Soon after an
automobile accident occurs, you may be contacted by an insurance company regarding a quick
settlement. Please be careful. The severity of your injuries may not be
obvious at first, and the insurance company may be trying to get out easy.
Key terms to look for when presented with documents by the insurance company
are “receipt and release”, “full and final settlement”,
“settlement agreement”. If these appear on documents presented
by an insurance company, including checks, they may be settlement documents.
Once documents containing these key terms are signed or negotiated (i.e.,
check has been cashed), you likely have executed a final and enforceable
settlement. Once this occurs, unfortunately, it is difficult, and in most
instances impossible, to undo the settlement. So, don’t rush to
settle your case.