What to Know Before Signing a Release from the Insurance Company

Each year, nearly 6.8 million car accidents are reported across the United States. For the victims of these accidents, their lives are completely changed in a matter of seconds as they try to understand what their next steps should be. In the days following a damaging car accident, victims may be feeling overwhelmed as they try to navigate the complex car accident claims process. Working with an experienced car accident attorney can help you build a strong claim as you pursue financial compensation from the at-fault driver’s insurance company.

Premier Law Group is a team of skilled car accident lawyers with experience helping clients as they navigate the Washington claims process. After a car accident, the at-fault driver’s insurance company will want to give you the lowest possible amount of compensation. That is why it is essential to know a few key points before signing a release from the insurance company. 

What is a Release from an Insurance Company?

A release is a legal document that an individual may agree to sign in exchange for an amount of money, resulting in them giving up or releasing certain legal rights. A release is used to end a legal matter, such as an active car accident claim, to allow both parties to move on from the incident. If you sign a release from the other driver’s insurance company, you will be shielding the insurer and the driver from any further legal action concerning the car accident and you will never be able to get another penny from them. You will receive a settlement check in return for signing the release. While signing the release may seem like a simple fix to moving past the car accident that has caused you and your loved one’s turmoil, you should first be aware of all the implications that come with signing a release. 

What Should You Know Before Signing a Release After a Car Accident?

If you have been offered a release from the at-fault driver’s insurance company before you sign it, consider the following:

Do You Need Permission from Your Insurance Company Before Signing?

Due to a legal concept called subrogation, you may need permission from your car insurance company to sign the release. After a car accident, subrogation allows your insurance company to use your legal right to pursue compensation for the underinsured coverage payment that was given to you. If you sign the release without their permission, eliminating their option for subrogation, your insurer may deny your underinsured motorist coverage claim. 

Understand What You Are Signing

Reading a legal document can feel overwhelming and intimidating. However, even if you are not sure how much you will understand, it is crucial that you read the release in its entirety and ask a trusted car accident lawyer to clarify anything that you do not understand. You should not sign the document until you are 100 percent sure you understand the terms and conditions of the release. 

Make Sure the Settlement is Enough to Cover the Cost of Your Losses

Once you sign the release you will never be able to get another cent from the at-fault driver or their insurance company related to this accident. It is crucial you have an experienced car accident lawyer look over the release to ensure that the insurance company provides you with a settlement to cover the cost of all the losses you have suffered from the car accident. These damages may include:

  • Medical expenses
  • Lost wages
  • Lost earning potential
  • Property damage
  • Pain and suffering

Get Help from a Skilled Car Accident Lawyer

When another driver’s negligence leaves you or a loved one injured from a car accident, you may feel overwhelmed as you try to navigate the next steps you should take. While a quick settlement and release may seem like a smart way to get compensated for your losses, it is rarely the best way. A skilled car accident lawyer can review your case and help you understand whether signing a release is the best way to receive the compensation you are owed. 

Premier Law Group is equipped with the experience and knowledge to help car accident victims decide whether to pursue a car accident claim or sign a release from an insurance company. Our seasoned legal team is proud to offer our clients the specialized representation they deserve. For a free consultation, contact us here or call (206) 880-7518.

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