What is a Claim? Claim[kleym]noun1.An insurance Claim is a policyholder’s request to an insurance company for restitution based on the terms of the insurance Policy. The insurance company, through an Adjuster, investigates the validity of the Claim and pays the policyholder. Share | Have A Question About This Topic? Address Thank you! Oops! Related Contents If You're In An Accident Do you know what to do if you're in a car accident? What is a Dwelling Fire Policy? Do you know what a Dwelling Fire Policy is? Long-Term-Care Protection Strategies The chances of needing long-term care, its cost, and strategies for covering that cost.