How to File an Insurance Claim Against Another Company

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Filing an insurance claim against another company is something you can do in a few different types of situations. Find out how to file an insurance claim against another company with help from a top insurance attorney in this free video clip.

Part of the Video Series: Disability Insurance & More
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Video Transcript

I'm Frank Darras, America's top insurance attorney. Today, we're going to talk about filing an insurance claim against another company. When you file an insurance claim it can either be a first party claim or a third party claim. A first party claim is when you buy the insurance from your own insurance company. We all buy auto insurance. That's first party coverage. Third party coverage is we get hit by somebody else and they've got their own insurance. A third party claim is when you file against the insurance policy that covers that at fault person or driver. For example you might file a claim against the insurance company of another driver in a car accident. Or you get injured at someone's home. You file a third party claim against that homeowner's insurance. A third party claim or claimant can recover medical expenses, lost wages, and sometimes additional money for pain and suffering or punitive damages. This can also be called the liability claim. The first step is to figure out if you're in a no fault state if you're involved in a car accident. If you are you can't file a third party claim because you've got no-fault. You pay for your own insurance and it pays no matter who's at fault. If you don't live in a no-fault state, and the accident was at least partially the other drivers fault you're eligible to file a claim, a third party claim, against the other drivers insurance company. If you chose to file that third part claim, make sure you have strong supporting evidence that the accident was not your fault. After all, you're not their customer, and you haven't pad a dime in premiums for that third party's insurance. Filing a claim against another insurance company and receiving payment is much slower than when filing with your own insurance company. It can sometimes be easier to do what we call subrogate the loss. You settle with your own carrier first and let them go after the other drivers carrier. For instance, you've got property damage. You settle with your carrier, they go after the other guy to collect the money. To subrogate you file a claim against your own policy. You pay the deductible and allow your insurance to pay you the money due. If the carrier feels the other party's at fault, the may request you subrogate or assign your rights under your insurance policy. So they can try and collect the money on your behalf. If they succeed, and they usually do, they'll get the money paid back to you and usually be able to refund your deductible. Be careful when you speak wit an adjuster from the other insurance company. They frequently try to illicit a statement from you to minimize your damages and ultimately to deny your claim. Don't give any statements or recorded testimony without getting some top insurance assistance. Those details can be found by the adjuster elsewhere such as an accident report or they can talk to witnesses that were at the scene. Be very careful before you give a recorded statement. After receiving payment from the other insurance company they're going to ask you to sign a release and a waiver. This release is your right to come back and sue that insurance company for more money at a later time. Even if you learn new information about your injury or your damages. Don't sign a release unless you've had it carefully reviewed by a top insurance lawyer. If you've sustained anything more than a very minor injury or very minor property damage it's always a good idea to have a top insurance lawyer review the claim before you make any fatal mistakes. I'm Frank Darras, founding partner of Darras Law in Ontario, California


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