Legal Question in Insurance Law in New Jersey
Car Accidents
I was in a car accident that was not serious. Both parties agreed to not go the insurance company and to pay out of pocket. Is it legal to sign a letter stating that payment is in full and that neither parties can seek further restitution? Thanks
Asked on 2/19/07, 4:20 pm
1 Answer from Attorneys
Frank Pintauro
Donohue & Partners, PC
Re: Car Accidents
Yes. This would be called a release of claims agreement. As for not notifying your insurance carrier, that may be a breach of your insurance contract. Take a look at your policy.
Answered on 2/21/07, 11:04 am
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