release liability auto accident form and its significance..

Message Author
ampm-bookmark
delicious-small Add to delicious
yahoomyweb-small Add to YahooMyWeb
blinklist-small Add to BlinkList
PostPosted: Sat Aug 16, 2008 2:10 am   Post subject: release liability auto accident form and its significance..  

I am ready to settle a claim from an IL auto accident. The driver at fault has the same insurance as me. I had a slight concussion, and really don't care to seek out any additional money for what I experienced. I just want to get medical bills paid and go on with life. My car has been repaired and paid for as well as the rental. The adjuster sent a release liability auto accident form and only included the amount due for medical bills. The form states release from injury and property. Does that mean the automobile repair and rental costs (though already paid through insurance) need to be included in the total dollar amount as well?

lfitzy71
New member
Leave a quick message



Joined: 16 Aug 2008
Posts: 1


1.47 Dollars($)

PostPosted: Sat Aug 16, 2008 5:05 am   Post subject:   

Probably could have but it does not matter much. It's not like they could ask for that money back. You could always reques that they change the amount or send an injury only release for that amount. Personally, I'd not sweat the amount listed but I may request an injury only release and not an all claims release.

tcope
Forum Expert
Leave a quick message

tcope
Forum Expert

Joined: 22 Nov 2006
Posts: 5981

Location: Salt Lake City, UT
358.91 Dollars($)

PostPosted: Sat Aug 16, 2008 5:33 am   Post subject:   

Quote:
The adjuster sent a release of all liability form and only included the amount due for medical bills.




IMO it shouldn't matter much.



The release liability auto accident form is a part of the automobile insurance claim process, which the recipient party has to sign in order to confirm that he will not initiate further claims on the other party for the same damages.
JeremyHolter
Senior member
Leave a quick message

Jeremy Holter

Joined: 06 Jun 2007
Posts: 1185


210.40 Dollars($)

PostPosted: Sat Aug 16, 2008 5:57 am   Post subject:   

Well, I guess they have feared that you might claim against the same injuries in the future. The insurance company is likely to safeguard the interest of their client and therefore needs the liability release letter from you.



Medical injuries can often surface in due course even after getting healed temporarily. The release liability auto accident form then will prevent you from claiming further against the other driver's insurance. It may also limit your chances to file a lawsuit against the party at-fault to recover damages.



Thanks,

jeorge

jeorge
Senior member
Leave a quick message

jeorge

Joined: 07 Oct 2005
Posts: 798


132.82 Dollars($)

PostPosted: Sat Aug 16, 2008 10:36 am   Post subject:   

I agree with all don't sweat it at all...In over twenty years I had a property damage release signed about three times...I think she pulled the wrong release...if you want just scratch that part out...sign and send back..(that's what I'd do...inital where you scratched it out)..



_________________

"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr.
Lori
Forum Expert
Leave a quick message

Lori
Forum Expert

Joined: 10 Sep 2007
Posts: 8080

Location: Missouri
287.92 Dollars($)

PostPosted: Fri Apr 23, 2010 7:55 pm   Post subject: Release of Liability Limit?  

I was in a car accident about 1 and 1/2 years ago that was deemed my fault. My insurance company called saying that the other side is requesting a copy of my liability limit. The people from my insurance called me saying that they couldn't release my liability limit to them without my approval. What are the pros and cons for me doing or not doing this? Question


_________________
Register Now to have your Insurance queries solved.
Mango
Guest







PostPosted: Mon Apr 26, 2010 4:56 pm   Post subject:   

The Pros of doing this are few other than it would be a gesture of goodwill that you are generally co operative. The Cons, however, could be more threatening.

Why would they want to know your liability limits? To see if they want to sue just your insurance company or both you and youre insurance company for damages or injuries as a result of the accident. If your limits are low they may go after you and your assets as well. They may even include your agent for selling you low limits of Liability. You may want to ask your insurance company or your adjuster for some advice on this. They are obligated to defend you in a case involving the accident.

Was it a bad accident with many people going to the hospital?

AxeVictim
Member
Leave a quick message



Joined: 05 Apr 2010
Posts: 59


11.11 Dollars($)

PostPosted: Mon Apr 26, 2010 7:01 pm   Post subject:   

I've been mostly in states where the insurance company is required to release this information. Personally, I see very little reason not to release it. When it comes down to it... it's not going to change anything. A reasonable demand is a reasonable demand... it does not matter how much money there is. For those that don't release this information... how many times do you see an attorney not ask for $10,000,000 on a $3,000 claim? Heck, even when I tell them there is $25,000 limit I still see a demand for a million. In that the plaintiff attorneys knows the policy limits only means he/she is not going to waste their time asking for $100,0000, then $80,000, then $75,000, etc... when the policy limit is $25,000. It also lets them know right away is they need to start a UIMBI claim with their clients own carrier.

tcope
Forum Expert
Leave a quick message

tcope
Forum Expert

Joined: 22 Nov 2006
Posts: 5981

Location: Salt Lake City, UT
358.91 Dollars($)

Quick Reply
Your Name
Subject
Message body
All times are GMT
Page 1 of 1


Get free auto insurance quote
State Auto Insurance Laws in USA

USA Auto Insurance laws
Ask Community Experts

flash plugin

Quick Links

Must See

Community

Hot topics in forums

Latest in blogs

AmPmInsure on Facebook



Page loaded in 0.174 seconds.