by Ktandy » Fri Sep 04, 2009 03:43 pm
Accident occured on the way home from work approximately 10:30pm.
My son was uninsured at the time, but is currently insured.
The second party wants and has agreed to a cash settlement. He plans on using it as a down payment on another vehicle.
The settlement amount has been agreed to by both parties.
Transaction will be by money order.
My son was uninsured at the time, but is currently insured.
The second party wants and has agreed to a cash settlement. He plans on using it as a down payment on another vehicle.
The settlement amount has been agreed to by both parties.
Transaction will be by money order.
Posted: Fri Sep 04, 2009 03:46 pm Post Subject: cash settlement in auto accident
What to include in the agreement letter?
Posted: Fri Sep 04, 2009 03:58 pm Post Subject:
What to include in the agreement letter?
No letter, they need to sign a release (all partys)...saying this payment is for , ''full and final settlement of all claims known and unknown" be sure and list ANYONE that could be brought into a suit, (your son, both parents, anyone who's name is associated with the vehicle your boy was driving when this accident occured)..also needs to be signed by the (damaged) vehicle owners, and if married other spouse, if a minor all parents/guardians.Posted: Tue Sep 08, 2009 11:03 am Post Subject:
In fact, whether you buy vehicle insurance or not. You could ask that simple question, What if your car was involved in an auto accident tonight where heaven forbid, someone else was injured or killed?
It is like a nightmare, we do not think it can not happen on us. Do you remember, everything you own is in the back seat of the car with you and is at risk in a lawsuit! When something happen you also thing their family would sue for you, about $15,000? $25,000? $100,000 or even maybe a Million dollars! Where would you get the money to pay them? At the same time it is convient for you when you was injured in car accident.
So avoiding this problem you can do it before everything happened. I have several kind of insurance, i do not wanna use it just i hope i will be lucky!
Add your comment