QuestionI was recently in an auto accident in Minnesota where my vehicle rear ended a vehicle at a stop sign due to poor road conditions. I believe that if settled with insurance I will be considered 100% at fault. I have asked the other party to settle outside of insurance, as the cost of the repairs is likely to be under $1000 and not require official reporting, and they seem amenable.
I have been informed that it is possible for the other party to settle with me outside of insurance, and then file an insurance claim as well in order to get a "double payment", basically screwing me over. How can I settle outside of insurance but protect myself against actions like this?
-Thank you for your time expert,
Jesse
AnswerHello Jesse,
Well… you are half way correct. Insurance companies do not allow double payment. Tort law and the law of remedies will not allow them to get paid twice for the damages. However, there are other things they can come back against.
You can pay for the damages, they might want more money and then make a claim for injuries. That would not double payment. If you settle with them and they come back, the insurance company might only give them a difference (what you paid v. what the total damages amount to – if they are more from what you paid).
You can settle your own claim, but you have to have a strong release of any and all claims against you. In exchange of payment they release you AND your insurance company of any damage, property damage and/or personal injury, against you. There are several forms around the net for this. The best however is to contact a lawyer to help you with the right document. They sign, you pay…. That must be the arrangement. Talk to a local attorney for this.
Also visit:
http://www.auto-insurance-claim-advice.com/
Good Luck
Anne
