First Party Insurance Claims in Dallas
An insurance policy is a contract between two parties: the insured and the insurance company. The insured is generally known as the first party. Although the insurance company is in reality the second party, it is seldom if ever called that for reasons unknown. The third party in an insurance policy is someone other than the insured who is making a claim on the policy.
If, for instance, the policy holder suffers property damage, he or she can make a claim to his or her insurance company. That is a first party claim. If the policy covers the damaged property, which is known as first party coverage, the insurance company is required to make payments directly to the insured. Payment usually covers hospital and other medical expenses plus lost wages due to the accident. First party claims also involve instances where a person is injured by an uninsured driver or someone with not enough insurance. In that case, the injured person may have to submit a claim to his or her own insurance company.
A third party involves a claim against an insurance company by someone other than the insured. The injured third party rather than the policy owner will receive payment. As an example, a third party is injured in an automobile collision and sues the insured driver who caused the accident. Such payments may recover medical expenses and lost wages. This is also known as liability coverage, with higher limits than on most first party coverage.
In some cases, the person who is injured can make a first party as well as a third party claim. That might happen if the person is injured while riding as a passenger in his or her own insured car.
Are you a first or third party experiencing difficulty with filing an injury claim in Texas? Contact Zinda Law Group. We have the legal assistance and professional experience to put your life back in order and that includes recovery from emotional as well as physical loss. Our Dallas Personal Injury Attorneys will stay focused on you until your questions are answered and your compensation has been paid.