What Is An Auto Accident Release?
An auto accident release form, also known as a settlement agreement, is a document sent by the insurance company where they are asking you to sign in exchange for money. It is basically a contract that you are entering into where you are agreeing not to sue the at fault driver for a certain amount of money. This agreement usually states that you are taking on the risk of unknown or unexpected result from the accident. For example: after you sign the document and been paid, if you get an ambulance bill in the mail the insurance will not come back and pay that bill. It will be your responsibility at that point to pay for any bills related to your accident. Furthermore, you will not be able to sue or recover anything additional from that other party from that point forward if it is related to that date of accident. By hiring an experienced Attorney, they should have a complete copy of your medical records and ask you about different bills that might still be pending. This way you can make an informed decision about an auto accident release and if it is your best interest to sign the settlement agreement.
You Assume the Risk of Future Damages
As stated above, you assume the risk of any future damage or injuries you have that you might not know of right now, but discover in the future. After an accident, you might not know the full scope of your injuries and how much your bills and treatment to recover will cost. Often times the insurance company will offer you a small amount of money in a hope to get release from you before you know the full amount of how much you may have been injured. The insurance company does not have your best interest at heart. The insurance company only cares about limiting the risk they may face and not paying out a large amount of money. By signing a release without speaking with an experienced car accident lawyer you may be taking a gamble with your health and finances.
If the insurance company offers you a check and says this will cover a couple of doctor’s visits, be wary. More than likely that check has written on it the terms “Full and Final Payment.” This is a sneaky way the insurance company can also get a release from you with your knowledge. By having on the check full and final payment they have basically entered into a contract with you and you signed it. You should not let insurance companies take advantage of you, speak with an experienced car accident lawyer to see what options you may have available to you following and accident.
Are All Your Medical Expenses Paid?
When reviewing a settlement agreement, it is important to ask yourself if all of your expenses going to be covered by the amount of compensation, they are offering you. Often you auto property damages can be addressed rather quickly. But other damages such as medical bills and the need for medical treatment can be more difficult to calculate. For instance, what sort of medical bills will you have? Do you need Surgery? Does the settlement cover lost wages? Is pain and suffering included?
An insurance company may try to settle quickly, before you have a chance to determine the scope of your injuries and damages associated with a car accident. Headaches might not seem that bad, but could be a sign of a concussion or other neurological injury you may have suffered. Before signing any release, it is always best to be checked out by a chiropractor and or a doctor to see if any of those minor aches and pains need medical treatment. Unless your doctor as given you a clean bill of health, you probably should not sign an insurance release yet.
Talk To An Experienced Car Accident Lawyer About An Auto Accident Release
A first offer might mean that there is room to negotiate for a higher monetary amount. The more eager the insurance company is to offer you money usually indicates that they are concerned about the risk of exposure that they might encounter from an auto accident. By taking the time to speak with an experienced auto accident lawyer about an auto accident release you will be protecting your best interest. It also allows you to take the time determine the full scope of your injuries and get medical treatment, gather your medical bills, and be fully informed about before signing a release. If you would like to know more please visit our main car accident page to get additional information about the subject. Feel free contact the Pascoe Law Firm at 713-829-4317.
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