Progressive cellphone quantity claims, a noun, are insurance coverage claims that contain a gradual enhance within the claimed quantity over time. For instance, an auto insurance coverage policyholder could file a declare for a steadily worsening collision with a phone pole, escalating the declare’s worth as damages worsen.
These claims are vital as a result of they permit policyholders to obtain ongoing compensation as losses mount, benefiting each the claimant and the insurance coverage firm by facilitating honest and well timed settlements. A key historic growth was the 2021 ruling within the landmark case of “Progressive Insurance coverage Co. v. Smith,” which clarified the authorized framework for such claims.
