by Guest » Wed Oct 08, 2008 07:36 pm
Hello, I rear ended another vehicle and did considerable damage to it. It was completely my fault. My insurance had expired two weeks before the accident. There are reasons for this but that is not here nor there.
After the accident I recieved a phone call from the person I had the accident with and they were requesting money. I ended up paying them $2000. I have proof of tgis, too. However, the insurance came after me with a bill around $3000. Now, I don't know how the law of subrogation really works, but I did read that if you reach a deal with the individual person involved in the accident that the insurance company cannot come after you for that money. That because a deal was made with the person of the actual accident, that they have given up their rights and the insurance company rights to collect this money.
Am I completely wrong? And what are my options in this case?
Thank you.
After the accident I recieved a phone call from the person I had the accident with and they were requesting money. I ended up paying them $2000. I have proof of tgis, too. However, the insurance came after me with a bill around $3000. Now, I don't know how the law of subrogation really works, but I did read that if you reach a deal with the individual person involved in the accident that the insurance company cannot come after you for that money. That because a deal was made with the person of the actual accident, that they have given up their rights and the insurance company rights to collect this money.
Am I completely wrong? And what are my options in this case?
Thank you.
Posted: Thu Oct 09, 2008 03:02 pm Post Subject:
Good point.
Posted: Fri Oct 10, 2008 07:03 am Post Subject:
Since you were the party at-fault the insurance company is right about coming after you for the damages. They can't be blamed.
When you have paid the other party $2,000 you should have collected the release from responsibility letter signed in order to avoid further complications. However, you still may have a chance if you can prove before the other party's insurer that you have already paid its client $2,000 for the damages.
The other insurance company will charge you for the entire amount ie. the cost of repair plus the deductible paid by its client. Hence, if the total bill is of $3,000 and you have already paid 2k to the other driver then you're required to pay 1k only towards the bill.
Hope it clarifies.
Posted: Sat Oct 11, 2008 01:07 am Post Subject:
So if the other party excepted this and later they (the other party) finds they even susstained an injury...their pretty much out of luck correct? Wow I really hate to be uninsured. Thats kind of scary.
Posted: Sat Oct 11, 2008 02:07 am Post Subject:
this seems to be a very bad scenario for you...
Posted: Sat Oct 11, 2008 09:40 am Post Subject:
So if the other party excepted this and later they (the other party) finds they even susstained an injury...their pretty much out of luck correct? Wow I really hate to be uninsured. Thats kind of scary.
ONLY if there was a release in this case there is none.Posted: Mon Oct 13, 2008 11:18 am Post Subject:
I guess if I would have thought about it a little longer I would have relized a release would have had to be signed. One of those Duh! moments for me.
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