A waiver of subrogation is an insurance policy endorsement that allows a policyholder to waive the right of allowing their insurance company to seek financial compensation for a loss from the at-fault insurer's carrier. Simply put, when the process of subrogation is waived, your insurance company is prohibited from going after the at-fault
Essentially, subrogation is the insurer's right to recoup its losses after paying a claim. The principle of subrogation serves two main purposes. Firstly, it ensures that the insured doesn't recover more than the actual amount of the loss – either from the insurer, the party at fault, or both.
Legally, subrogation is an insurer’s right to pay out a claim and then seek reimbursement from an at-fault third-party responsible for the loss or damage. This right is typically outlined in your insurance contract, forming a fundamental part of the agreement between you and your insurer.
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what is subrogation in insurance
