What is accident settlement?

Question

Anybody know what is the "accident settlement" meaning?

Is it related to insurance claim?

Thanks in advance..

Answer 1

Compensation for all your car accident expenses including motor vehicle repairs, medical  treatment, lost wages and "pain and suffering" if you are actually tort eligible.  The threshold requirements vary from state to state.  P&S settlements are usually lump sum settlements and are final once you sign a release.

Answer 2

Settlement is when your not at fault for an accident, the other party's insurance carrier pays you for pain & suffering, lost earnings and medical bills.

Yes, it is related to insurance claims...

Answer 3

You get into an accident.

It is not your fault.  You have personal injuries.  You want 100K for pain and suffering.  The insurance company say that they will give you 10K.  So you both settle for some number in the middle.

that is insurance settlement.

good Luck...