Two things determine if you have to pay a subrogation claim. The first has to do with your contract with the insurance company. Each insurance provider outlines your policy’s terms and conditions in its contract. These terms and conditions include whether they have the right to pursue subrogation.
The second factor has to do with local laws. Each state has subrogation laws that apply to residents. Colorado law does not require victims to pay subrogation claims if their settlement doesn’t make them whole, which means restoring them to the financial position they enjoyed before the accident.
Understanding your rights can be confusing, particularly if the insurance company and state subrogation policies conflict. Seek legal advice from subrogation experts to clarify your legal rights. Contact us for a free consultation if you’re facing a subrogation claim or want to pursue a subrogation claim. Our legal experts in Denver, Colorado Springs, Englewood, Aurora, Boulder, and Fort Collins will explain your legal options and what to expect from the legal process. We fight to get you the financial resolution you deserve.