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What is the difference between a first party insurance claim and third party insurance claim?

April 26, 2017claim difference Insurance party

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What is the difference between a first party insurance claim and third party insurance claim?

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A first party insurance claim is a claim made against one s own insurance policy. For example, if you have uninsured motorist (UM) coverage on your auto policy and you are injured by an uninsured driver, you can make a claim on your auto insurance policy. Another example is a claim made against your home insurance for flood or wind damage to your home. A third party claim is a claim made against an insurance policy that is not your policy but may be provide you compensation for your injuries.