If you’ve recently been involved in an accident and received something in the mail from the other driver’s insurance company that includes a release of liability, you should consider very carefully how you will proceed. The other insurance company might offer to pay for the damages in the case, but there may be some strings attached that could actually damage your ability to recover the full amount of compensation you might otherwise get.
Here’s a quick overview of what you should know.
What to know about offers from the defendant’s insurance provider
First, it is important to note that you are under no obligation to sign any release of liability or waiver sent to you by the defendant’s insurance provider. You’ll especially want to avoid doing so if it’s still early on in the case, before you’ve got an accurate estimate of the damage done to your vehicle, the costs for repairs and the potential medical bills you have lying in store for you.
Insurance companies will often try to get you to sign releases quickly so you can lock yourself in to a settlement before you know all the facts of your case, i.e. before it could become more expensive for that insurance company. They’ll usually offer around the minimum they can to get your car fixed.
Take your time and make sure you get the proper medical treatment and vehicle evaluations before you make any decisions about how you’ll proceed with the case. If you’re getting pressured by an insurer to sign such a release, it makes sense to speak with an attorney and discuss your alternatives.
For more information about how to maximize the amount of money you can recover in a personal injury claim after an accident, contact an experienced Sarasota accident lawyer at Goldman, Babboni, Fernandez & Walsh.