What Is a Car Accident Release of All Claims Form?
If you’ve been involved in a car accident in Denver, you may be asked to sign a Release of All Claims form as part of your car accident settlement process. This legal document is a critical step in resolving your claim. However, signing it comes with profound and lasting consequences.
Understanding how a Release of All Claims form affects your rights is essential before you sign anything after a car accident in Denver, CO.
What Is a Car Accident Release of All Claims Form?
A release is a written agreement to be bound by an obligation or to give up a right. A car accident Release of All Claims form is also known as a Release From Liability or a liability waiver. It is a legally binding agreement that ends your right to pursue further legal action related to the accident.
When you sign this form, you agree to accept a specific settlement amount in exchange for giving up all future claims against the at-fault party and their insurance company. Typically, insurance companies require claimants to sign a release before they issue a settlement check.
Once signed, the case is considered closed, and you cannot seek additional compensation for injuries, property damage, or other losses related to the accident. Because you signed a release of all claims, you cannot seek more money even if you later discover that your injuries are more serious than initially thought.
Key Components of a Release of All Claims Form
A properly drafted release form in Colorado should include:
- The names and addresses of all parties involved
- The date, time, and location of the accident
- A detailed description of the accident and the claims being released (e.g., bodily injury, property damage)
- The total settlement amount and payment terms
- A clear statement that the plaintiff releases the defendant from all future liability for the incident
- The governing law and jurisdiction (Colorado law)
- Signatures of all parties
These elements ensure that both parties understand the terms of the agreement and that the release is enforceable under Colorado law. Both parties must sign the agreement freely. It is enforceable by law because it meets the requirements for a contract – both parties receive consideration for the agreement.
What Happens When You Sign a Release of All Claims Form?
By signing a Release of All Claims form, you:
- Give up your right to sue for any additional compensation related to the accident
- Accept the settlement as a complete and final resolution of your claim
- Release the at-fault party and their insurer from all future liability for your injuries or damages
This means that even if you later require additional medical treatment or discover new injuries, you cannot reopen your case or seek more money from the at-fault party. The release is generally irreversible, except in rare cases of fraud, duress, or administrative error.
Signing a release without legal counsel could mean that you accept a settlement that is below the actual value of your accident claim. The insurance company is not legally required to tell you if you could receive more money by pursuing a legal claim against the at-fault driver.
What Should You Do Before Signing?
Before signing a release or any insurance paperwork, review the form carefully to make sure all details—such as the accident description, settlement amount, and the claims being released—are accurate. Request copies of all documents, including settlement offers and claim-related communications.
Don’t rush or give in to pressure from the insurance company; taking your time helps protect your rights and financial interests. It’s also wise to consult a Denver car accident lawyer before signing, so you fully understand the consequences and can confirm the settlement is fair.
Common Misconceptions About Release of All Claims Forms
A release form is not the same as a settlement agreement. The release is part of the settlement process, and the settlement agreement may include it. However, a settlement agreement includes additional terms, such as payment schedules or structured settlements.
You are not required to accept the first settlement offer from an insurance company. The initial settlement offer is often lower than the value of your economic and non-economic damages. You can negotiate for a higher amount before signing the release.
Do I Need a Lawyer Before Signing a Release of All Claims Form After a Car Accident in Denver, CO?
A car accident Release of All Claims form is a powerful legal document that can significantly impact your rights and financial recovery. If you’re considering signing one, it’s crucial to understand what you’re agreeing to and to seek legal advice from an experienced Denver car accident lawyer.
Call Zaner Law Personal Injury Lawyers for a free consultation with an attorney if you need help.
We are located in Denver, CO, proudly serving all of Denver County.
Zaner Law Personal Injury Lawyers
1610 Wynkoop Street, Suite 120
Denver, CO 80202
(720) 613 9706
