# Insurance Claim

*Insurance — Finicade finance glossary*

A claim is a formal request for the insurer to pay for a covered loss. Filing one has a cost beyond the deductible: claims history affects future premiums, so small claims can cost more over three renewal cycles than they pay out. The claim is also where the policy wording finally matters — exclusions, limits and proof requirements that were invisible at purchase become the entire conversation.

**Also known as:** claim, filing a claim, claims process

**Related terms:** [Insurance Premium](https://finicade.com/glossary/insurance-premium), [Deductible](https://finicade.com/glossary/deductible), [Subrogation](https://finicade.com/glossary/subrogation), [Indemnity](https://finicade.com/glossary/indemnity), [Loss Ratio](https://finicade.com/glossary/loss-ratio)

Source: https://finicade.com/glossary/claim