I got into a car accident recently. No injuries thankfully. The car damage will be roughly about $3000 (The appraiser has not yet sent me the estimate). The car is not drivable, so I am taking the bus/metro. I also went to the doctor for a checkup (which cost me my basic co-pay).
The adjuster called me and said they will refund $500 towards my travel/medical expenses. I said fine. Today, I got a letter from them saying I have to fill a "Release of All claims" form.
The form basically mentions that they will pay me $500 and says that I will not hold the insurance company or the insured liable for any more claims. Is this a standard procedure? It does not even talk about the additional expenses (approx $3000) which will be towards car-repair.
Please advise. What should I do? It is a typical auto insrance claim with no injuries. Why are they making me sign such a Release of Claims form? Should the form mention about the car-repair expenses also?
2006-11-16 14:37:42 · 4 answers · asked by Shane W 2 in Cars & Transportation ➔ Insurance & Registration
This is a release and it is only for your bodily injury claim. If you are concerned about that, call and confirm. If you want to be paid for your injury you must sign this release. It basically says in exchange for this payment you are agreeing that you will not sue their insured and this matter is concluded. Again, it should not have anything to do with their payment for your vehicle damage. Most insurance companies handle that as a separate matter and do not require a release to be signed for the property damage.
2006-11-16 21:16:38 · answer #1 · answered by Chris 5 · 1⤊ 0⤋
1
2016-09-24 22:19:29 · answer #2 · answered by Celeste 3 · 0⤊ 0⤋
If you sign that release, you will be barred from recovering any future money for bodily injuries sustained. But if you don't really care about suing further, then sign it.
Like any contract you must read what is written. Read it carefully.
If you intend to sue further, then call them and tell them to send you a Release for Property Damage Only instead.
2006-11-17 08:33:01 · answer #3 · answered by Rica 82 5 · 0⤊ 0⤋
That must why he tried to weed out the older cars, it will lower costs. Now we just have to make sure they don't sneak in the death panels at the last minute for our old people.
2016-05-21 21:53:58 · answer #4 · answered by Anonymous · 0⤊ 0⤋