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Covered Loss

What Is a Covered Loss in Insurance?

A covered loss is a claim your insurance policy will cover

For instance, a general liability policy will pay for bodily injury and property damage claims you become legally obligated to pay. In this example, the covered losses are bodily injury and property damage.

Covered loss definition.

How Does a Covered Loss Work?

All insurance policies have specific coverages, conditions, and exclusions. In the event of a claim, the insurance carrier investigates the loss and verifies that the policy coverages apply before paying the claim. If it is a covered loss as outlined in the policy, they pay the damages.

What Do I Do If I Need to File a Claim?

Filing a claim can feel intimidating, but FLIP makes this process super simple. Just follow these four easy steps to start the process:

  1. Log in to your user dashboard
  2. Click “File A Claim”
  3. Provide all the necessary information
  4. A claims adjustor will contact you and will take care of the claim from there!