What is a first-party insurance claim?
A first-party insurance claim is a claim made to an insurance company by the insured individual or business for a loss or damage. In North Carolina, first-party insurance claims are typically made when an individual or business experiences a financial loss that is covered under an insurance policy. This type of claim is filed directly with the insurance company, and the insured individual or business is responsible for providing evidence and documentation to support their claim. Examples of first-party insurance claims may include claims for property damage, personal injury, or medical expenses. All of these examples are typically covered under existing insurance policies. To make a first-party insurance claim, the insured individual or business must typically provide proof of ownership and proof of the loss or damage. This proof may include repair estimates, photos of the damage, medical records, and other documents that support the claim. Once a claim is filed, the insurance company has the responsibility of investigating the claim to verify its legitimacy. If the claim is approved, the insurance company will issue a payment to the insured individual or business that is equal to the amount of coverage specified in the policy. In North Carolina, the insurance company must respond to a first-party claim within a designated period of time, typically 30 days or less. If the insurance company denies the claim, the insured person or business has the right to appeal the decision.
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