Car Accident Property Damage How-to Guide: Signing an Insurance Release

The Car Accident Property Damage: How-to Guide video series, authored by Andrew Kryder, Chicago car accident attorney and founding partner of The Kryder Law Group, LLC Accident and Injury Lawyers, is geared towards assisting individuals whose vehicles have been damaged in non-injury car accidents.

Although an experienced personal injury lawyer will help you with your personal injury claim, if no one was injured in the accident, you’ll need to be able to handle your property damage claims independently.

How the Property Damage How-to Guide Can Help

Here is where this guide is invaluable. This comprehensive series defines the process of filing a property damage insurance claim from start to finish, providing step-by-step guidance on dealing with insurance companies, understanding your rights, and effectively navigating the often intricate path to obtaining a fair settlement. And you get the benefit of the decades of experience of an experienced personal injury attorney from The Kryder Law Group, LLC Accident and Injury Lawyers.

With this guide, you can confidently and independently handle the aftermath of a car accident, ensuring your property damage claim is properly addressed with the insurance company.

Signing a Property Damage Release

Signing a property damage release with the insurance company prematurely can potentially lead to an inadequate settlement, leaving you financially responsible for unforeseen repair costs or diminished vehicle value.

Andy addresses this issue head-on. “A lot of people might be concerned about signing a release regarding their property damage claim. You should be. You want to make sure you read and understand everything before you sign it.”

Understanding the Insurance Company’s Settlement Offer

“Some insurance companies are going to require a signed release, others may not,” he says. “But at the end of the day, you always want to make sure you understand what it is the document says, what it is you’re releasing, and understand everything fully before you sign it.”

What It Means to Sign a Property Damage Release Form

“Once that release is signed,” Andy cautions, “the case is over. Your [legal] rights, your remedies—they’ve been extinguished. So be very, very careful when you’re asked to sign a release.”

Getting Your Settlement Check

“But at the end of the day, you may have to sign the release in order to settle your claim and get the compensation that you deserve,” he concludes. “It’s a natural requirement of these types of claims.”

What Is a Legally Binding Document?

“It’s an exchange. It documents the agreement that you have with the insurance company. Just make sure you understand what it says, what you’re releasing, and what you’re getting in exchange for that release.”

Sign Release Forms When the Insurance Company’s Offer is Accurate

Andy concludes, “Make sure it memorializes the agreement down to the wire, otherwise you should question it and maybe ask for changes to be made before you sign it.”

Sign a settlement agreement when it accurately represents your agreed terms, and all your concerns have been addressed.