Insurance is a tool used to manage, mitigate and alleviate risk. The very idea of insurance means that a person known as the insured contracts with another person referred to as an insurer. The former undertakes to pay the latter a premium or a fee for a certain period of time and the latter undertakes to indemnify the named beneficiary against loss, injury and/or damage or liability that results from an unknown or contingent event. Should the unknown or contingent event come about then the former may be or may not be entitled to a return of a specific percentage of the premium, depending on the contract conditions. For example, Mr. A and Company ABC enters into a contract of automobile insurance. Mr. A pays Company ABC fifty dollars ($50.00) every month for ten (10) years. The contract says that should Mr. A meet with an automobile accident on the insured automobile, thru no fault or laxity of his own, then Company ABC will cover the costs of the damages to Mr. A's automobile by returning it to the condition it was before the accident.

An accident and insurance claim is a written commitment by the policy holder to an insurance company applying for benefits for a covered risk. In the above mentioned example Mr. A is the policy holder and Company ABC is the insurance company. The covered risk is the accident which is unknown because it may or may not happen.

An accident and insurance claim could be categorized for the subject matter of the claim and as to the period or span of time within which a claim can be made. A claim as to subject matter can be life, home, health, pet, automobile, even a holiday. A claim as to duration may be permanent or term accident insurance. Permanent accident insurance means the same remains in use for as long as the policy holder is alive, pays premiums timely and does not do anything to breach the conditions of the contract; Term accident insurance policies remain in operation and effect for a particular number of years as stated in the insurance contract.

In order for the amount of accident insurance claim to be determined it is very important to use an injury calculator or personal evaluator. The former is software application and the latter is an actual person, usually an injury advocate. The job of the calculator or evaluator is to gather relevant data such as income, age, degree of damage to property and/or injury to a person in order to estimate compensation amount arising from litigation or the expected settlement or litigation award.

In most cases an accident and insurance claim is filed with an officially authorized representative of the insurance company. This authorized person is tasked with checking out the details of the insurance claim; asking for documentation and statements from the policy holder and witnesses presented; settling the payment from the party at fault or from the insurer of the party at fault.

A policyholder or a claimant must understand that in all cases a police or medical report is necessary by the authorized representative. The policy holder or claimant should also find out as to who can file the insurance claim since in some cases it is the medical facility, physician, repair shop, even a building contractor who has to file the necessary insurance claim forms directly with the insurance company, but at the instruction of the policyholder or the claimant.

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