What is the claims process in insurance?

The claims process in insurance is best defined as a series of steps a policyholder takes to report and document a claim. This process typically begins when a policyholder experiences a loss or damage and needs to seek compensation under their insurance policy. It includes notifying the insurer of the incident, providing necessary documentation such as photographs, police reports, or receipts, and often involves filling out specific claim forms as required by the insurance company.

This structured approach is essential because it helps ensure that the insurer has all the information needed to assess the claim accurately. By following these steps, both the policyholder and the insurer can maintain clear communication, and the process can proceed smoothly, leading to a fair and timely resolution.

The other options describe different aspects of insurance but do not encapsulate the full claims process. Reviewing insurance policies refers more to understanding coverage rather than the claim being processed, while calculating damage and negotiation could be parts of the overall claims process but do not represent the series of steps taken by the policyholder themselves.