insurance settlement
Compensation after loss
An insurance settlement is the resolution of an insurance claim, typically involving payment from the insurer to the policyholder or claimant.
The term often implies negotiation—settling for an agreed amount rather than pursuing litigation: She accepted a $50,000 insurance settlement for the accident.
Settlements may be lump sums or structured payments over time.
- payoutMoney distributed to recipient
- claim filingFormally requesting compensation owed
- policyholderOwner of insurance contract
- liabilityLegal or financial obligation
- indemnityProtection against financial loss
negotiation · out of court · documentation · claims adjuster · coverage limits · fine print · policy review · lump sum · underwriter · compensation · exclusions · bad faith · contract law · lowball offer · valuation · cash value · total loss · property damage
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