What Does it Mean if an Auto Insurance Claim is Subrogated?

Subrogation in an auto insurance claim is the process in which your auto insurance company works on your behalf to collect from the other party’s insurance company if your vehicle has been damaged and it is believed that the cause of the damage was the other person’s fault. In addition to physical damage to your vehicle, you may have incurred other expenses as well as the result of an accident. Some of these losses may fall within the scope of an auto insurance claim, such as auto rental or other travel expenses. Your auto insurance company will typically make their … [ READ MORE ]

What Does My Homeowners Insurance Cover?

A standard homeowners insurance policy, also called an HO-6, covers only specifically named perils. A peril can be thought of as a risk, something that can cause damage to your home. Some named perils are broader in scope, meaning more possible losses would be covered under that particular named peril. Others are very narrow in scope and will cover only one or two very specific scenarios. The largest amount of coverage on a homeowners policy is usually for the house itself, also called Coverage A, or Dwelling Coverage. While it is always best to confirm coverage with your insurance agent … [ READ MORE ]