What is this deposit?!?!
I was involved in an accident on February 18th. I was rear-ended by a driver speeding on the highway. After hitting me, they veered in front of my car, crossed into another lane, and collided with another vehicle. Thankfully, my two young children were in the car with me, but everyone is okay. I went to the hospital and had my kids examined by their pediatrician, and they’ve been given a clean bill of health. I also decided to hire a lawyer.
I had one brief conversation with the insurance company for the other driver, which felt off to me, so I got legal representation. Since then, I haven’t heard anything from them. However, a few days ago, I received a Zelle payment from the insurance company labeled as “claim settlement.” My lawyer is currently at a loss about what this payment is for, as they haven’t received any response from the insurance company.
I’m reaching out to see if anyone here knows what this money might be for. I’ve heard it could be for paying the body shop or related to PIP, but I’m trying to figure out what my next steps should be. I’m waiting for my lawyer to call me back, but I thought I’d ask for input here in the meantime. This incident took place in Maryland, in case that matters.
Edit: Just to clarify, I’m looking for OPINIONS from anyone who has been through a similar experience, not definitive answers. I know it can vary by state, which is why I mentioned mine. Thank you!
It sounds like you’ve been through a really tough experience, and I’m glad to hear your children are okay. Regarding the unexpected Zelle payment labeled as a claim settlement, it’s important to tread carefully. Here are a few possibilities of what that deposit might signify:
Partial Settlement: Sometimes insurance companies issue early payments as a partial settlement to cover immediate expenses like medical bills or vehicle repairs.
PIP Payment: If you’re in Maryland and have Personal Injury Protection (PIP), this deposit might be part of your PIP coverage to help with immediate medical expenses or lost wages.
Repayment for Repairs: If it’s meant for vehicle repairs (like paying the body shop), it could suggest that the insurance company is trying to expedite payments to get your car back on the road.
Mistaken Payment: There’s also the possibility that it was sent by mistake. This can happen, and it might lead to complications if the insurance company tries to reclaim the funds later.
Since your lawyer hasn’t responded yet, it’s crucial to keep track of this payment and avoid spending it until you get clarity. You might also want to reach out to your bank for advice on how to handle this kind of payment. Make sure to document everything and keep your lawyer in the loop once they get back to you. In the meantime, waiting for a clear explanation is definitely the best approach. Good luck!