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Thread: Procedure for accident settlement

  1. #1
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    Default Procedure for accident settlement

    So I agreed to pay someone $900 for a dented/scuffed bumper. It's probably more than what it should be but my deductible's a grand anyways.

    What's the proper paperwork, procedures, witnesses I should prepare?

    thnx
    Last edited by dragonone; 03-15-2007 at 07:19 AM.

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    Write out a statement saying that you paid he'd received and have you, a witness and the victim sign it. This is your documentation if that guy trys to pull anything. Make sure to write in your contract or whatever. The date, the cars involved the area of the dmg and the amount paid to the person. Hope that helps .
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    Also state that this will cover all damages from the accident and there is nothing else required on your behalf. Just because you write down that you paid him $900 doesn't mean he won't get greedy and says you really agreed to pay him $**** or that there are futher damages. Be as detailed as possible to be on the safe side.

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    Make sure that you include something stating that there will be no further action against you for physical damage or personal injury.

    If you don't include the personal injury clause he can come back and pursue you/your insurance company for "pain & suffering". If he does that, your rates go up anyway.
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    is there like a model one that i can copy?
    i already filed a police report so i thought maybe i could just meet this person at the station and have an officer as a witness

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    My brother got into an accident last month and we went through the same thing. His insurance company OK this. Feel free to use it.

    This is to certify that on the evening of ____DATE____, ____NAME____ residing at ____ADDRESS____ was involved in a collision with ____NAME____, residing at ____ADDRESS____. Both parties agree that this matter has been settled out of insurance. Both parties agree that the matter will not be pursued later in court nor will they make any other claims, both present and future pertaining to the matter discussed in this agreement.

    It has been willingly decided and agreed upon by both parties that the matter has been resolved through a cash settlement. Both parties also agree that no further legal and personal action will be taken as the aforementioned matter is resolved.

    This agreement is legal and binding to both parties, dated this ____DATE____.
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    Originally posted by max_boost
    My brother got into an accident last month and we went through the same thing. His insurance company OK this. Feel free to use it.

    This is to certify that on the evening of ____DATE____, ____NAME____ residing at ____ADDRESS____ was involved in a collision with ____NAME____, residing at ____ADDRESS____. Both parties agree that this matter has been settled out of insurance. Both parties agree that the matter will not be pursued later in court nor will they make any other claims, both present and future pertaining to the matter discussed in this agreement.

    It has been willingly decided and agreed upon by both parties that the matter has been resolved through a cash settlement. Both parties also agree that no further legal and personal action will be taken as the aforementioned matter is resolved.

    This agreement is legal and binding to both parties, dated this ____DATE____.
    That will work just fine.
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    thnx guys
    u think the police station will b willing witnesses? or will they b an ass and say 'take it somewhere else'

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    Just to let everyone know..as of January 1, 2007, new auto reforms have been revised again and even if anyone pays off their own claim, it still counts towards your insurance now so it would be in your best interest not to let your insurance company know but i guess if they find out, you'd be cancelled for misrepresentation.

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    Originally posted by Speed_69
    Just to let everyone know..as of January 1, 2007, new auto reforms have been revised again and even if anyone pays off their own claim, it still counts towards your insurance now so it would be in your best interest not to let your insurance company know but i guess if they find out, you'd be cancelled for misrepresentation.
    Don't know anything about the insurance reforms but I'm pretty sure they can't cancel your policy for not reporting a non-insurance related collision.

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    Originally posted by Speed_69
    Just to let everyone know..as of January 1, 2007, new auto reforms have been revised again and even if anyone pays off their own claim, it still counts towards your insurance now so it would be in your best interest not to let your insurance company know but i guess if they find out, you'd be cancelled for misrepresentation.

    rates will not change if no claim is made. period. if you bump someone and don't put it through insurance your rate won't budge.

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