Mediation
Definition:
A non-binding dispute resolution process using a neutral mediator.
Explanation:
Mediation helps homeowners and insurers negotiate claim settlements without going to court. It’s often faster and less expensive than arbitration or litigation.
Example:
If you and your insurer disagree on a fire claim payout, mediation may help reach a compromise without escalating to a lawsuit.
Why it matters:
This term affects how claims are handled and what payout a homeowner may receive.