Frequently Asked Questions
Who is Bell, LLC or Bell Subrogation Services?
Bell, LLC is a privately owned business located in Florida that provides insurance claim recovery services for clients.
Why did you contact me?
You were identified as being involved in an accident or owning a vehicle that was involved in an accident and we are attempting to obtain your insurance information.
What is the Financial Responsibility law?
The Financial Responsibility Law is a state law that requires an individual to prove that he or she is able to pay for damages resulting from an accident. In most states, you are required to legally drive a vehicle. If you do not, your driving privileges may be suspended.
Does my state have a Financial Responsibility Law?
You can contact your Department of Highway Safety and Motor Vehicles to determine if your state has a law and what it says.
Can my driver’s license be suspended?
Yes, in some cases it can. Depending on several factors and circumstances, we can petition a state Department of Motor Vehicles to suspend your license. Ultimately it is up to the DMV to suspend or not.
What is subrogation?
A situation where an insurer, on behalf of the insured, has a legal right to bring a liability suit against a third party who caused losses to the insured. Insurer maintains the right to seek reimbursement for losses incurred by insurer at the fault of a third party.
What is a “Release?”
A “release” is a legal document Property Damage Release of Claim. It is typically executed after a damage settlement has been agreed upon.
What is a “Conditional Release?”
A “Conditional Release” is a legal document that documents an agreement of repayment terms for the damage claim that allows an individual to get their driver’s license back while making payments.
What is a “Bond?”
In some states an individual can post a bond with the state Department of Motor Vehicles to get their driver’s license back. Please contact your state DMV if you are interested in this option.
What is the HIPAA law?
The “HIPAA” law is short for the Health Insurance Portability and Accountability Act of 1996. It details the protection of privacy and security of health insurance information. It would typically only apply to an automobile subrogation claim if there were injuries involved in the accident.
Glossary of Terms
Adjuster
A person who investigates claims and recommends settlement options based on estimates of damage and insurance policies held.
Agent
An individual who sells, services, or negotiates insurance policies either on behalf of a company or independently.
Arbitration
A binding dispute resolution tactic whereby a conciliator with no interest in the outcome intercedes.
Broker
An individual who receives commissions from the sale and service of insurance policies. These individuals work on behalf of the customer and are not restricted to selling policies for a specific company but commissions are paid by the company with which the sale was made.
Carrier
A company that offers and/or underwrites insurance policies.
Claim
A request made by the insured for insurer remittance of payment due to loss incurred and covered under the policy agreement.
Date of Accident/ Date of Loss
The date in which the auto accident took place.
Deductible
Portion of the insured loss (in dollars) paid by the policy holder.
Fault
Responsibility for an accident or misfortune.
Financial Responsibility Law
A statute requiring motorists to show capacity to pay for automobile-related losses.
Liability
A certain or probable future sacrifice of economic benefits arising from present obligations of a particular entity to transfer assets or to provide services to other entities in the future as a result of a past transactions(s) or event(s). It has three essential characteristics:
1) It embodies a present duty or responsibility to one or more other entities that entails settlement by probable future transfer or use of assets at a specified or determinable date, on occurrence of a specified event, or on demand;
2) The duty or responsibility obligates a particular entity, leaving it little or no discretion to avoid the future sacrifice;
3) The transaction or other event obligating the entity has already happened.
1) It embodies a present duty or responsibility to one or more other entities that entails settlement by probable future transfer or use of assets at a specified or determinable date, on occurrence of a specified event, or on demand;
2) The duty or responsibility obligates a particular entity, leaving it little or no discretion to avoid the future sacrifice;
3) The transaction or other event obligating the entity has already happened.
Litigation
An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself, a judicial contest; any dispute.
Payment Plan
A plan for paying an amount of money. Within a payment plan, the claimant agrees to pay back a certain amount of money each month to repay the total amount due.
Recovery
The action of regaining or securing compensation or money lost or spent by means of a legal process or subsequent profits.
Statute of Limitations
A law which sets the maximum period which one can wait before filing a lawsuit, depending on the type of case or claim.
Subrogation
Situation where an insurer, on behalf of the insured, has a legal right to bring a liability suit against a third party who caused losses to the insured. Insurer maintains the right to seek reimbursement for losses incurred by insurer at the fault of a third party.
Tort
A wrongful act or an infringement of a right (other than under contract) leading to civil legal liability.
Tortfeasor
A person who commits a tort (civil wrong), either intentionally or through negligence.