September 29, 2021
If it’s your first time filing a home insurance claim, you are probably wondering how long does an insurance claim take? Insurance claims can be a stressful process, and you’ll want to know when the claims process will be over so you can get your life back to normal.
The short answer is that there is no way to know for sure. The amount of time it takes for homeowners insurance to pay a claim varies from state to state. For example, home insurance companies in Texas must send payment within five days of accepting a claim. Meanwhile, in Kansas, there is no specified limit for when insurers must issue a payout.
The topic of home insurance is a complex area, and therefore, are the types of claims most likely to be rejected. However, never be discouraged from filing a claim. Although this is probably not the answer you wanted to hear, every insurance claim is different. If you file a fair claim, you will likely receive compensation, even if it takes a little longer.
How Long Does an Insurance Claim Take?
As you already probably know, when you suffer damage to your home or personal belongings because of a covered loss, you can file a home insurance claim. This way, you can cover necessary repairs or replacements. If your claim is accepted, you’ll receive a settlement payment to cover the damage. However, as we mentioned before, when you’ll receive those payments varies greatly based on the state you live in and your insurance provider.
On top of your state’s regulations, insurance companies may also have some of their own. For this reason, the best way to find out what the timeline of your claim will be by reaching out to your provider directly.
How Long Does an Insurance Claim Take? It Depends on The Home Insurance Claims Process
A home insurance claim has several steps before settlement. So generally speaking, a home insurance claim can take anywhere from 48 hours to over a year to be settled, depending on several factors.
First, the time it takes to process your claim will depend on the type of damage you are claiming.
Regardless, this doesn’t necessarily depend on the extent of the damage. Still, it does depend on the complexity of restoring the affected parts of the property. It also depends on the difficulty of repairing or replacing your home’s contents. For instance, replacing furniture damaged by a large fire might be easier and faster than fixing structural flaws caused by minor water damage.
Second, how long an insurance claim takes also depends on the number of people involved.
For example, a home insurance claim usually involves, at the very least, the insurer and an insurance adjuster. The adjuster visits the property at least once to inspect the damage. In addition, the insurance adjuster will likely want to speak to you several times about the loss before making any agreements. Once the adjuster makes an assessment, there may be a need for surveyors, builders or a removal company to help with the claim or begin repairing the damage.
Your responsiveness during the claims settlement process also influences how long it’ll take for your insurer to pay a claim.
The faster you report the incident and the more information you provide during the process, the quicker your insurance company can settle it and pay for the damage.
How Long Does an Insurance Claim Take? There Are Ways to Speed Up the Claims Settlement Process
Some insurance companies pay out claims faster than others. For this reason, it’s always important to read reviews when shopping for coverage. That way, you can identify beforehand which companies make claims processes easier.
Nevertheless, you can always take certain actions to help speed up the pace of the process. Below are some more proactive measures you can take to expedite the process:
Communicate with your insurance company
Ensure your insurance company can reach you to ask questions and clarify information regarding your claim. Try to keep yourself available for these conversations. As we mentioned above, you will also be assigned a claims adjuster who may inspect your home to estimate the cost of damage. Therefore, you must be there during their visit and stay in regular contact with them. In fact, your insurance company may even have a feature that lets you track the status of your claim—for instance, a mobile app or website.
Keep a record of expenses and payments associated with your claim.
It’s crucial you keep track of any expenses related to your insurance claim, including any payments that come in. In addition, maintain a record of any documentation that verifies the value of your damaged structures, items, or loss. Moreover, be sure to save receipts for any immediate expenses you have after a loss, such as repair expenses, to mitigate damage. We also strongly suggest you make a home inventory before disaster strikes. A home inventory is a list of your personal belongings and their value. They are quite convenient if your insurance provider needs to verify the actual cash value of your personal belongings as part of the settlement process.
Enroll in an e-payment option
Many insurance companies offer an e-payment process that you can access through a smartphone or an online portal. This option makes the actual payment process much faster than getting a check through the mail. So if you have the opportunity to enroll, try it out. You could receive payment in as little as 48 hours with some providers.
Hire a Public Adjuster
A public adjuster is an insurance professional that works for you instead of the insurance company. They are specifically trained to take care of every aspect of your insurance claim process. From filing to negotiating claims to settling them as well, a public adjuster does it all. They know the policyholder’s rights and the insurance company’s responsibilities. A public adjuster also knows all the tips and tricks to maximize and expedite insurance claim settlements. Contact AllCity Adjusting to hire a public adjuster today!
How Long Does an Insurance Claim Take and What to Expect from a Home Insurance Payment
Depending on the nature of your home insurance claim, you may receive multiple payments throughout the settlement process. So there are a few things you should know about settlement payouts:
First, the initial payment is not always the final one.
Insurance companies often send out an advance toward your settlement amount so you can get started on repairs as soon as possible.
Second, you may receive separate payments based on the structures and personal belongings damaged in a covered event.
For example, suppose a burglar breaks into your house through your window while you’re away and steals a personal item. In that case, you may receive one check to reimburse you for window repairs and another to replace your item.
Third, sometimes your settlement check is sent out to a third party.
In some cases, the payment may go directly to you. But in other cases, the payment might be sent to the contractor who oversees your home’s repairs. Or your settlement could be sent to your mortgage lender if you’re currently paying off your home and they’re listed on your home insurance policy.
Best way to beat the insurance company is to hire AllCity Adjusting
At AllCity Adjusting we help residential and commercial clients alike get the claims support they need. Moreover, we have over 50 years of combined experience helping get our clients the max settlement time and time again. If your claim has been low balled or denied entirely we can help increase your maximum settlement. Call us today for a FREE consultation. Experience the AllCity difference.
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