Homeowner’s Insurance Claim
A request made by the owner of a property and carrier of a homeowner’s insurance policy for approval of repairs needed to recover from damages that occurred to their property, its contents, or its occupants. A claim often is made following a flood, fire, or robbery. The limit of what a claim will pay for varies depending on the policy type and company. Typically, maximum payout amounts (or caps) are set by the insurer for the various situations the policy covers.