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How Long Does an Insurance Company Have to Settle a Claim?

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Video How long to settle auto insurance claim

Are you wondering how long it typically takes for an insurance company to settle a claim? The good news is that in most states, insurance companies have a timeframe within which they must settle a claim. On average, it takes about 30 days to settle an auto insurance claim. However, the specific time limit may vary depending on the state you’re in.

Time Limit for Claim Settlement by State

Different states have different rules and regulations when it comes to the time insurance companies have to settle a claim. Let’s take a look at some examples:

Reading: How long to settle auto insurance claim

Alabama

  • Claim settlement time limit: 75 days

Alaska

  • Claim settlement time limit: 40 business days

Arizona

  • Claim settlement time limit: 40 days

Arkansas

  • Claim settlement time limit: 45 business days

California

  • Claim settlement time limit: 85 days

Colorado

  • Claim settlement time limit: “reasonably soon”

Connecticut

  • Claim settlement time limit: “with reasonable promptness”

Delaware

  • Claim settlement time limit: 45 days

Florida

  • Claim settlement time limit: 64 days

Georgia

  • Claim settlement time limit: 40 days

Hawaii

  • Claim settlement time limit: 45 days

Idaho

  • Claim settlement time limit: “reasonably and promptly”

Illinois

  • Claim settlement time limit: 45 days

Indiana

  • Claim settlement time limit: “reasonably soon”

Iowa

  • Claim settlement time limit: 75 days

Kansas

  • Claim settlement time limit: 25 business days

Kentucky

  • Claim settlement time limit: 45 days

Louisiana

  • Claim settlement time limit: “reasonably soon”

Maine

  • Claim settlement time limit: “within a reasonable time of receipt of written notice”

Maryland

  • Claim settlement time limit: 30 business days

Massachusetts

  • Claim settlement time limit: “quickly”

Michigan

  • Claim settlement time limit: “quickly”

Minnesota

  • Claim settlement time limit: 45 business days

Mississippi

  • Claim settlement time limit: 40 to 50 days

Missouri

  • Claim settlement time limit: 25 days

Montana

  • Claim settlement time limit: “reasonably soon”

Nebraska

  • Claim settlement time limit: 45 business days

Nevada

  • Claim settlement time limit: 80 business days

New Hampshire

  • Claim settlement time limit: 35 business days

New Jersey

  • Claim settlement time limit: between 40 and 100 days

New Mexico

  • Claim settlement time limit: “reasonably soon”

New York

  • Claim settlement time limit: 35 business days

North Carolina

  • Claim settlement time limit: “reasonably soon”

North Dakota

  • Claim settlement time limit: with “reasonable promptness”

Ohio

  • Claim settlement time limit: 46 days

Oklahoma

  • Claim settlement time limit: 75 days

Oregon

  • Claim settlement time limit: 60 days

Pennsylvania

  • Claim settlement time limit: 25 days

Rhode Island

  • Claim settlement time limit: 55 business days

South Carolina

  • Claim settlement time limit: with “reasonable promptness”

South Dakota

  • Claim settlement time limit: no specific requirements

Tennessee

  • Claim settlement time limit: with “reasonable promptness”

Texas

  • Claim settlement time limit: 35 business days

Utah

  • Claim settlement time limit: 45 days

Vermont

  • Claim settlement time limit: 35 business days

Virginia

  • Claim settlement time limit: “reasonably soon”

Washington

  • Claim settlement time limit: 45 business days

West Virginia

  • Claim settlement time limit: 40 business days plus a “fast” investigation

Wisconsin

  • Claim settlement time limit: 10 days

Wyoming

  • Claim settlement time limit: “reasonably soon”

What to Do While Waiting for a Claim to Be Settled

If you find yourself waiting for your insurance claim to be settled, there are a few things you can do to help speed up the process. First, make sure you respond quickly to any requests for information from your insurer. This will help keep things moving along smoothly.

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If your claim is taking longer than expected and you’re getting frustrated, don’t worry. You have options. Start by reaching out to your insurer directly to find out what might be causing the delay. If their response doesn’t satisfy you, you can contact your state insurance regulator for assistance. And if you believe your insurer is acting in bad faith, it may be worth considering hiring an attorney.

For more information on auto insurance claims, be sure to check out WalletHub’s comprehensive guide.

Source: https://amajon.asia
Category: Other

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