Q: Should you agree to release liability limits?
Second request, was denied the first time. The injury cost to what they are requesting is ridiculous difference.
A: Yes. Your liability limits will be discovered one way or another. Disclosing it early will allow for possible resolution of the case short of litigation. You can avoid a lawsuit and being sued for the accident.
Tim Akpinar agrees with this answer
A:
I always recommend disclosing early.
The amount is discoverable, and often the case will settle right away because the damages are more than ins limits.
Tim Akpinar agrees with this answer
A:
There is little or no downside to revealing insurance policy limits. Most times it will keep the insured out of litigation and a long drawn out fight.
If they file a lawsuit, they can find out almost immediately. So if you do not want to be drawn into a lawsuit give permission to reveal no matter how inflated you feel their demand is.
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A:
Whether or not to agree to release liability limits depends on several factors, including the circumstances of the injury, the amount of damages being sought, and your own risk tolerance.
If you believe that the damages being sought are unreasonable or excessive, you may want to consider negotiating with the injured party or their attorney to reach a settlement that is more reasonable. This could involve agreeing to release liability limits, but with a lower dollar amount than what is being requested.
However, it's important to keep in mind that releasing liability limits could expose you to greater risk in the event of a future accident or injury. By agreeing to release your liability limits, you may be giving up important legal protections that could limit your exposure to damages in the future.
Ultimately, the decision of whether or not to release liability limits should be made after careful consideration of the risks and benefits involved. It may be helpful to consult with an attorney to understand the legal implications of such a release, and to determine whether it is in your best interests to agree to the terms being requested.
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