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

In Rhode Island, the difference between first-party and third-party insurance claims is important to understand when filing a claim. First-party insurance claims are claims an individual makes against their own insurance policy. This type of insurance claim is made to receive compensation from their own insurance policy for losses they have experienced, such as property damage or medical bills. Third-party insurance claims are claims an individual makes against an insurance policy held by another person. This type of insurance claim is made when someone files a claim against another person’s insurance for damages they have caused, such as injuries sustained during a vehicular accident. It’s important to note that insurance policies differ between companies, as well as between Rhode Island and other states. In Rhode Island, insurance policies typically provide for both first-party and third-party claims, though the specific coverage of each policy should be reviewed prior to filing a claim.

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

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