The procedure for processing an insurance claim can vary greatly depending on the type of claim and the insurance company handling it. In general, the process can take anywhere from a few days to several months. Handling claims and receiving compensation can become a tedious challenge. It’s also daunting to address the issues with insurance companies and go through their entire claim process.
How Long Does an Insurance Company Have To Process a Claim?
One of the first steps in the claims process is for the policyholder to file a claim with their insurance company. This typically involves providing some basic information about the incident or loss, as well as any relevant documentation, such as police reports or medical bills. Once a claim is filed, the insurance company will usually launch an investigation to determine the validity of the claim and the amount of coverage that may be available. Depending on the complexity of the claim and the availability of information, this investigation can take anywhere from a few days to several weeks.
If the claim is found to be valid, the insurance company will usually start paying benefits to the policyholder. Examples of such benefits include: Paying for medical expenses, repairing or replacing damaged property, or compensating the policyholder for lost wages or other financial losses.
In a few cases, you may find that the processing of your insurance claim by your insurance company is taking longer than it should. When this happens, it is important to seek the help of an insurance claim attorney as soon as possible. At Voss Law Firm, we have all the professional help you need. Contact us today at 1-888-614-7730 and find out how our experienced attorneys can help you.
The process of filing an insurance claim can be time-consuming. However, it should still have a time frame. To know when your insurer is playing dirty tricks to delay your claim, let's take a look at how long an insurance company should have to process a claim.
How Long Does It Take An Insurance Company To Process A Claim?
The procedure for filing a claim with insurance companies differs by state. The time it takes an insurance company to pay out your claim will also be determined by the specifics of your case. While some states have statutes that specify how long insurers should take to complete each step of a claim process, others leave the time frame more open-ended. Texas for example generally requires insurance companies to pay claims within 5 business days of the claim being approved.
Also in Texas, insurance companies have 15 days from the time a claim is submitted to acknowledge it and look into it. This will help them to determine whether to accept the claim or deny it. They also have the right to request additional information reasonably related to your claim within this period. Note that when you suffer a loss, there are many reasons why your insurance company may choose to delay or deny your claim. Let's take a close look at some of the reasons.
Reasons Why Your Claim May Be Delayed
Disputes Over The Cause Or Extent Of Damage Or Injury
Disputes and confusion over the cause of an injury can prolong the claim process. Your claim benefits may be delayed while these issues are resolved if there is disagreement regarding who is to blame for the damage or how much it will cost to repair or compensate for it.
The reason for this is that insurance companies must reach just decisions to fairly resolve such claims.
It is also important to note that your insurer will not honor your claim if they discover the cause of your damage was a result of negligence.
Incomplete Or Inaccurate Information On The Claim Form
If the claim form is not filled out correctly or is missing important information, the insurance company will have to request additional information from the policyholder, which can delay the claim process.
Complex Or High-Value Claims That Require Additional Time To Evaluate
Some claims, such as those involving multiple parties or large amounts of money are usually more complex and take longer for the insurance company to evaluate.
The Insurance Company Has A High Volume Of Claims To Process
If an insurance company is experiencing a high volume of claims, it may take longer for them to process each individual claim.
Lack Of Documentation Or Supporting Evidence
The insurance company may require specific documentation or evidence to process the claim. For example police reports, medical bills, repair estimates, etc. If these are not provided, the claim process may be delayed until they are obtained.
Understanding The Insurance Claims Process
In Texas, insurance companies must acknowledge receipt of a claim within 15 days and render a decision on it within 15 business days of receiving all required documentation. If the claim is rejected, the insurance company must give a written justification for the rejection.
While you still need to prove your losses and expenses, your insurer will usually send an adjuster over to review and value your claim based on their appraisal.
How To Speed Up Your Insurance Claims Process
There are several steps you can take on your own to speed up the process of your insurance claim. They include:
Gather All Necessary Documentation
Before submitting a claim, make sure you have all the necessary documentation, such as proof of insurance and documentation of your loss or damage. This can include photographs, receipts, repair estimates, and police reports. Having all the required documentation ready will speed up the claims process for you.
Be Clear And Concise
When describing the loss or damage in your claim, be clear and concise. Provide detailed information about the incident and the extent of the damage. This will help the insurance company understand the situation and process the claim faster.
Keep All Receipts And Records
Keep all receipts and records related to your loss or damage. This includes receipts for any repairs or replacements, as well as any other expenses related to the incident. Your insurance company may ask for these records as part of the claims process.
Submit The Claim As Soon As Possible
The sooner you submit a claim, the faster your insurance company can begin processing it. Delaying the submission of a claim can cause delays in the process and may even result in a denied claim.
Hire A Public Adjuster
If your insurance company denies your claim, you may consider hiring a public adjuster. Public adjusters are professionals who work on behalf of policyholders to help them navigate the claims process and negotiate with insurance companies. They can help you get the most out of your insurance policy.
You Need an Experienced Insurance Lawyer
If you’re facing a possible claim against your homeowner’s insurance company, you need some skilled legal guidance. The experienced attorneys at The Voss Law Firm, P.C., have fought for Texas policyholders in insurance disputes for years. At The Voss Law Firm, P.C., you won’t pay a fee until we recover compensation on your behalf. Call us at 888-614-7730 or contact us online to schedule your free case evaluation.
