How long does it take for an insurance company to pay out if they have to do an investigation?
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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. ( Full Answer )
That should have been noted in the release forms that all insurance companies require an injured person to sign. If it was not noted then it will be at their discretion. The injured person has the option to dispute any decision through proscribed legal venues.
There may be exceptions, but under most policies you are covered as long as your son had your permission to drive the car. At one time there was an amendment on my policy stating that my car was NOT covered if my daughter was driving (after several tickets and three at-fault accidents), but that wou…ld not be normal. If your company is investigating, that probably means they are trying to determine if there is any validity to the other party's claim. They would not have to look any further than the policy to determine that your coverage did not include the injury. ( Full Answer )
The laws vary from state to state concerning time requirements on reporting/responding to losses. Additionally, many states do not have a specific insurance regulation saying that a claim must be settled in xx amount of days. There are, however, other relavent statutes that apply to claims. For exam…ple, the insurance company may be required to acknowledge your claim and assign a claim number to it within 10 days (working days, calendar days). Your best bet is to call your department of insurance to find out what time limits the insurance company is legally bound by. The DOI in your state probably has a web site that you can search around in. ( Full Answer )
Does an insurance company have to take into consideration and pay for future anticipated medical care when settling?
Depending on your state.....I settled not to long ago and they paid the doctor fees accrued at the time and took into account the cost of future medical bills. Remember though, once you settle you are done, and if your expenses are more then they estimated you will be responsible for paying them.
Not sure about 'legally', but they must fully investigate all aspects of the claim, this would minimally consist of statement from all parties inspection of damge, etc.
It depends on the procedures of your particular insurance company. Some companies check your MVR more often than others. It depends a lot on your age, prior history, type of car, and employment. AS SOON AS YOU NEED TO UPDATE ANY INFORMATION OR AND RENEW YOUR POLICY, THEY MIGHT CHECK YOUR RECORDS.
Answer . I don't know, but they do pay interest on the $$$ from the date of death.
Answer . \nNormally as soon as the car is determined to be a total loss there should be an offer made within a day or two at the most.
Answer . Depending on where you are (I can only speak for the U.S.), there may be no restriction on how long insurance has to act on a claim. Some states to have a statutory limit for responding to a claim (for example, ten working days) and others, like Florida, do not. They allow market force…s, such as auto repairers and customers, to force action. In most states, the funny part is, you have a statutory limit on how long you have to FILE a claim. Quaint, isn't it? ( Full Answer )
Can carriers raise your premiums for a serious accident where your car is totaled and the insurance company pays for your car but the insurance investigator ruled that the accident was not your fault?
\n. \n Answer \n. \nyes if your ins.co. pays for your car.\n. \n They Can \nEven if they don't pay for your car. My agent warned me that my homeowners premiums could be raised just for filing claims! They used to send an adjustor out automatically if there was a hailstorm or windstorm,… but not any more. I just wanted an ajustor to estimate the damage last spring and let me know if it would exceed my deductible. ( Full Answer )
Can a life insurance company take as long as they want before they pay a claim or do they have a time limit?
Answer . \nA time limit is imposed by state law. Consult your local state insurance board.
Answer . Insurance companies are in the business of doing what's best for THEM. They don't care that you are having trouble because of the loss that their client caused.. A lawyer can help you, or contact your own insurance company to see if they can expedite the process. If those options don't …work for you, contact your state insurance commission for advice and possibly assistance.. Actually, one thing that CAN hold up a claim, is the fact that the claims representatives may have to investigate whom is to be held at fault. When the insured and the claimant have conflicting stories do you not deem it fair to look into both parties allegations? Or should the insurance always just pay out whatever to whomever and then have to raise premiums for many policyholders? ( Full Answer )
\nOnce you send in the beneficiary claim form and an official death certificate, the benefits are usually paid within one to two weeks.
Presuming the policy was "in-force" at the death of the insured:. When the proper certificates (proof) of death are not provided.. When an insured dies within the two (2) year contestabile period, and fraud is discovered with regard to criminal records, health, age or any other fact or condition w…hich would have caused the insurance company to decline coverage.. And, of course, they do not pay if the policy has lapsed beyond the usual "grace period." ( Full Answer )
The insurance companies do not like to give away their money on accident settlements so they take their time for a number of reasons. One is to let them fully analyze the nature of the injury of the plaintiff and the liablilty of their insured. This keeps them from overpaying on injuries. A second, …is to simply stall the issue hoping the plaintiff will get itchy for the settlement and maybe get afraid that a jury might award nothing. This makes plaintiffs agree to take less. A third is that as long as the insurance company still has the money in its own accounts, it is invested and earning money for it. Insurance companies make the most of their money by investing the premiums, not just keeping them. The longer they keep the settlement amount the more money they make on their investment. I am sure there are more than just these, but these are enough for now. ( Full Answer )
If you carry full collision and replacement of your vehicle, depending on your insurance company, they will pay the blue book value of the car if it is totaled. That is why it is important not to ever owe more than the car is worth, which is referred to as "being upsidedown."
Within the 2 year contestibility period they usually do and have the right. Generally after that period of time a clean death certificate is usually adequate. It is also routine for investigation in cases of foreign death or a death brought about in a non-natural manner. Answer If you have a …life insurance claim that has been denied or is being delayed you should contact The Center for Life Insurance Disputes for a free consultation. ( Full Answer )
In most cases it is not local police that report points on alicense to the insurance company. The points assessed on a driver'slicense are reported to the state by the courts after the courtdecides punishment. The state then reports points to an insurancecompany. This could take 2 to 3 weeks, unless… the license isimmediately revoked, then the state is informed within 1 to 3 days. ( Full Answer )
After filing a claim it should not take more than 30 days. They just need time to find out if it were an accicdent.
Not all insurance companies take so long. One thing that it could be is the majority of the carriers send out a letter to the insureds asking if they have any other coverage. Most people just ignore these ... I use to. So the claim is just put in a "holding" spot until they find out if you have othe…r coverage or if they are your only coverage. Usually from that point things should move quickly unless the doctor has not coded it properly - it's done with CPT codes. Even the carriers overlook things. If your insurance company has any online services - sign up for that so you be can go online and update the majority of your information before anything or claim ever has to be paid. ( Full Answer )
Insurance companies will not pay if the beneficiary is convicted of the homicide. Most insurance companies will pay the beneficiary if that person was not involved and the policy does not exclude homicide as the cause of death.
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 they want to make sure that your car was 'legitimately stolen" and that it is not been illegitimately asked to be taken or possibly hi…dden just to receive the insurance money. ( Full Answer )
they are either uncertain o how it may have happened or believe it could be fraud. they are either uncertain o how it may have happened or believe it could be fraud
Once you properly file your claim it only take a few short weeks to get your settlement. Contact the agent that sold the policy and enlist his help. If not available just call the claims department at the life company and file the claim.
It was my experience that they compensate rather rapidly, assuming death certificate copy was promptly provided.
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 to do it in a "reasonable" amount of time, depending on what time of auto claim it is.
If a insurance company pays for Temporary disability are they liable to pay for long term disability?
Insurance companies are notrmally very specific about what they will and will not cover, the policy may only cover short term temporary disability - this does not mean the insurer has any obligations for longer term payouts, you need to read the policy carefully and if still unsure then ruing the in…surere or broker that sold you the insurance ( Full Answer )
Great question! Most state laws require the insurance company to pay a claim within 30 to 90 days, however there are caveats. The caveat is "unless more time is required". This, of course, allows an insurer to delay as long as they want. If you have a claim that is being delayed I recommend you cont…act the Center for Life Insurance Disputes. They help people with delayed and denied life insurance claims. ( Full Answer )
If you have long term disability insurance with your company but are paying for it 100 percent and are terminated from the job can you continue to pay the insurance privately and keep the policy?
This will be dependent on the coverage that your are offered and have been paying for at work. Some companies allow for individuals to continue coverage on an individual basis and others do not. The best way to find out is simply to call your specific insurance company and ask. If you are in good… health, you may want to look into what is offered on the individual market as well. Group coverage is great for those who cannot qualify for individual coverage, but the benefits it provides are lacking in comparison. If you are able to qualify for individual coverage, even though it may cost more, it may be the best option. ( Full Answer )
You pay as long as you would like to policy to cover you. Sometimes you can go monthly, but the policy will eventually cancel if they do not receive payment.
The general answer, absent a contractual or statutory requirement is, "a reasonable time". When a car is determined to be a total loss, it essentially means that the insurer has decided that the cost of repair exceeds (usually, some statutory) percentage of the actual cash value of the car. In tha…t instance, the law requires that the be declared to be a total loss. The time consuming part of that process can be in determining the actual cash value of a car of like kind, quality, and other features. While there are commercial guides to help in that determination, often there is a period of negotiation with the owner as to the final value. Many States provide that once a claim has been resolved by agreement as to the value, and all necessary documents have been signed (in this case, proof of claim, title certificate, and other documents that the State or the insurance company may reasonable require), payment must be made within 30 days. However, the period may be shorter or longer and State law will govern. ( Full Answer )
i think its insurer who handle all the activity that's why but if you want best answer on this then visit ICICI Lombard site for more support on insurance question.
In general, yes. Most state have adopted their own version of a uniform law having to do with the time within which claims must be paid (promulgated by the National Association of Insurance Commissioners). Depending upon the jurisdiction, it may be contained within a body of statutes called the Clai…m Settlement Practices Act (or name of similar import). While it may not deal specifically, or only, with policies of this type, it may well include them. Laws of this type require insurers to promptly investigate claims, and in the absence of factual or coverage questions, pay claims within a stated period (frequently, 30 days). If questions do arise as to the validity of the claim, the insurer must notify the insured/beneficiary within a stated period of time of the question(s). The statutes generally also provide a mechanism by which to ask for the intervention of the state insurance regulator. Naturally, the policyholder or beneficiary may also resort to the courts by filing suit. However, other efforts should be exhausted before doing that. ( Full Answer )
i wish i could answer, but my father passed away august 31st 2012, and we still have not been paid.
You can sue anyone for anything; the question is can you win. If you have fulfilled all of your contractural obligationsregarding a claim, including making sure your policy had not lapseddue to nonpayment of premiums and making sure that all thenecessary claims paperwork includes all the required d…etails and isproperly submitted, and yet the insurance company continues not tohonor their side of the contract, whether they have simply delayedyour payment for an unreasonable period of time or if they gave youa reason for denying your claim which you proved to be untrue,filing a lawsuit against them may be the only way to collect whatthey owe you. Immediately start logging everything that has to do with the claimand your attempts to collect. Include dates and times. It may beinvaluable to have recordings of your encounters with the insurancecompany. Keep in mind that you may be legally required to informthem when you are making a recording. I think a judge can honor adefendant's request to disregard any illegally obtained evidence.Visit a web site like FindLaw to learn whatever else you need toknow. Brainstorm every question you could possibly think of thatyou might be asked in court, and make sure you have the answers toevery one of them when you enter the court room. ( Full Answer )
It depends on the severity and complexity of the loss. They might pay you in 3 days or 30 days or 60 days. There is no wayof knowing without the details of your loss.
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. ( Full Answer )
Providers who are contracted with your insurance (aka participating or "in-network") have to follow the timely filing guidelines of the state they are licensed and provide services, which is typically 180 days from the date of service. I believe 180 days has been the case since 2002. However, you ma…y be interested to know that if your insurance is through your employer and they are considered a national company the chances are your policy gives providers 12 months to file their claim. The good news for the insured is the state guidelines have precedence over a national policy, consequently, the provider has to get the claim in by 180 days, not 12 months. Be careful though, there are exceptions, therefore the best advice, as was written earlier, is to call the customer service office that handles your insurance. ( Full Answer )
An insurance contract is an agreement between the insurer and the insured. By its terms, in return for the payment of a premium by the insured, the insurer agrees to pay on behalf of the insured, certain damages for which the injured may be legally liable. The insurer may have other obligations, too…, such as to provide a defense (hire a lawyer and pay related expenses) on behalf of the insured. It is important to understand that both the insurer's and the insured's obligations are specified in the policy. Therefore, if there is an occurrence that falls outside of the undertakings of the contract, the policy will not provide coverage. An example of this is that an auto insurance policy does not provide coverage for damage to furniture caused by a house fire. Likewise, if the insured has not paid premiums as agreed and the policy lapsed before a covered occurrence happened, the insurer may properly deny coverage because the policy was not in force at the time of the occurrence. There are other circumstances under which an insurer may be within its rights not to pay. Just what those circumstances are depend upon the kind of insurance involved and the facts of the dispute. ( Full Answer )
It's just up to the company. They may or may not make a second offer, depending on whether they are going to stand firm on the first offer as a fair and adequate settlement or not.
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.
How long does it take for Assurity Insurance company to confirm assignment of policy of assignment process?
Usually the assignment process should be completed within 15 days. Talk to your agent or call Assurity direct at Toll free: (800) 869-0355
When an insurance company is dealing with a fire in your home how long would it take for the replacing of your home?
You will have to ask a Home Builder (Contractor) about how long it will take to rebuild your house. Your insurance company can usually resolve the claim portion withing 60 days. If you are having a disagreement with them then it could take longer. Your Homeowners Insurance company won't be reb…uilding the house, they just pay the bill to whomever you choose to as the contractor to build the house for you. ( Full Answer )
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 limita…tions 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 ( Full Answer )
How long does it takes to the insurance company to approve or denied an application for life insurance?
There are insurance plans that can get instant approval, or situations when medical records are needed and it could take up to couple of months, depending of the Dr's office and how fast are they sending the records to the insurance company. Usually, when you're looking for the cheapest possible in…surance, then blood tests, EKG, urine samples are required, and the process will take longer. If you're looking for a fast, simple solution, the premiums will be much higher, because there is more unknown risk that the insurance company is taking. ( Full Answer )
In general, insurance policies will have a grace period within which premiums can be paid after the regular due date. If the premium is paid within the grace period, coverage continues as normal. If not paid by the end of the grace period, the policy lapses. If a claim occurs after the policy has la…psed, there will be no coverage. The policy may contain language limiting your ability to make a claim if the premium has not been made on time, although the grace period has not yet expired. Therefore, the precise answer to your question will be dictated by tje language of the policy. In all events, you should certainly make the premium payment before the grace period expires and the coverage lapses for non-payment of premium. ( Full Answer )
You will continue to pay insurance premium to renew the policy,irrespective of the claim to be submitted after truck accident.
On average a company has 60 to pay the settlement or notify the beneficiary if there are any problems concerning the settlement. If the beneficiary killed the insured person the company can refuse to pay.
If you feel that you were properly insured (not under insured) andthat you met all the terms and conditions of the policy, then youshould write to the company asking them why they will not honourthe contract. Once you have their reply and if you believe they are still wrong,then you can usually go t…o arbitration (they should tell you how todo this in their reply to you), or you can consult anattorney/lawyer for advice. ( Full Answer )