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How long does it take for homeowners insurance to pay a claim?

How Long Does It Take for Homeowners Insurance To Pay A Claim?

Insurance companies can take up to a couple of weeks to several months before paying a claim, depending on your state laws and where you’re residing. State laws require insurance companies to pay their customers’ claims in a suggested timeframe. However, not every state has this type of law. In some states, the law gives 10 to 30 days for insurers to accept the claim receipt and 40 days to decide whether they will accept or deny the claim.

There is no exact payout time frame when it comes to homeowners insurance claims since there’s no federal law that regulates this. Keep in mind that every claim is different and processing times can differ greatly. Two customers might file for the same claim such as damages made by wind and hail, however, the circumstances surrounding each claim are different from each other. The first claim might have experienced minor damages only, while the other claim might have bigger problems to fix. It is likely that the former claim will be processed faster than the latter one because of the differences in the complexity of repairs required.

Here’s what you should do after filing a home insurance claim

  1. Don’t just wait for your claim to be settled because it may lengthen the process more. Let your adjuster know that you’re on top of things by making a follow-up about your claim.
  2. Instead of waiting for emails, ask if they can email important forms and documents right away for you to avoid losing time.
  3. Take notes on the conversations you will have with your adjuster and save the dates you’ve talked to them.
  4. Collect all of your home insurance policy receipts and make copies of it in advance to save time.
  5. Read your policy thoroughly and comply with the requirements stated in it. Also, look for the requirements stated by the state law.
  6. Take photos of the damages before repairs or any clean-up will be done.
  7. Get some estimates to contractors about the repairs or replacements that will be needed. The claiming process will run smoother if you do this early.
  8. Make some necessary repairs temporarily to avoid further damages or loss. For natural disasters, insurance companies may take a while to process your claim because a lot of customers file claims during that time also. Notify your insurance company immediately if you want to clean or make some minor repairs to the damages.

Final Thoughts

There is no way to know how fast or slow it will take for insurance companies to pay a claim. Every claim is different, which means the time it takes to process each one is different as well. It can be frustrating to know that you will have to wait for a long period of time before your claim gets approved.

If you feel that your claim isn’t making any progress, it is better to hire a professional and specialized lawyer to help you with your home insurance matters since they know more about the ins and outs of homeowners policies and the law in your state. You can easily find a reputable lawyer that offers free consultations for your claim issues and they can also help you make the process faster and smoother so you can get the payout that you need.

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