What is a Claimant?
A claimant is an individual or entity that files a claim with an insurance company to receive compensation or benefits for a loss covered under a policy. Claimants typically seek reimbursement for property damage, accidents, or other covered incidents. In personal and business insurance, a claimant could be the insured party (policyholder) or a third party affected by the insured’s actions.
For example, in a car accident, the claimant might be the driver who sustained damages and requested payment to cover repairs. Similarly, a homeowner who experiences damage from a covered event, such as a fire or storm, would be a claimant when they report the incident and request reimbursement for the repairs.
The insurance company will investigate the claim, evaluate the validity, and decide the amount to be compensated based on the policy terms and the nature of the claim.