What is Claims History?
Claims History is The record of claims made by an Insured that have been covered by insurance, although events that may be considered claims by the Insured which are subsequently not covered are still recorded as claims in the claims history. Claims history records are usually kept by an insurer on a policy by policy basis, although some insurers have the ability to reference records of all claims made by a particular Insured across a number of policies. Declaration by the Insured of their claims history may be required by a prospective insurer before providing a premium quotation. In some instances, the claims history may be used as part of a formula to calculate a premium.