Settlement

Plain English Definition: An agreement to resolve a claim, usually involving a payment.

What Settlement really means for someone with an insurance policy

Settlements conclude claims by determining the amount paid by the insurer.

Settlement Real World Examples

• An insurer pays $20,000 to settle a car accident claim.
• The insurer settles a fire damage claim for $150,000 after negotiations.
• Settling a liability lawsuit out of court avoids lengthy litigation.