Waiving Future Claims: What To Know About This Vehicle Accident Provision

Waiving future claims in the context of a car accident settlement means that you agree to release the other driver and their insurance company from any further liability or responsibility for any future claims related to the accident. By signing a release and waiver, you essentially agree to settle the claim fully and finally, with no opportunity to seek additional compensation for any future damages or injuries arising from the accident.

Considerations for waiving future claims include the following.

Unknown future medical complications 

Some injuries may have long-term effects or complications that are not immediately apparent at the time of settlement. By waiving future claims, you give up the right to seek compensation for these unforeseen medical issues that may arise later.

Future rehabilitation and treatment costs 

If you require ongoing medical treatment, therapy, or rehabilitation in the future, these expenses may not be covered by the settlement if you waive future claims. Consider the potential costs of future medical care and whether the settlement adequately accounts for these expenses.

Undiagnosed injuries 

In some cases, injuries may not manifest fully until later, or there may be latent injuries that have not been diagnosed at the time of settlement. If you waive future claims, you won't have the opportunity to seek compensation for these undiagnosed injuries that may become apparent later.

Loss of earning capacity 

If a car accident has resulted in a long-term or permanent impact on your ability to work or earn a living, it's crucial to consider the potential loss of future earning capacity. By waiving future claims, you may not be able to seek compensation for the income you would have earned in the future.

Statute of limitations 

Each state has a specific statute of limitations that sets a time limit for filing a legal claim after an accident. If you waive future claims, you may be precluded from seeking compensation beyond the applicable statute of limitations. Ensure that you understand the time limits for filing a claim in your state before considering a waiver.

Before signing an accident release or waiver, consult with a personal injury attorney. An attorney can assess the potential long-term consequences of your injuries, evaluate the settlement offer, and provide guidance on whether waiving future claims is in your best interest. They can also help ensure that the settlement adequately compensates you for your current and future losses. Contact a local law firm such as Craig P. Kenny & Associates  to learn how to protect your rights as you settle your accident case.