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  • Paul Fulmer

JARGON LINGOSPEAK

Boys and girls, the insurance industry is full of their own words to communicate with themselves. For today, we are going to take a look at the word Subrogation. No one outside of insurance really uses this word. It's a term similar to the word "restitution", but more generally refers to "collecting from the at fault party". For example, lets say someone hits your car. Since you have an insurance contract with your insurance company, your company may respond first and take care of you. Your insurance company will then go against the other party (or the other parties insurance company) and collect back what they paid to fix your car. Sorry, no you don't get to collect under both, but thanks for playing! If you have any other insurance jargon you want to know about, please let us know!


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