QuestionHi I was in a wreck with an underinsured driver,my insurance paid for repairs to my car. But would not
pay for DV or loss of use and was told to file a claim with the at fault drivers insurance co. so I did. We reached an agreement for pro rata amount and was sent a release. I called my insurance co. and they said that they need to see the release before i sign it, do I have to have their approval? Also if I settle with the at fault insurance co. for DV an loss of use does that mean that my insurance company will no longer pay for repairs if more damage is discovered to my car do to the wreck? Not that I think their are but just in case.
Could you also let me know if the release they sent me is just for property and not for medical claim.
Thanks
RELEASE IN FULL OF ALL CLAIMS FOR PROPERTY DAMAGE AND LOSS OF USE
For and in consideration of the payment to Shell, individually, at this time for the sum of xxx
xxx xxandxxx), the receipt and sufficiency of which is
hereby acknowledged, I, being of lawful age, do hereby release, acquit and forever discharge xx
xx, , their principals, agents and representatives, insurers and all others, of and from and
all actions, causes of action, claims, demands, damages, costs, repair costs, diminished value claims,
attorney fees, loss of use, rental expenses, down time, loss of services, expenses and compensation on
account of, or in any way, growing out of, any and all known and unknown property damage
resulting or to results from an accident that occurred on or about xx/xx/2009 at or near xx
xx
I hereby declare that in making this release and agreement it is understood and agreed that I rely
wholly upon my own judgment, belief and knowledge of the nature, extent and duration of said
damages, and that I have not been influenced to any extent whatever in making this release by any
representations or statements regarding said damages, or regarding any other matters, made by the
persons, firms, or corporations who are hereby released, or by any person or persons representing
him/her.
It is further understood and agreed that this settlement is the compromise of a doubtful and disputed
claim, and that the payment is not to be construed as an admission of liability on the part of Ebony
xxx, , and all others, by whom liability is expressly denied.
This release contains the ENTIRE AGREEMENT between the parties hereto, and the terms of this
release are contractual and not a mere recital.
I further state that I have carefully read the forgoing release and know the contents thereof, and sign
the same as my own free act.
WITNESS my hand this _______ day of _________, 2010
CAUTION: This is a release
READ IT BEFORE SIGNING.
___________________________ ___________________________
Claimant Printed Name Claimant Signature
___________________________ ___________________________
Claimant Carrier Rep. Printed Name Claimant Carrier Rep. Signature
xxxxx
AnswerHi Vivian,
I am going to answer or comment on four issues that you raised in your history.
FIRST.
"But would not pay for DV or loss of use and was told to file a claim with the at fault drivers insurance co. so I did."
You did not ask about this, but I will comment anyway since it is just possible that your state is one of those in which the first party insurer (that is YOUR company) can—and does—prohibit DV claims for its Collision and Comprehensive (C&C) coverages. In most of these states the victim can ALWAYS prove DV as part of her compensatory damages that must be paid by the tortfeasor.
FAQ: Diminished Value Insurance Claims http://www.settlementcentral.com/page0454.htm
Diminished Value http://www.settlementcentral.com/page0455.htm
So it is possible that you may never have had the right to a DV claim versus your own policy. I guess that is one reason to direct you to the tortfeasor's company.
The other reason, and how to fight it are not our concern here since you did get satisfaction from the tortfeasor's company, and avoided having to pay your deductible.
SECOND.
"I called my insurance co. and they said that they need to see the release before i sign it. Do I have to have their approval?"
I know of no reason why they need to approve your release on the property damage, unless there is a risk of your claiming against your own C&C coverage. I take it that the underinsured status of the claim is SOLELY in the area of bodily injuries, and that the tortfeasor's company fully paid for all of your property damage losses.
BUT, since this is a UIM claim, your obligation might be different—ask for their authority to make such a request. In the end, what is the harm of giving them a copy of the property damage release? I would do it.
THIRD.
"Also if I settle with the at fault insurance co. for DV an loss of use does that mean that my insurance company will no longer pay for repairs if more damage is discovered to my car do to the wreck?"
Correct. Your rights for inadequate repairs or missed damage are against both the repair shop you selected and the tortfeasor's insurance. You would contend that the release is not effective to the extent that the repairs were faulty or that damage was not discovered. They would contend that you signed off on the repairs and accepted the vehicle back. Your response is twofold, depending upon the circumstances.
If it is a repair that was faulty, then they clearly have the duty to fix it. If it is damage that was not discovered by either the adjuster or the body shop owner, and that can be traced to the accident, then they have the duty to fix it.
Suggestion: consider hiring your own expert to go over your vehicle before accepting it from the repair shop. Hire YOUR OWN Auto Collision Repair Expert for Repair Negotiations & Supervision http://www.settlementcentral.com/page0457.htm
FOURTH.
"Could you also let me know if the release they sent me is just for property and not for medical claim."
Yes, the document recites both in its title and in the action sentence that this is limited to property damage AND loss of use. "any and all known and unknown PROPERTY DAMAGE resulting or to results from an accident that occurred on . ." Your bodily injury claim is not eliminated by your signing this release.
EXTRA CREDIT:
If you really DO have a bodily injury UIM claim, you MUST either hire an attorney or find a source of good information to guide you. You cannot do this on your own without getting some technical information, or you will lose great value in the insurance settlement.
In addition, there are pitfalls when you go to settle with the tortfeasor for his limits, and when you try to fight subrogation. These trap attorneys sometimes, so what makes you think you can avoid them? Note that we are talking about subro claims from your own auto insurer in addition to your health insurer.
Subrogation insurance claims against your settlement http://www.settlementcentral.com/page0459.htm
Directory of Legal Information on Liability Insurance Policy Limits Settlements in Personal Injury Insurance Injury Claims http://www.settlementcentral.com/page0451.htm
I trust that my time here has produced some information that has been of value to you, and thus I would respectfully request that you take the time to locate the FEEDBACK FORM on this site and leave some feedback for me.
Best Wishes,
Dr. Settlement, J.D. (Juris Doctor)
http://www.SettlementCentral.Com
