Should I Sign a Settlement Release After My Car Crash?

Signing a settlement release requires deep consideration from a car crash victim. After you’ve been in a serious car accident, there are several things you need to do. Obviously, you need to call 911. They’ll come out and do a thorough investigation of the accident scene. You also need to get to the hospital so you can get checked out. You need to get all the necessary tests done so you can confirm you don’t have any internal injuries.

Finally, you need to file an insurance claim. This is the only way you can get your injuries and vehicle damage covered. If they refuse to pay it, you should hire an Indianapolis accident lawyer right away. You don’t want to waste any time getting the money you deserve.

What you need to be really careful of is letting the insurance company take advantage of you. If you try to handle your claim by yourself, the insurance adjuster will probably try to get you to settle for a lower amount. Knowing you’re probably desperate for money after your accident, they’ll offer what feels like a lot of money if you go away quietly. They’ll promise you the money, telling you that all they need from you is a signed settlement release.

You’ll want to sign that release right away so you can get your money. This could be a huge mistake. Never agree to anything until you meet with an experienced Indianapolis accident lawyer. And you certainly don’t want to sign anything.

Insurance Companies Require You to Sign a Settlement Release to Get Your Money

If you file a relatively small claim with the insurance company, there’s a good chance they’ll pay it. They’re not going to want to spend thousands of dollars to defend a claim that’s only worth a few thousand. But if your claim is larger, they may deny it. They could deny it for one of a dozen reasons. One of the reasons is that they hope they can get you to settle for less at some point down the road. 

Once the insurance adjuster lets you know your claim isn’t going to be paid, you may become desperate. Your car is destroyed. You’ve been out of work for weeks because of your injuries. The last thing you’ll want to hear is that your claim isn’t going to be paid. So, when the insurance company turns around and offers you half of what your total claim was for, you may be tempted to take it.

That kind of money may solve all your immediate problems. However, in the big picture, you’re likely entitled to a lot more than what they’re offering. Plus, they’ll require you to sign a settlement release which prevents you from changing your mind later. You won’t be able to go after them for more money. Whatever you do, don’t sign anything until you have an Indianapolis accident lawyer review it.

Without an Indianapolis Accident Lawyer, You’re at a Disadvantage

When the insurance company finds out that you don’t have an attorney, they’ll be more than pleased. They figure without anyone to steer you in the right direction, you’ll fall for their lowball settlement offer. They’ll promise to give you a lump sum in a certified check as long as you sign their agreement.

What you don’t realize is that, if you accept that money, you’re going to be responsible for paying any outstanding bills you have from the accident. For example, if your health insurance company paid out $100,000 for your medical care, you may have to turn your entire check over to them.

If you don’t and simply spend the money, they can sue you for the entire amount. Rather than let this happen, just call and talk to one of our seasoned Indianapolis accident lawyers.

Call and Discuss Your Case with an Experienced Indianapolis Accident Lawyer

If you don’t have an Indianapolis accident lawyer when you first file your insurance claim, you need to get one. The last thing you need is the insurance company trying to take advantage of you. As much as you don’t want to share your money with an attorney, it’s much better to have two-thirds of something than all of nothing.

Call our office as soon as possible and schedule your free consultation. Sit down with an attorney who’s handled dozens of cases like yours before. They won’t let you be taken advantage of. The consultation is free, so you really don’t have anything to lose.

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