What is the name of your state (only U.S. law)? Colorado
So I was in an accident for which I was found to be at fault. As of right now, it seems the insurance companies are going to work everything out between themselves, but I am concerned about the possibility of any civil action (or small claims... if there is a difference) being taken against me afterwords. The medical bills of the other driver exceeded my coverage limit. As I said, I'm being told that the other driver's insurance company has agreed to settle with mine for the full amount of my coverage (after I sign an Affidavit stating my salary and the fact that I have no additional liability policies and no assets), with her insurance picking up the remainder. Will this settlement remove any further liability on my end of any sort? I understand that the other driver cannot "double-collect" on medical expenses. But once the settlement is signed, is she entitled to try to collect for any other damages such as pain and suffering, lost wages or anything similar through a civil suit further down the road? If I'm interpreting what my online research has yielded correctly, the answer is "no", and this settlement should be the extent of my exposure. Is that accurate?
And by the same token, if the settlement between our 2 insurance companies *does* in fact put the matter to rest for good, am I then safe in accepting the deal being offered by the DA on my careless driving ticket, which was points, a fine and restitution for the other driver's unpaid expenses?
AND (last one, I promise), if I *am* OK in accepting the DA's deal, should I wait until the checks are actually written/cashed to plead guilty in court or is the signed, supporting documentation of the settlement safe enough?
Any insight anyone may have to share would be greatly appreciated. I'm just trying to stay prepared for the worst of possible outcomes on my end.