Oooops!! I signed a release for my accident in Colorado.
What are the consequences of quickly signing a release after an auto accident in Colorado?
Signing a Release Can Affect Your Rights.Generally, if you sign a release following any type of injury claim, including automobile accidents, you could be waiving all of your rights. Insurance companies are known to offer a very small settlement, quickly after an accident, to avoid paying out a greater amount later. Often the adjuster will offer a few hundred dollars and agree to pay medical bills for up to six months if you sign a release.
In Colorado, you are presumed to know what you have signed. Furthermore, verbal agreements are binding. Even accepting money from someone at fault or an insurance company could constitute a release of your claim and rights. There is a significant exception to the general rule about releases.
You Can Get Out of Some ReleasesUnder Colorado law you may be able to get out of a signed release or settlement agreement under certain circumstances. A release is void if given to an adverse party within 30 days of the accident or incident AND if you are under the care of a doctor.
If you need more information about getting out of a release that was signed shortly after an accident, call Norton, Bowers & Hofstra, P.C. at 303-400-8100.