Following a car accident that left you with injuries, an insurance company may ask you to sign an auto accident release form. Typically, the insurance company offers money, or a small settlement, in exchange for you signing this form. This form releases the insurance company and the other driver from any further liability related to your injuries sustained in the car accident. If you are asked to sign an auto accident release form, there is some information you need to know before signing the form. Here is the information you should know before signing an auto accident release form.
You Cannot Rescind an Auto Accident Release Form
It is extremely important to understand that once you sign an auto accident release form, you are releasing the insurance company and the other driver from any and all further liability related to the accident. This means that if you discover you are more injured than you originally thought, or your medical expenses are higher than estimated, you are out of luck if you signed a release form. You cannot go back and ask for more money or re-open any personal injury claims.
Auto Accident Release Forms Are Rarely in Your Best Interest
Before signing an auto accident release form, you also need to understand that it is rarely in your best interest to do so. Insurance companies want to get you to sign a release form early on in the claim before you know the full extent of your injuries and how much your medical expenses will cost. This helps them to minimize their exposure and the amount they will have to pay out. While getting money quickly may entice you, it is rarely beneficial for you to take money early on.
Always Consult With a Personal Injury Lawyer Before Signing any Insurance Forms
Lastly, before you sign an auto accident release form, you should take the time to consult with a personal injury attorney. Personal injury attorneys offer free consultations and do not charge you any money up front for retaining them. Before you sign any insurance form, meet with an attorney. They can explain to you exactly what you are signing, any potential consequences of signing the form and whether it is in your best interest to sign the form.
Insurance companies want to get you to sign an auto accident release form to end your case and settle it for as little as possible. However, once you sign the form, there is nothing you can do if your injuries or medical expenses are more substantial than you originally thought. As such, it is always in your best interest to consult with a personal injury attorney before you sign any insurance forms, including an auto accident release form. This helps to ensure you are treated and compensated fairly by the insurance company.
For more information, check out a law office like Prediletto, Halpin, Scharnikow & Nelson, P.S.Share