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I was involved in a minor bumper to bumper rear end accident. I was the driver to accidentally bumped into the other party.
Now it is almost two years later, and I received a letter from my insurance company that this claim still has not been settled. At the time, the other party did not wish to call the ambulance, and seemed to be in a rush to leave, and I was 21 at the time, and was in such shock that I did not think of calling to make a police report.
The insurance now is telling me that the other party requires surgery, which is above the cost of my liability insurance. The other party is filing an under insured motorist claim, but is requiring me to sign an insurance asset declaration claiming that I do not have any other insurance or assets to pay for this injury.
It is true that I do not have any other insurance, but everyone has a savings account. I am afraid that this document they wish me to sign is basically saying that I am at complete fault, and they can take anything I own to pay for this. Please help. I do not want to sign my life away, and I do not believe that I am responsible for this.
You really need to talk to an attorney in your state. Your insurance company must defend you and make sure that your assets are completely secured. They have a duty to settle within policy limits. Depending on how or why this person needs a surgery, your personal assets might be at risk.
Signing this document could give them rights against your assets as if you "accepted" the amount of damages.
Consult with a lawyer before, they will want to see why the damages are where they are, and why the insurance company has not settle for so long.
I hope everything turns out ok.
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