Damage

This is another term related to the auto insurance industry. In speaking of this, one is usually referring to the loss of one or more insured properties e.g. car, or the harm that has befallen the policyholder in an accident.

Typically, an auto insurance company would offer a claim to you (the insured) that has experienced the damage in one way or the other, by means of the insurance company adjuster.

It may be important that you (the policyholder) have all the correct details filed regarding any damage that has occurred before sending a claim notice to your auto insurance company. This may include the total amount of incurred loss, as computed from the damage.

This is because some auto insurance companies would want to know or determine the cost of damage before offering a claim to you (the claimant), which is absolutely usual. Following legal procedures of your insurance company would greatly help in the reimbursement of your car.

Posted in: Glossary of Auto Insurance (D)