Claims & Insurance
Claim payment
The money a carrier pays toward a loss — typically replacement cost minus the deductible and depreciation, with depreciation recovered later where the policy allows.
On a real claim
A claim payment is the money a carrier pays toward a loss, typically replacement cost minus the deductible and depreciation, with depreciation recovered later where the policy allows. On a claim payments often arrive in stages, so the first check is rarely the whole story. What goes wrong: a contractor treats the first payment as final and never files for the recoverable depreciation. Check what has been paid, what is held back, and what releases it before you close the job.
Common questions
What does "Claim payment" mean in Xactimate estimating?
The money a carrier pays toward a loss — typically replacement cost minus the deductible and depreciation, with depreciation recovered later where the policy allows.
Where does "Claim payment" show up in a claim?
The term matters on estimates and scopes across the insurance restoration workflow. Browse the glossary for related terms.
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