What's is claim

Question

What's is claim

Accepted Answer

A claim is a request made by a policyholder to an insurance company for compensation or coverage for a loss or damage.

A claim is a formal request made by the insured party to the insurance company.
It is made when the policyholder experiences a loss or damage that is covered by their insurance policy.
The insurance company then evaluates the claim and determines the amount of compensation or coverage that will be provided.
Claims can be related to various types of insurance such as auto insurance, home insurance, health insurance, etc.
For example, if a car accident occurs and the policyholder's vehicle is damaged, they can file a claim with their auto insurance company to cover the cost of repairs.
In medical insurance, a claim can be made by a patient or healthcare provider to request reimbursement for medical expenses.
Claims may require supporting documentation such as police reports, medical records, or receipts.
The insurance company may also conduct investigations or assessments to validate the claim before approving it.
Once approved, the insurance company will provide the agreed-upon compensation or coverage to the policyholder.

Accepted Answer

When you or nominee express your right to something that belongs to you.

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