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? Name Email Address Question Thank you! Oops! Related Contents If a Pipe Breaks Do you know what to do if a pipe breaks in your house? Did You Know This Fact About Fire Extinguishers? How often should you check your fire extinguishers? Do you know? Assess Your Life Insurance Needs This calculator estimates how much life insurance you would need to meet your family's needs if you were to die prematurely.