After you reach a settlement with the negligent driver’s insurance company, they will not just write you a check for what you are owed. You will need to complete a number of steps to finalize your settlement. An important step in the process is for you to sign a release.
What You Need to Know About Signing a Release of All Claims Form
The insurance adjuster will send you a release form to sign before issuing your check. This is a legal document where you agree to accept the settlement amount. In exchange for your payment, you agree not to pursue any other legal action against the insurance company or the negligent driver for damages associated with your car accident.
Each insurance company will use its own release of all claims form. However, there are some basic clauses in most releases. Here are four important clauses that you need to understand:
- Waiving right to future payments. When signing the release, you are releasing the insurance company and negligent driver from the obligation to pay you additional compensation for your injuries. This means that if your injuries later worsen that you cannot pursue an additional claim for damage.
- Giving up the right to sue. By signing the release, you are waiving the right to sue the at-fault driver and his insurance company for injuries you sustained in this accident.
- Not admitting of fault. Another common clause in a release of claims form provides that the insurance company and negligent driver are not admitting any fault by settling your claim. This will not affect the amount of your settlement.
- The entire agreement. At the end of the release form, there is often a clause that the release is the entire agreement between the parties. This means that you agree that the insurance company did not make any other promises to you that are not contained in the release.
It is crucial to read the release carefully and have it reviewed by an experienced car accident attorney before signing it to protect your legal rights.
If you were injured in a car accident in Norfolk, let the skilled and dedicated lawyers at Tavss Fletcher file your claim and negotiate your settlement so that you receive the compensation that you deserve. Call our Norfolk office today to schedule your free consultation.