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How long does it take for the insurance company to process a claim for a stolen vehicle?
It depends on the circumstances around the claim, if there's anything suspicious about the claim, whether the vehicle was recovered, etc.
Insurance companies differ, too, on their philosophies around settling the theft of a vehicle. For instance, say your coverages and information are both in order; there's nothing suspicious about your claim; the vehicle wasn't recovered. One company may take two weeks, with the understanding that if your vehicle wasn't found within a few days, it's unlikely to be recovered. Another company may take 30 days, believing the vehicle may eventually show up in that time.
Usually, your carrier will provide you with a rental car for a stolen vehicle, even if you don't carry rental coverage on your policy. That's definitely something to look into.
If your claim is taking an inordinate amount of time -- say, it's been over 30 days -- you might want to discuss it with your claim rep or his/her supervisor. It's possible, given the circumstances of the theft, that your carrier's Special Investigations Unit (or SIU) is involved. If that's the case, you'll very likely see a delay. Insurance carriers are usually required to have an SIU department by law, and their investigations tend to get pretty thorough.
Also, keep in mind that per your policy, you must cooperate with your carrier during the handling of your claim. So, if you haven't returned all the requested documentation -- like an Affidavit of Theft -- delays will occur.
Generally between 2 weeks to 30 days. Investigations will ensue after the report is filed.
30 yrs ago when I was an ins. claims adjuster, it took on average 30 das, depending upon the make, model and age of the vehicle. It may be sooner in the case of an older vehicle that perhaps should not have been insured in the first place, or longer if the investigation revealed any suspicious information. In any case the ins. company would try to limit the extent of the rental it would incur which would have an affect on the salvage value in the event it was recovered.
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Why does it take so long to process a life insurance claim when the person dies overseas.Can the insurance company drag their feet on payout?
The fact that the death happened overseas should have no effect. If you submitted a death claim properly along with a certified death certificate they should pay ASAP. Y…ou should be getting the agent involved. He is there to help you!
It's standard procedure for an insurance company to investigate any and all claims made by it clients to insure any fraudulent activity is not occurring. For example the…y want to make sure that your car was 'legitimately stolen" and that it is not been illegitimately asked to be taken or possibly hidden just to receive the insurance money.
It all depends on the state the claim is filed. If a state does not have a set amount of time of the company to investigate and make a decision on a claim, they are required t…o do it in a "reasonable" amount of time, depending on what time of auto claim it is.
Generally speaking: If they have already made a settlement and recover the vehicle later, you may have the option of returning the settlement and taking the car back. If… they recover the vehicle before settlement is made, you have to accept the car. They are not required to make a cash settlement. If the car was damaged by the thief, they would have to settle for the difference in value (less your deductible).
no mate they wont pay u out so u just got screwed over
Will the insurance company accept your claim on a vehicle that is stolen if your late on your car payments?
They will accept almost any claim, paying it is another matter.
No, that wouldn't be a reason for claim denial. It may be a reason for them to investigate you for insurance fraud.
If you maintained "comprehensive coverage" on the car, absolutely. This differs from collision coverage in that collision coverage is triggered by a physical impact to the veh…icle and resulting damage. Comprehensive covers a broader range of occurrences. The lien holder is likely to have required you to maintain comprehensive and collision coverage in order to protect its security interest in the vehicle. That is, the insurance provides some assurance that the lien will be satisfied from the insurance proceeds. In that respect, the lien holder likely required that it be named as a "loss payee" on the policy, so any settlement will be paid jointly to you and to it.
The answer here is pretty arbitrary. Insurance companies are expected to resolve claims in a reasonable amount of time, but that time is determined by State law and may differ… from State to State. However, the longer a claim is open, the more it costs the company in question, and since they are 'for profit' businesses, they try to settle it as quickly and inexpensively as they possibly can.
It just depends on the complexity and severity of the loss and the ensuing claim. It could take a few days, a few weeks or sometimes even months.
Hi there, They gave you an opportunity to give them your insurance information and you declined. If the insurance company wrote the estimate it is lower than any shop would …write. (Why would they write an inflated estimate? To pay more?) They have as long as the property damage statute of limitations is in your state, probably at least 2 years or more. Save yourself some time and money, either pay them out of pocket or turn it in to your insurance company. My guess is that the file is on the way to their attorney office at this moment. Better make plans for when the summons arrives. Regards, Brett
It takes at least 7 days but could take years.
Once you've reported an accident to your insurance company they will assign a claims adjuster to your file. The claims adjuster will meet you in person or contact you by phon…e to determine what is covered by your policy. The claims adjuster will let you know where to take your vehicle to be assessed to determine if it is a write off or repairable. If the accident was the fault of another party, then your adjuster will contact the other insurance company of the other party, assuming you were able to obtain the information of the other party. If anyone was injured in the accident then information from a doctor will need to be provided to the insurance company, so they assess financial compensation for the injury and time off work.
If they denied that claim for cause, such as fraud, then there is nothing you can do. If they did not have cause, you can try contacting the department of insurance in you…r state. That is of course, as long as you had comphrensive coverage on the policy. If you did not have coverage, they do not have to pay for anything.
It will vary based upon the company and any complexitiesencountered in processing, such as claims by multiple claimants.However, because annuities are essentially insurance pr…oducts,State insurance regulators regulate them. State statutes generallyprovide a time frame for payment. If the time frame cannot be met,the same statutes normally also have provisions for notifying theparties involved as to what further material is needed or otherprocedures to be followed.
since the claim is processed than you do not own the car anymore.