Subrogation
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Subrogation is when your insurer pays your claim, then chases whoever was at fault to get its money back.
With your own policy, it goes like this: you claim on your policy, right away. They pay for your stuff and your hotel (minus your deductible). Then they chase whoever was at fault. You might even get your deductible back.
From FILE 002: Who pays when the unit above floods you?
Sources
Official and government data first. Every quote is word for word; follow the link to check it yourself.
Policygenius · “My neighbor flooded my apartment”
“your insurance company is going to try to recoup their loss from the at-fault party. This process is called subrogation”
A secondary source, used to explain how the process works.
policygenius.com (opens in a new tab)Policygenius · “My neighbor flooded my apartment”
“your insurance company is going to try to recoup their loss from the at-fault party. This process is called subrogation”
A secondary source, used to explain how the process works.
policygenius.com (opens in a new tab)