How long do you have to make a claim with insurance?

Answer 1

Prompt reporting of a claim is listed as a duty of insureds in most policies. This is important to give the insurer every opportunity to investigate the loss, document all damages, and if applicable, pursue sibrogation. Insurance companies have a right to recover the money they spend on a claim sometimes and thus have a right to ensure that their chances of recovery are good.

First-party claims (claims against your own policy), may be limited in time from the standpoint of being reported "as quickly as practicable" (this is the language often appearing in policies). If the claim is denied and you wish to file suit against your own insurer, absent a more specific statute, you are required to file suit within the statutory period ("statute of limitations") for suit on a written contract. Keep in mind, though, that there may be a more specific limitation period, and do not interpret this as legal advice.

Third-party claims (claims against someone else) also have time limits. These limits are also called statutes of limitations, and are statutory in nature (written into state or federal law). They differ from the contract statutes of limitation in the sense that, rather than being based on the insurance policy as a written contract, they are based on the underlying occurrence that may trigger the applicability of the insurance (such as negligence). Often, these statutes of limitation are different from the contract statute of limitation.