Claim
A formal request you submit to your insurance company asking them to pay for a covered loss or event. After you file a claim, the insurer reviews the details and decides how much to pay based on your policy terms. Filing too many claims can affect your future premiums.
Real-World Example
After a fender bender, Sarah filed a claim with her auto insurer and received a payment of $2,800 to cover the repair costs minus her deductible.
Related Terms
Disclaimer: This glossary entry is for informational purposes only and does not constitute financial or insurance advice. Consult with a licensed insurance professional for personalized guidance. GuardianChoices may earn affiliate commissions from links on this site — see our advertiser disclosure.
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