Long story short, i let my cousin drive my car to our grandmas house and the car malfunctioned and he ended up rear ending a car. 3 passengers in the other car. They left w no damage and were able to drive away this happened almost 6 months ago and now i have the settlement documents from their lawyers for my cousin to fill out. He has no insurance no drivers license and my insurance said they were looking to global settle. What do i do in order to keep everything okay on my side. thank u
Need advice understanding how to move forward a settlement
@deidrec My guess is those documents are to confirm whether or not you and or your cousin have any additional insurance or assets. If this is the case then there's no reason not to be 100% truthful when filling out the paperwork.
A global settlement usually means that your insurance company is offering to pay your policy limits to the attorney and the 3 (or 4?) injured parties and its up to the attorney to decide how much each person gets.
A global settlement usually means that your insurance company is offering to pay your policy limits to the attorney and the 3 (or 4?) injured parties and its up to the attorney to decide how much each person gets.
@reece24 Global settlement = all parties, all claims, all wrapped up at the same time so as to make sure no single claim remains pending and might, theoretically, present uninsured risk. You're reading too much into the facts to assume it's a limits case, especially with what (I think) OP said about their being no property damage.
@deidrec I'm guessing that you're not seeing responses here because it's not quite clear what you're asking.
It might help if you can describe these documents. "Settlement documents" might have a different meaning in different contexts. Also, what sort of claim(s) are being made?
I understand you've reported the accident to your insurance. Make sure your adjuster knows about the documents you're asking about. Your question might well be one your adjuster can answer.
It might help if you can describe these documents. "Settlement documents" might have a different meaning in different contexts. Also, what sort of claim(s) are being made?
I understand you've reported the accident to your insurance. Make sure your adjuster knows about the documents you're asking about. Your question might well be one your adjuster can answer.
@roman1 hey there and the documents in question were basically for my cousin to fill out his info, what he was doing that day, reason to drive, and insurance+ dl info which he has neither. my insurance said they want to global settle it but googling that term it’s looking like thats better for the other party but not for me. Im just confused still
@deidrec ok ... I wouldn't refer to a form like that as a settlement document, fwiw, but instead maybe an initial investigation questionnaire. I would definitely make sure your insurer is aware of the request and the fact that the claimants are represented by counsel, and you can ask the adjuster how to proceed. I don't know all the facts, of course, but generally I would expect your insurer to be defending your cousin as a permissive user of your covered auto (despite him being unlicensed) ... so you want your insurer involved in this claim on behalf of you as the owner and your cousin as the driver. Generally, you want to forward anything you receive from the claimants' counsel to your adjuster. Keep that line of communication open!
@roman1 Does giving them the yes to settle under global release make it better for the other party or is it also benefitting me? I just dont want to make a mistake and fck myself over in the end. The claim adjuster is the one who sent over the document which i believe was sent to them by the other parties attorney. Thank u so much