At Ashby Thelen Lowry, our Georgia personal injury attorneys know that when an insurance company asks you to sign a release after a vehicle collision, they seek a legal document that releases them from any further liability or obligations related to the incident.
This document is often called a “release of liability” or “settlement agreement.”
Here, we discuss why insurance companies typically request such a release.
Why Is the Liable Party’s Insurance Representative Presenting Me With a Release?
Insurance companies ask injury victims to sign a release after an incident for three main reasons.
They include:
- Finalizing the Settlement
By signing a release, you essentially accept a settlement offer from the insurance company. This agreement outlines the settlement terms, including the compensation you will receive for releasing the insurer and the at-fault party from any future claims or liabilities related to the accident.
- Avoiding Future Claims
The release is a legal mechanism to prevent you from pursuing additional claims or legal action against the at-fault party and their insurance company. Once you sign the release, you typically cannot seek further compensation for the same incident, regardless of any future medical expenses or damages that may arise.
- Closure of the Claim
Insurance companies prefer a clear and final resolution to a claim. Signing a release allows them to close the file on your case, freeing them from ongoing negotiations or potential legal actions.
Before signing any release, it is crucial to carefully review its terms and ensure you are comfortable with the settlement amount offered. If you have concerns or the full extent of your injuries is unclear, contact our skilled Georgia personal injury attorneys at Ashby Thelen Lowry today at (404) 777-7771 to schedule a free consultation before signing any documents. We can help you understand the legal implications of the release and ensure that you receive fair compensation for your damages.