Signing a release from an insurance company may seem necessary after an injury. By signing the release, you might be agreeing to a sum of money, but you may also be agreeing to not receive any more money in the future from the insurance company. Before signing a release, you can discuss the release and any alternatives with your lawyer.
Often, an insurance company will offer a quick settlement for the injured person promptly following the injury. These settlements usually do not consider the future damages and losses that you may incur because of the injury. Before you sign any document, you should understand what each one means and how they may affect your case in the future.
Injuries can be very stressful, especially when you consider the pressure that insurance companies may be placing on you with their complicated paperwork.
What Are You Waiving?
Signing a release form can waive many different aspects of your case, including the other party’s liability for the accident and access to your own medical records. Insurance companies may send you many different types of release or authorization forms, such as:
- Medical Authorization Release
- Release of Liability and Claims
- Property Damage Release
A medical authorization release gives the insurance company access to your medical records. This may allow them to find information supporting your injury claim, but could also allow them to find other events or records of your medical history that could put your injury case at risk. Before signing a medical authorization release, it is important to read and understand the documents thoroughly. Legal guidance from a qualified attorney can prove to be critical before signing any of the documents an company gives you.
Liability and Claims
Another release form is a release of liability and claims, meaning you are relinquishing the liability of the at-fault party in the case. This form is required prior to reaching a settlement, and when they are signed the case is closed for good. After signing a release of liability and claims, the case can’t be opened again in the future. Although you will need to sign these documents prior to receiving a settlement, you must understand how these documents are forcing you to completely abandon the case moving forward. After doing so, you will not be eligible for future compensation even if damages result from the injury moving forward. Understanding this, you must look at the consequences that signing this document can have.
Property Damage Release
The final release is the one that begins your settlement and compensation distribution. The property damage release is the confirmation of the cost and the damages that occur as product of your accident.
At Berry Law Firm, we fight for the full compensation our clients deserve. We ensure that they are protected and will provide them the legal guidance and counsel needed with respect to these documents and advise them how to move forward with their cases. Contact us today for a free consultation.