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 Accidents Accidents happen to everyone. We’re here to help. What is a Liability? Do you know what a Liability is? Long-Term-Care Protection Strategies The chances of needing long-term care, its cost, and strategies for covering that cost.