The insurance company might offer to settle your claim if you were injured in a Florida car crash caused by another driver. If you agree to accept the settlement offer from the insurance company, you will be required to sign an agreement.
These are the essential facts you need to know about auto settlement agreements in Florida if you have a pending Florida auto collision claim.
Your Claim May Be Offered a Settlement Offer That Is Lower Than the Value of Your Claim
You are not legally required to accept settlement offers from the negligent party’s insurance company. An attorney can review any settlement agreement to assess whether it is fair. Remember that you can negotiate a lower settlement amount if the amount offered is unreasonable. You can sue an insurance company if they refuse to give you a fair amount.
An Auto Accident Settlement Agreement Is a Legally Binding Contract
A settlement agreement is between you and the insurance company of the at-fault party. You and the insurance company sign a settlement agreement. A party may refuse to adhere to a term or condition. The other party can take the contract to court to enforce it.
Many insurance companies will prepare settlement agreements in their favor. Before signing an auto accident settlement agreement let an attorney review it.
An Auto Accident Settlement Agreement Is Final
You cannot request more money after you have signed a settlement agreement. You can’t request more money after you sign a settlement agreement, even if you find out that your injuries require ongoing medical treatment. You should consult your attorney before accepting any settlement offer from the insurance company of the at-fault party.
A Settlement Agreement for Auto Accidents Releases Other Parties from Future Liability
You release the sued party from any future liability by signing a car accident settlement agreement, as mentioned in the previous point. Even if you don’t know of the liability of another party, you also release them from any future liability. You cannot file a claim for damages if you sign a settlement agreement, even if you later discover that another party was at fault for your accident. This is extremely unlikely.
This post was written by Kelly-Ann Jenkins of Jenkins Law P.L. Kelly-Ann is an insurance lawyer in Pinellas Park. The information on this site is not intended to and does not offer legal advice, legal recommendations, or legal representation on any matter. Hiring an attorney is an important decision, which should not be based on advertising. You need to consult an attorney for legal advice regarding your situation.
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