Should I release my car to the insurance company?

Insurance Forum Auto Insurance
1

So I was involved in a car accident and the insurance company wants me to sign a release to settle my claim and take my car. Is it a good idea to release my car to them before I get a settlement? They’re saying it’s part of the process, but I’m not sure if that’s true. Any advice?

2

I wouldn’t rush into signing anything, especially a release. Once you sign that, you give up the right to go after them for more money if you find out later that you have additional damages or injuries.

3

@Hale
Yeah, that’s what I was worried about. I’m not injured, but I don’t want to miss out on anything. Thanks for the heads-up.

4

Definitely get a lawyer to look over the release. I’ve heard that insurance companies will try to get you to sign away more than you realize.

5

Noor said:
Definitely get a lawyer to look over the release. I’ve heard that insurance companies will try to get you to sign away more than you realize.

Good call. I guess it’s better to be safe than sorry. I’ll have someone check it out before I sign anything.

6

The release is basically the insurance company’s way of saying ‘we’re done here.’ Once you sign it, they don’t have to give you another dime, even if new issues come up later. Be super careful with that.

7

@Keith
Wow, didn’t realize it could be that final. Definitely not signing anything yet.

8

Also, check with your own insurance company first. They might have a subrogation clause, meaning they’ll want to go after the other driver’s insurance. If you sign that release too early, it could mess with their ability to help you out.

9

@Archer
That’s a good point! I’ve seen people get screwed over because they didn’t check with their own insurance first.

10

Make sure the settlement they offer covers EVERYTHING—repairs, medical bills, potential future problems. Once you sign, you can’t ask for more.

11

Hadi said:
Make sure the settlement they offer covers EVERYTHING—repairs, medical bills, potential future problems. Once you sign, you can’t ask for more.

That’s what I’m worried about. I want to make sure I’m not missing out on something down the road.