by Reif » Thu Jul 15, 2010 03:52 am
I have a more specific question about the auto insur relese form . . . the other driver's insurance wants me to NOT pursue the other driver in ANY way in exchange for my claim amount. However, I sustained injuries and I may not be done with the other driver. I haven't yet decided on suing her personally. I have bills that exceed both our policies. I understand not holding the insurance company for future expenses, but this release form wants me to release the other driver personally. Do I not get any reimbursement if I don't sign?
Posted: Thu Jul 15, 2010 05:24 am Post Subject:
this release form wants me to release the other driver personally.
If you do not believe your "damages" are final, you would be ill-advised to sign a release form that indicates you are acknowledging having received the full value of your claim. Assuming that the physical damage to your vehicle has been taken care of, it is your other economic and non-economic damages that are in question. Do not rely on any advice or recommendation from the at-fault party's insurance carrier on what to sign or not sign. They are looking out for their own interest, not yours.
However, if your medical expenses already exceed the at-fault party's policy limits, but they have other assets that you could possibly pursue, then you should be directing your questions to a personal injury lawyer, not this forum.
While many of us have experience with these kinds of matters, we do not know the details of your claim, nor are we lawyers and cannot give you the kind of advice you really need.
Posted: Thu Jul 15, 2010 06:56 am Post Subject:
First you need to know that your _only_ course of action is against the driver, period. Their insurance is there to protect _them_ against you. So any payment the other carrier offers is going to require you to sign a release against their insured. No release, no money (unless you obtain a judgement).
I'm willing to bet that the other person's policy limits are going to be above the max you can sue for in small claims court. If so, you'd need an attorney to file against the other person. Most likely the attorney is then going to take 33% of the insurance companies money even though this has already been offered.
Does this other person have money that they can pay you? An attorney is not going to want to spend their time and money winning a suit when there is nothing to get from it.
You don't have under insured motorist bodily injury coverage?
If you have unpaid bills you can also see if the medical providers will discount their bill in order to get paid. Most of the time they will be willing to do this.
Posted: Thu Jul 15, 2010 04:46 pm Post Subject:
Everything mentioned by tcope above is straight to the point and accurate. Larry H Parker can offer to get you "$2.1 million" in his TV ads, but no attorney can get "blood out of a turnip" or money out of a poor person. But they'll take at least 30% of whatever they can get.
In the OP's original post:
I have bills that exceed both our policies
which leads me to believe the OP has UMBI. But I could be wrong.
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