How long does a insurance company have to pay for a stolen car in California?

Answer 1

DOI guidelines state within 10 days of receiving proof of loss. In the case of a stolen vehicle, you are required to provide an affidavit of theft, both in writing as well as recorded statement if the insurance company asks for a recorded statement, a police report and/or recovery theft report, your finance company contact info & account number, as well as any records/receipts for the vehicle proving the condition of the vehicle as well as the mileage. If any of these items are missing this will delay your claim. Also, the insurance company must notify you in writing every 30 days if they are unable to settle your claim and tell you why. For example, if they are in need of documents they have asked you for and you have not provided them...this is just cause for the delay. So whatever it is the insurance company needs...give it to them.

Answer 2

That's a more complicated question than it appears on the surface. Most companies will try to stay within a 30 day settlement but there is no law that states they must settle with you in that time frame. If there is an active ongoing investigation, and the company has concerns, they are entitled by law to complete a full investigation. Normally 90 days is an acceptable amount of time for that. If it drags on beyond that point the insurance company should be providing an explanation of what the hold up is.