Settlement

The agreed amount that resolves a claim. Once you accept and sign a release, that loss is closed — so it’s worth being sure the number is right first.

This is a friendly general explanation, not legal or policy language. Exact coverage depends on your policy, carrier, and state. 🤝

Written and reviewed by the We Insure Things team — licensed independent insurance agents. Last reviewed July 23, 2026. Questions? Ask a licensed agent.