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 Combine Your Policies and Save Some things just make perfect sense in pairs. Buying Auto Insurance For Teen Drivers Tips on insuring your teen driver. Long-Term-Care Protection Strategies The chances of needing long-term care, its cost, and strategies for covering that cost.