How Long Does It Take For An Insurance Company To Pay Out A Claim?

When people get into automobile accidents, often the first thing that happens is a sense of nervousness and panic about whether they will be able to afford the repairs and/or medical bills that might be associated with the accident. This is especially true if it is someone’s first accident and first claim. There is also a realization that a functioning car is something that most people need to get to work and to take care of their responsibilities. Some car insurance companies are better than others regarding customer satisfaction on the processing of claims. Regardless, there are many tips and strategies; in addition to rules and regulations, that can help you get your insurance claim processed efficiently.

Auto Insurance Companies Often Set a 30 Day Goal

There are many people involved in processing an insurance claim. Many companies look to have all claims processed within 30 days. For this to happen, however, realize that you are part of the equation. By making yourself available to talk to the car insurance company and their team, you will be more likely to get your claim processed promptly. You will be working with a claim’s adjuster, body shop, insurance company staff, and sometimes a few other people as well. In the ideal circumstance, everyone is cooperating, and things happen efficiently.

Some States Have Laws Requiring Companies to Process a Claim Within 15 to 60 Days

In some states, there are laws requiring companies to process claims within a specified period. Again, being available and providing the needed details will help keep everything on schedule. There are some times where it may take a few days for you to determine whether or not you want to file a claim. If people are injured in an automobile accident or it is unclear who was at fault in an accident, you will want to file a claim. With some companies, there is a requirement that you notify them of potential claims, even if one is not officially made.

If you are the only person in an accident, and the accident only involved your vehicle, getting a repair estimate before filing your claim will help you determine if you will save more money by fixing the damage yourself rather than making an application.

Your Insurance Company May Provide Some Money to You Immediately

It is possible that your insurance company will provide you with some money immediately, in order to help you get your initial needs covered. This is not always the case, but it can be helpful for things like roadside assistance and rental car coverage. Depending on the insurance company, the company may deposit money into your account, but it may also reimburse you for the expenses as a secondary option.

Injury Claims Take the Longest to Process

There are a lot of variables when it comes to injury claims, making them take longer to process than simple damage claims. The more simple the claim, the more likely it is for the application to be processed quickly. If there are lost wages, medical bills, and other forms of compensation involved in the claim, more investigating may be necessary. The insurance company may need to coordinate with more people, including a healthcare provider. Complete compensation in these cases could take weeks to months to receive.

What Can Delay the Payout from My Insurance Company?

There are quite a few things that can delay a payout from your insurance company. Poor communication generally tops the list, and this is something that you will want to focus on, on your end as well as theirs. By making yourself available and being proactive, you can help the process be as efficient as it can be.

Disputes with your car insurance company can arise, which can add time to your payout.

If you are unhappy with your repairs, you may need to request the auto shop fix the issue further and then ask the insurance company to cover the added repairs.

For comprehensive insurance claims, there may be a large number of people who are all looking to get their applications processed at the same time, which can cause delays.

If your deductible has not been paid, your automobile insurance provider will likely delay the repairs on your vehicle until it has been paid.

How To Speed Up Your Insurance Check

The best way to speed up the receipt of your insurance check is to make sure that you are available and following up with the car insurance company with all of the necessary information in efficient ways. Sometimes you may need to call the insurance company again if they have not responded to you within a number of hours.

Knowing the amount of time your claim must be legally processed in, as well as your deadlines, can help speed up the process. Remember that if another driver is involved, you will need to file a police report. This way the other party will not try to blame you for the accident when it is not your fault.

It is up to the police to decide who is at fault in an accident, so do not admit guilt. Let the insurance company and police who are investigating determine who is responsible. Your insurance company is on your team, so let them hash out the necessary details and do their job.

Conclusion

Filing a claim is a process, and can be time-consuming. Many moving parts are all communicating and trying to work together as best they can. Communicate with your car insurance company as often as you can; they are there to assist you and help make things go as smoothly as possible.