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What are third-party claims?

If you have in a car accident or someone suffers an injury on your Pennsylvania property, you will have to deal with insurance companies. During the course of your dealings, you may hear about a third-party claim. This can be confusing if you do not understand insurance industry lingo. However, do not worry, this type of claim is perfectly normal.

According to Economic Times, a third-party claim is just when the injured person makes a claim for damages. In any insurance situation, you are the first party because you are the insured person. The insurance company, as the insurer, is the second party. It does not matter the situation or type of insurance. Whenever someone else makes a claim to your insurance company on your insurance policy, there is a third-party claim.

Having the ability of a third-party claim is part of the reason why you get insurance in the first place. You want the insurance to be able to work on your behalf when your actions or negligence causes injury or damage to another person. If your insurer cannot accept third-party claims, then your insurance does not offer you liability protection.

As you can see, when talk of a third-party claim starts, it is nothing out of the ordinary. It is perfectly fine and nothing to worry about. In fact, you should be happy your insurer will handle the third-party claim for you because it means you will not have to pay for the damages or injury. This information is for education. It is not legal advice.

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