2007-09-21 17:04:26 · 6 answers · asked by jwilliams22mn 2 in Cars & Transportation ➔ Insurance & Registration
Generally speaking they have 30 days from notice of claim to investigate the loss. If additional time is needed it is extended an additional 30 days and they tell you what they need to conclude the investigation (scene photos, witness statement, driver statement, recon, etc). Upon proof of loss they have 10-20 day to pay or deny, but if the investigation is not complete they will not pay. Once the investigation is complete and liability determined, the claim is either paid in ful or part, or denied.
THIS is why you are told to mitigate your damage(s), THIS is why you go through your own insurance for your damages.
2007-09-21 19:03:13 · answer #1 · answered by bundysmom 6 · 2⤊ 0⤋
No.
When you file a claim against some one's policy - the insurance company has to do an investigation into the accident. This usually means they have to get statements from both drivers and any witnesses, photos/estimate of vehicles involved, police report, and sometimes scene photos and interview of investigating officer. There is no limit such as "30 days from date of loss to settle."
If there is a coverage question - then they have to do a separate investigation into that. Among other things - this can involve securing statements from any agents or sales persons involved, review of policy payment history etc.
If you do not want to wait on the other company to complete their investigation(s) - call your insurance company. If you have collision coverage - your company can use your policy to pay you for your damage and will subrogate (subro) the liability carrier. This means that they will ask the liability carrier to pay them back for any money they paid and for your deductible. Once they get paid, they will forward your deductible onto you.
2007-09-22 00:16:18 · answer #2 · answered by Boots 7 · 1⤊ 0⤋
There is no legal time frame other than the statute of limitations for that type of case. Once they decide to settle, they try to do it quickly.
2007-09-22 02:58:03 · answer #3 · answered by Anonymous · 0⤊ 0⤋
they usually settle as quick as possible if they have agreed to settle on it,if its still pending they could take months to settle it,it all depends on the circumstances involving all of this,if they have agreed to settle they will be doing it in due time,good luck on it.
2007-09-22 00:16:16 · answer #4 · answered by dodge man 7 · 0⤊ 0⤋
you got one year. if that isnt enough then you got to sue the insurance company
2007-09-22 01:50:36 · answer #5 · answered by Ida 5 · 0⤊ 2⤋
No.
2007-09-22 11:09:46 · answer #6 · answered by Anonymous · 0⤊ 0⤋