What is the difference between first-party and third-party insurance claims?

In Idaho, the main difference between first-party and third-party insurance claims is who is filing the claim and who is receiving the benefit of the claim. First-party insurance claims are claims filed by the policyholder or the insured. These claims are filed against the policyholder’s own insurance policy, which can be for many different kinds of losses, such as property damage, medical expenses, or legal costs. The policyholder is the one who would receive the benefit from the claim if they were successful. Third-party insurance claims are claims that are filed by a third-party against the policyholder’s insurance policy. These claims are typically filed if the policyholder has caused injury or damage to the third-party’s property, reputation, or person. In this case, the third-party is the one who would benefit from a successful claim. In either case, the policyholder or the third-party must meet the requirements of the insurance policy in order to receive a successful claim. Additionally, in some cases, both the policyholder and the third-party may have to provide evidence of loss or injury in order to receive a successful claim.

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What is the difference between first-party and third-party insurance claims?

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