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How long can an Insurance company take in settling a claim when it is there insureds fault?
Wiki User
∙ 12y ago
The answer here is pretty arbitrary. Insurance companies are expected to resolve claims in a reasonable amount of time, but that time is determined by State law and may differ from State to State.
However, the longer a claim is open, the more it costs the company in question, and since they are 'for profit' businesses, they try to settle it as quickly and inexpensively as they possibly can.
Wiki User
∙ 12y ago
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How long after an insured dies can a beneficiary get paid on a life insurance policy?
As long as the policy was in force at the time of the insureds death you can place a claim. Simply contact the agent who will be happy to assist you or contact the claim department directly at the insurance company.
What is loss adjustment expense?
Everything an insurance company pays in recording, adjusting, and settling a claim. LAE does not include the claim payment itself, just everything else.
If the battery is dead on your 1995 Tahoe and the key will not open the door how do you get in?
CHeck to see if your insurance has comprehensive coverage and see if your insurance company will reimburse you for the window breakage. If so then break the window to get in and file the claim for reimbursement with your insruance company. In SC, State Farm covers this for our insureds.
What effect does a claim has on insurance company?
A claim is a liability on part of the insurance company. If a customer makes a claim it means that the insurance company has to pay the customer for the amount is eligible to claim and hence it is a expenditure on the balance sheets of the insurance company.
If a person has already claimed damages from the at fault drivers insurance company can that person still go ahead and sue the person at fault?
No, the insurance company when settling the claim will have you sign a waiver of damages for their insured before giving you a check.
Are you required to report an accident to your insurance company when settling out of pocket?
You are supposed to and I would reccommend that you do. You simply notify them but do not place a claim. Covers you if the out of pocket does not work especially if a bodily injury claim comes along!
What if the delay in filing an insurance claim is the fault of the insurance company?
That's not very likely. The insurance company does not file your claim, they accept your claim notice from you. You have to file your claim with the company, not the other way around.
Does a homeowner have to accept what the insurance company offered with settling a claim?
You do not have to accept what the insurance company offers if you are willing to hire a lawyer to take them to court, but that remedy may prove to be more expensive than the potential gain in your settlement. Lawyers charge a lot.
How quickly are funds disbursed for life insurance settlements?
Funds are typically resleased at least 6 months after the offical date of death. This proces can be faster depending on the claims process of the insurance company that is settling the claim.
Can I be sued for a bad faith insurance claim?
Usually in a bad faith insurance claim the insurance company is in the wrong. A bad faith claim is when an insurance company fails to pay out what was promised on the claim. More than likely you could sue the insurance company and have a chance at winning your case.
What are your rights to prevent your car insurance from settling with the other side if you honestly feel this is a fraud case?
Typically, an insurance policy gives the insurance company the right to settle any claim at its sole discretion. So, you may have no right to oppose the insurance company's decision to settle! But read your policy to find out for sure.
How do I claim my insurance from Aetna Insurance Company?
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