How long does an insurance claim take
Let’s face it, claims are something that none of us want to go through. But in the event a loss occurs, the biggest question people ask is how long the claim process will take from start to finish.
There is no cut and dry answer when it comes to the length of time taken to settle a claim.
Some of the major factors in determining how long a claim can take are.
- Type of insurance policy- Home, Auto, Business
- Number of people involved
An insurance company will do their due diligence when investigating a claim. A homeowner’s or automobile insurance claim might move much quicker than a business liability claim happens.
The same goes if you are the one person involved. A single-car auto accident, where you back into a pole might move much quicker than a 3 car vendor bender.
The better and quicker the communication is between the insurance company and the involved parties will help significantly when determining how fast you will be paid on your insurance claim.
Tips to make the claim go faster
When it comes to the communication aspect, the most important thing you must do is to make sure that your agent or insurance company has all of your pertinent and up to date contact information, phone numbers, and email addresses.
This way they can contact you the preferred way and will save time from playing phone tag.
Communication isn’t just important for you and your insurance company. It is also important with the other parties involved. If you are involved in an auto accident, make sure all parties have each other’s phone numbers.
DO NOT rely on the information the police officer puts in the report because contact information is not one of those.
What to do after an accident happens?
If an accident happens, make sure you contact your insurance agent or company as soon as possible to get a claim started.
Once the details are processed, a claim number and adjuster are assigned. Ideally, a company representative will reach out to you within 24 to 48 hours to discuss with you the next steps, determining liability, and start the process of reviewing your damages and getting you paid. Events such as a major storm in your area, or a long weekend, could cause delays.
The claims adjuster will need to verify that there is coverage and determine who is liable along with reviewing the damages and repair costs.
If this happens to be a third party claim, meaning you are going through a claim with another person’s insurance company, it may take even longer to process. That insurance company’s responsibility is to their insured first, not you.
How to advocate for yourself during a claim?
It is hard for an insured to advocate for themselves during an insurance claim, especially a claim with multiple parties involved.
At the time of an accident is important to get a police report, insurance companies will use this as a determining factor at who is at fault.
After the claim gets processed, if problems arise, it is important to have an independent insurance agent who can help advocate for you. They will be honest and let you know if there is more that can be done and talk to the insurance company directly.
If you don’t have a relationship with an independent insurance agent now is the time, do it before a claim happens so you can have someone in your corner to help make this process much smoother.
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