Should I sign a covenant agreement to get more coverage from an accident? Posted on July 19, 2011

Should I sign a "release, covenant not to execute and settlement agreement" with the car insurance company? 2 years ago I was riding as a passenger in my own vehicle. The driver of my vehicle ran a red light causing the accident. I am covered with $100,000 of bodily injury insurance from my own car insurance (since I was a passenger) and in addition $25,000 from the insurance from the person driving my vehicle (since he was at fault). I have had 3 surgeries to my face and eye socket already. My health insurance will be reimbursed from the $100,000 leaving me about $60,000 plus the $25,000 to cover for my expenses etc. So far things are OK. I have a small hole in my retina, continuous headaches, my face is permanently deformed, and there may be future surgery (retina, eye socket, etc). By signing this release/covenant and agreement, does that still give me the right to have access to the underinsured coverage ($400,000 stacked) to cover for future medical expenses, pain and suffering, future damages (job, facial deformity, etc.)???

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