Once you finally settle your truck accident claim with the insurance company, you will need to go through a number of steps before you receive your settlement check. One requirement will be to sign a Release of All Claims Form.
You should not sign the insurance company’s release or any other document without first consulting with a skilled truck accident lawyer. In addition, it is important that you understand the key provisions that you will be agreeing to before you sign it.
What Is a Release of All Claims Form?
A release is a legal document that states the terms of your settlement with the truck driver’s or trucking company’s insurance company. It is a legally binding agreement. The release would relieve the insurance company from further liability in exchange for their payment to you.
Provisions Contained in a Release Form
There are a number of provisions that are typically in a release. It is important to understand what they are since they affect your right to compensation for your injuries caused in the truck collision. Your release should contain this information:
- Details of how your crash occurred
- Identification of all the parties to your settlement
- Your claims for compensation, such as for your medical expenses, lost wages, pain and suffering, and property damages
- Amount of your payment and how it will be paid
- Law that governs your agreement
Additional Provisions in a Release That Give Up Important Rights in Exchange for a Settlement
- Obligation to pay. By signing the release, you are agreeing that this is a final settlement of your claim and that you are waiving your right to receive future payments for your injuries. This means that you cannot pursue a new claim if you later discover that your injuries are more serious than you thought.
- Right to sue. You would also be waiving your right to file a lawsuit against the negligent truck driver, trucking company, and their insurance company.
- No admission of fault. The agreement will provide that no party is admitting fault for causing your truck accident. You are waiving your right to claim that the trucker’s and trucking company’s negligence was the cause of your injuries.
If you suffered injuries in a truck collision that was not your fault, our experienced truck accident lawyers are here to fight for the compensation you deserve for your injuries. Call our Norfolk office at 877-960-3441 or fill out our online form to schedule your free, no-obligation consultation today to learn more about how we can help you.
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