Are you about to sign a Release form with an insurance company to settle your car accident claim? If so, watch this short video to learn the top 8 tips before signing the release. There are things on this video you’ve never thought of I guarantee it.

0:00 Introduction
0:45 You came to an agreement on a car accident settlement – now what
0:50 Release of all Claims – you release them from all liability
1:40 Is the amount your settling for enough to compensate you for your pain and suffering?
2:00 Who is paying the medical bills, you or the insurance company
2:40 Have you negotiated your medical bills down
3:10 Are there any liens on your case?
4:25 Liens from workers’ compensation, child support, Medicare, Medicaid
4:55 Liens are generally negotiable
5:30 Your insurance company will be concerned about liens
6:25 If you are going after your own insurance for compensation, you may have an obligation to ask your insurance for permission to settle with the defendant
7:00 Do an asset verification form
8:05 Make sure you read the release form
8:45 The release may have a non-disclosure agreement

There are a lot of things that go into a car accident settlement with an insurance company. Things you’ve never thought about. This video is specifically what to do and what to check before you sign a release of all claims form.

1. The first thing the insurance company will do is send you the release or settlement agreement. I don't care what type of personal injury settlement we're talking about. There will be a release. This is a legally binding contract. Once you sign this document, your case is over. You will not be able to come back in 6 months and try and seek more compensation even if you discovered an injury you didn’t know about. You are releasing the person who caused the accident and the insurance company from further liability. So make sure you are 100% ready to finalize your case before you sign the Release.

Before you sign, do these things and/or ask yourself these questions:

2. Will the settlement cover your medical bills and expenses and have some money left over to compensate you for your pain and suffering? If not, you should probably speak to a car accident attorney asap. If you want to speak to me, reach me at [email protected] or 877-529-4312.

3. Who is paying the medical bills after the car accident? Maybe the insurance company is paying the medical providers directly – or are you supposed to pay them from the check the insurance company sends you? You need to have that figured out before you sign.

4. Medical bills are negotiable. Always try and negotiate your medical bills as much as you can because every dollar you save is another dollar in your pocket.

5. Who is paying the lien holders. The hospital where you received treatment or one of your medical providers may have a lien against your recovery (i.e. a stake or stake) in your settlement. Liens are generally created by laws in your state but you can also voluntarily enter into a lien agreement with a medical provider.

This is important b/c you may get your check, spend the money and 6 months later get sued for the lien amount.

Look up your state’s lien laws. They may actually favor you because the law might limit the amount of money or the percentage that your medical provider can actually recover from your settlement.

There might be liens from other places too like workers’ compensation insurance, a child support lien, or from Medicaid or Medicare.

The insurance company is concerned about liens too. As such, you may receive a settlement check that has your name on it AND the name of one of the lienholders like the hospital. That’s lousy because you can’t cash it unless the hospital signs it too.

You can try and negotiate liens too. Some kinds of health insurance plans are not required to negotiate with you at all though so check and see if you have an ERISA plan and if so, it may be tougher to negotiate those types of liens down.

6. Important – if after you settle with the defendant’s insurance company you are going to try and go after more money from your own underinsured motorist coverage, then you might have to get written approval from your own insurance to settle with the defendant.

7. To verify that there is no other insurance available or that the defendant doesn’t have any other assets, you can send them an asset verification form.

8. Make sure you read the release! You never know what might be in that document.

Thanks for checking out this video, if you want to reach me email me at [email protected].

Disclaimer: This video is for entertainment and informational purposes only. It is not intended as legal advice and the accuracy thereof is not warranted or guaranteed. This information is prone to errors and omissions. Use this information at your own risk. Watching this video does not create an attorney-client relationship.

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