Insurance term
Claim
A claim is a formal request you file with your insurer to be paid for a covered loss, like an accident, theft, or damage. The insurer reviews it, confirms coverage, and pays out up to your limits, minus any deductible. Filing promptly with good documentation helps it go smoothly.
Why it matters
Knowing how and when to file a claim means you actually get the protection you've been paying for when something goes wrong.