What typically triggers the claims process in an insurance policy?

The claims process in an insurance policy is typically triggered by the filing of a claim by the policyholder. When an insured event occurs, such as a car accident, property damage, or theft, the policyholder must formally notify the insurance company of the incident to seek compensation or coverage under their policy. This action initiates the claims assessment procedure, where the insurer evaluates the claim, investigates the circumstances surrounding the event, and determines eligibility for payout according to the terms of the policy.

Other options do not initiate the claims process. An increase in premiums might impact the policyholder's financial responsibilities but does not relate to claiming benefits from the policy. Routine inspections by the insurer are conducted for underwriting purposes or risk assessment but are not triggers for a claims process. The end of the policy term signifies when coverage expires but does not prompt a claim; claims should be filed while the policy is active. Thus, the accurate trigger for the claims process is the policyholder's filing of a claim.