.
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UPDATED: May 26, 2010
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Insurance Question from New Port Richey, FL
Asked on 05/26/2010
I HIT MY CONDO WITH MY CAR AND DAMAGE IS 2,000.00 MY DEDUCTABLE IS 1500. DO I HAVE TO FILE A CLAIM? MY ASSOC IS SUBROGATING MY CLAIM. CAN MY ASSOC SUBROGATE MY CLAIM IF I AM PAYING OUT OF POCKET
Answer given on May 26, 2010
Subrogation is a right of a a party to claim money owed to another party. The association probably can’t force you to claim benefits under the policy, but depending on the circumstances and your policy, you might:
1. Be required to notify your insurer of the accident, even if you don’t ask for benefits.
2. Be required to cooperate with you insurer or appear in court as a witness, even if you don’t file a claim. Subrogation rights give the association the right to recover whatever it has paid from your insurer. In many cases, the association might be able to file a claim, and either the association or your insurer may require you to provide information.
To summarize, if you pay out of pocket, the association may be able to seek benefits under your insurance policy. Any subrogation rights would be limited to the amount the association paid.
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