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 | Related Content If You're In An Accident Do you know what to do if you're in a car accident? What is a Homeowner's Insurance Policy? Do you know what a Homeowner's Insurance Policy is? Long-Term-Care Protection Strategies The chances of needing long-term care, its cost, and strategies for covering that cost.