Which of the following is a common requirement for a valid insurance claim?

A common requirement for a valid insurance claim is proof of premium payment. This documentation demonstrates that the policyholder has upheld their financial obligations to the insurer, which is essential for the insurance coverage to be valid at the time the claim is made. Insurers need this proof to verify that the policy was active and that the claimant is entitled to the benefits described in the policy.

The other options relate to processes that do not fulfill the immediate requirements for claiming insurance benefits. Asking for a refund is not a standard procedure for making a claim, as it does not pertain to the covered event. Substituting an alternate policy does not directly address the need to validate the existing policy and claim. Finally, transferring ownership of the policy is a separate action that typically does not affect the process of claiming benefits under the policy unless specified in the contract. Thus, proof of premium payment stands out as a critical requirement for a valid insurance claim.