How long do a person wait to turn it over to there insurance? Do they usually do it soon or no? If they wait longer to it hurt them in the long run or no?
2007-08-16 05:41:34 · 6 answers · asked by John 1 in Business & Finance ➔ Insurance
Premise Liability Lawsuit due to negligence
2007-08-16 05:42:52 · update #1
You need to turn it into your insurance company as soon as you are served with the lawsuit. You don't wait even a day. Waiting may jeopardize your coverage.
2007-08-16 05:56:36 · answer #1 · answered by fighting saints 6 · 0⤊ 0⤋
You turn a law suit over immediately!!! Your carrier will need to know how you were served and when.
Your insurance policy should have a section in it titled General Conditions (or something similar). In there - there should be a section "Duties After Loss". In there - it says that you have to notify them immediately in the event of a law suit. Failure to do so, can result in your insurance company denying coverage.
When a law suit is served - the clock starts running. You have a limited amount of time (varies by state) to get an answer on file. That means - you have to get the suit to your insurance company - they get it to an attorney and the attorney to get an answer on file. This is a lot to do in only 20-30 days.
Failure to do this will result in a default judgment against you (ie - you automatically lose).
You should notify your insurance company of the loss as soon as it happens. That way, they can investigate it. If your policy covers the loss and they believe you are responsible for the other persons injury - they will try to negotiate & settle the claim. Most claims do not go to suit. Don't wait for the other person to get ticked off and file suit to notify your carrier. All you do is put your carrier behind the 8 ball and lessen their ability to help you.
Depending on the laws of your state and the language in your policy, your carrier may end up denying coverage b/c you failed to live up to your policy conditions if you wait too long.
2007-08-16 13:05:46 · answer #2 · answered by Boots 7 · 0⤊ 0⤋
Your insurance policy has the answer to this question, if you actually read it. You are required to notify the insurance company as soon as possible. Delaying notification to the ins. co. makes it more difficult for them to investigate the real factors in the accident. If you waited too long and the original evidence, etc., is no longer available the insurance company can deny to respond. Their attorneys will investigate the accident and there is no extra cost for you. The corporate attorneys and claim investigators are already at your disposal when you are insured with the company. Good luck. I hope it's not too late. Also, don't just tell you insurance agent about it. Write directly to the insurance COMPANY and copy all your paperwork for them. The insurance agent is not usually trained in understanding claim management and liability laws.
2007-08-16 06:00:14 · answer #3 · answered by Angela S 2 · 0⤊ 0⤋
TELL THEM NOW!! If you have been sued and served with suit papers, your insurance company has 20 days to set up the claim, get it to an attorney, AND file a legal answer in the court system. If you wait so long that they can't do that, and that they can't get any default against you overturned b/c you sat on your papers for too long, then you won't be covered or insured for the claim b/c your failure to cooperate w/ your own defense prevented them from doing their job. TELL THEM NOW! CALL THEIR 800 24/7 NUMBER. TOMORROW GO TO YOUR AGENT AND DELIVER THE PAPERS! DO NOT WAIT
2007-08-16 14:54:24 · answer #4 · answered by Anonymous · 0⤊ 0⤋
You allow you insurance company to handle it IMMEDIATELY!
2007-08-16 05:50:18 · answer #5 · answered by Anonymous · 1⤊ 0⤋
you need to ask your insurance carrier!
2007-08-16 06:53:41 · answer #6 · answered by Anonymous · 0⤊ 1⤋