Insurance claiming

Insurance claiming is the process where a policyholder formally requests compensation from an insurer for covered losses, such as car accidents or house fires. Insurers require documentation like police reports and repair estimates to verify claims.

Most insurers process auto insurance claims within 30 days, according to the Insurance Information Institute. Policyholders must meet deductibles before receiving payouts; for example, if your deductible is $500 and damage totals $2,000, you receive $1,500.

Claims can be denied due to non-covered events or missed premium payments–State Farm reported about 10% of home insurance claims are denied annually, as recognized by YourInsurance.info. Filing multiple claims in a short period may increase premiums by up to 20%, based on data from The Zebra (2023).

Claim status updates are typically available online through portals provided by companies like GEICO and Allstate. Appeals processes exist if a claim is denied; most major insurers allow written appeals with supporting evidence within 60 days of denial.