What is a Release of Claims in a Settlement Agreement?
A release of claims form is a document that absolves the defendant or their insurance company from all legal responsibilities associated with the accident. They are also known as “liability waivers” and are part of the majority of settlement agreements. A release of claims form, once signed, releases the opposing parties from liability, meaning you cannot pursue additional compensation after the settlement is accepted. Call our North Carolina injury lawyers at 1-800-525-7111 if you have questions. We believe that Justice Counts.
Giving Up the Right to Sue Later On
If you are uncertain about the terms of the release or need additional guidance, it’s wise to consult with a knowledgeable North Carolina personal injury lawyer who can put everything in layman’s terms. A release of claims acknowledges that a settlement has been agreed upon by both parties and officially terminates your injury case.
Suppose you have yet to reach maximum medical improvement (MMI) and are still under the care of health care professionals. In that case, you should think twice before signing this document without the benefit of legal counsel.
Here at Riddle & Brantley, we go the extra mile to help clients understand “legalese” and avoid pitfalls common to personal injury litigation. By reviewing the release of claims, we can ensure that all accident-related damages have been properly accounted for and that you are not being short-changed by insurance companies. Call 1-800-525-7111 to set up a FREE, no-obligation consultation. Remember, there are no attorney fees unless you receive compensation.
Details Included in a Release of Claims
Although insurance release of claims forms may differ depending on jurisdiction and the nature of the action, they typically contain the following information:
- A summary of the legal dispute
- Names and addresses of the plaintiffs and defendants
- The specifics of your claim, such as property damage, bodily injury, etc.
- Explanation of the payment amount and what the plaintiff is getting in exchange for indemnifying the defendant
- Governing law of the agreement
Get an Experienced Lawyer’s Guidance Before Signing a Release of Claims
Claimants are required to sign the release of all claims before cashing their settlement checks. If the settlement offer does not reflect the total amount of damages sustained, your lawyer will bring any discrepancies to the table and negotiate with insurers for a fair payout.
Keep in mind that the initial settlement offer made by insurance companies is usually far lower than what they will probably pay — especially if you are represented by an experienced personal injury lawyer. They are hoping to settle claims quickly and with the least financial exposure and are betting on your compliance and desire for fast cash.
Never accept the insurance company’s initial offer without first consulting with an attorney.
With a veteran lawyer advocating on your behalf, you stand a much better chance of getting the compensation you truly deserve, because Justice Counts.
After the Settlement is Negotiated
What happens after your settlement is agreed upon? Once the terms are finalized and approved by you and your attorney, you will sign the release of claims form. The insurance company then issues a check. Your attorney will disburse the funds to you and themselves to cover contingent legal fees.
Contact Our Team Of North Carolina Personal Injury Lawyers
Signing documents without the advice of a trusted legal professional can come with unwanted consequences. Call 1-800-525-7111 for a FREE consultation with North Carolina personal lawyers who are committed to your physical, emotional, and financial recovery after an accident.
We are proud to help injury victims seek the justice and compensation they deserve. With more than 220+ years of combined legal experience, our attorneys can protect your rights and maximize your settlement award.
“If you want a strong firm that fights professionally for your rights and wins, call the Riddle & Brantley firm.”
—Donyelle S., Riddle & Brantley