Settlement documentation
- Settlement agreement or release form
- Specifies amount, scope, and terms
- May include:
- Full release of claim
- Partial release (carve-outs)
- Supplemental rights preserved
Release review
- Read carefully before signing
- Understand what rights are released
- Preserve supplemental rights if applicable
- Don't sign broad releases for partial settlements
Payment timing
- Release signed → payment queued
- Check cut within 5-7 business days
- Mail delivery or electronic transfer
- Mortgage / lienholder endorsement if applicable
RCV holdback release
If RCV policy:
- Initial payment is ACV (depreciated)
- RCV holdback withheld
- Released when repairs completed
- Submit repair invoices to release
Final amount verification
- Match payment to settlement amount
- Check deductible application
- Verify RCV holdback tracked
- Confirm any ancillary payments (ALE, contents)
If payment doesn't come
- Confirm release was received
- Contact claim rep
- Escalate if 14+ days past expected
- File complaint with DFS if needed