insurance

What is a claim?

 

What is a claim?

The Bankrate.com financial term of the day is: "claim."

A claim is when your insurance literally pays off. All that money you've been pouring into premiums turns out to have been a good investment because it's your turn to get some cash from the insurer to pay for something that's covered under your policy, such as a loss or medical service. You make a claim for the payout you're entitled to.

A claim is your way of getting what's coming to you when you have an insurance policy.

To get an insurance quote, visit the Insurance section at Bankrate.com.

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