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

In Indiana, the difference between first-party and third-party insurance claims refers to who is making the claim. A first-party claim is when the policyholder or insured makes a claim against their own insurance policy. This type of a claim typically involves the policyholder making a claim for damages that are covered under their own insurance policy. For example, a homeowner may file a first-party claim if their home is damaged in a storm. On the other hand, a third-party claim is when a third-party is making a claim against the policyholder’s insurance policy. This type of claim typically occurs when the insured has caused damage to someone or something else, and the third-party is making a claim for damages against the policyholder. For example, if a driver causes an auto accident that damages another person’s property, the other person can file a third-party claim for damages against the driver’s insurance policy. In summary, the main difference between first-party and third-party insurance claims is that a first-party claim is when the policyholder makes a claim against their own policy, and a third-party claim is when someone who is not the policyholder makes a claim against the policyholder’s policy.

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

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