First and third party are two types of insurance claims that can be filed.
First and third party refers to the type of insurance claim filed after an injury-causing accident.
First party claims are claims to your own insurance company.
These claims are based on your contract with the insurance company and the terms of your policy; they are made against your coverage. First policy claims are directly affected by policy limits and only cover financial costs such as medical bills. Since you cannot be held liable against yourself, first party insurance claims do not compensate for things such as pain and suffering.
In first party claims, you are the insured and the case involves contract law.
In most trucking accident cases, third party claims are made, which are claims against the at-fault party's insurance company. These claims include "liability insurance," which is an insurance policy's coverage for losses sustained by another person in cases where the insured could be held legally responsible. In third party claims, compensation may be recovered for non-economic damages such as pain and suffering, as well as economic damages such as medical expenses.
In third party claims, you are the claimant and the case involves tort law.
The type of insurance claim that you file will depend on the circumstances of your case.
For instance, if you were in a single car accident that you caused, you would file a first party claim with your own insurance provider. However, if you were injured in an accident involving another vehicle, you would pursue a third party claim against the at-fault party's insurance provider. In some rare cases, you may make a first and third party claim (ex: if you were injured in an accident while a passenger in your car), although each claim would be handled separately from one another.
In all situations, it is encouraged that you discuss your case with a skilled personal injury attorney. To take advantage of our free and confidential consultation, please contact Arnold & Itkin today!