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Insurance Claim

What Is an Insurance Claim?

An insurance claim is a compensation request sent to an insurance company for damages covered by a policy.

An individual or business can make a claim to cover or recoup financial losses for:

  • Medical bills
  • Legal expenses
  • Property damage
  • Judgments
  • Settlements


Filing a claim does not mean you will automatically receive money; it simply initiates the process so that the insurance company can investigate and make a determination.

Insurance claim definition.

How Does a Business Insurance Claim Work?

You can submit a claim to your insurance if your business is involved in damages to a third party, such as a bodily injury or property damage.

You should provide as much detail and evidence as possible to assist with this process.

Once you’ve submitted your claim, an insurance adjuster will review all of the information to make sure the circumstances qualify under your insurance policy. They will determine if the damages qualify for coverage and the amount you are responsible for paying out of pocket.

If you need an attorney to represent you in court, the insurance company can assign legal counsel to represent and defend you.

What Does Filing a Claim Mean for My Business?

Filing an insurance claim is not a bad thing for your business. In fact, it means you have a layer of protection that could prevent you from having to pay for things like medical bills, court costs, or legal fees out of your personal or business funds.

Filing a claim is the first step to resolving your financial liability to a third party.

When you operate a business, you have to plan for what might go wrong. If an accident happens, you can file an insurance claim to help absorb some or all of your financial responsibility.  

If a claim is paid on your behalf, your insurance will show a loss, or claim report. This documentation shows you have been held liable for third-party damages and your insurance has paid on a claim.

You may need to produce this report when purchasing insurance in the future, and it could impact your pricing or eligibility for coverage.

How Do I File a Claim With FLIP?

FLIP makes the business insurance claim process as painless as possible. You can file a claim in just four easy steps:

  • Click “File A Claim”
  • Add all the necessary information
  • A claims adjustor will contact you and the claim will be taken care of!