Each situation is different when filing a claim, which is determined by your Insurance Company. However something to keep in mind, there are time limits which the Insured and the Insurer have to respect. Each claim has a limited time period the claim must be filed. Also, the Insurer has their limited time period, in which they must respond to the Insured, regarding their claim.
As a Property Owner, there is a time limit for filing a Hurricane Claim, and any other claim. For Hurricanes, the time limit is 3 years for you to file a claim. This means the claim must be filed within 3 years of the Event or Accident occurring. For filing any other claim, such as a Water or Mold claim, a property owner has 5 years. This means the claim must be filed within 3 years of the Event or Accident occurring.
In addition to the Insured’s time limits, the Insurer or Insurance Company, also has time limits that they need to abide by per State Laws. When a Policyholder files any claim, the Insurance Company has 14 days to address it. With that being said, once they inform the Policy Holder that they have received the claim, the Insurer may request documents, receipts for repair costs, photos, videos, etc. of the damage. In addition, the Insurer has to reply within 90 days of the claim being filed. And the last deadline the Insurer has to abide by is the settlement payment deadline. Once a settlement decision has been made, the Insurer has to make payment within 20 days of the settlement date.
Should a Policyholder feel their Insurer is operating in bad faith, which means the Insurer refuses to pay a policyholder’s legitimate claim or investigate and process a policyholder’s claim within a reasonable period, they can always take the claim to legal or appraisal, which we will discuss later. Should a PolicyHolder feel their claim is not being handled properly, and wish to inquire more about the options of Appraisal or Legal, Public Adjusters are available to answer any questions.
Find out more about time limits with filing a claim, and/or more information about settlement options by calling Sunrise Public Adjusters today, and have a Public Adjuster come to your property absolutely free. We are always happy to help!
Sunrise Public Adjusters 754-400-7445 Intake@sunriseclaim.com