Insurance Claim Timeline: What to Expect and How to Prepare
As public adjusters, our team at Edwin-Claude is very familiar with the question, “How long does the insurance claims process take?” While we’d love to give our clients a simple response, the answer to that question isn’t always so cut and dry. In this article, we will explore the insurance claim timeline and discuss ways you can help expedite your claim.
The Standard Timeline
In an ideal world, the insurance claims process would proceed without any arguments on the scope of damages, no investigations of suspect foul play, and finish with a quick acceptance of a settlement offer. In this ideal situation, the claim would be concluded with payment in hand within 30-60 days. However, the claims process rarely goes this smoothly.
Simple Claims (30-45 Days)
For a relatively small claim with unsubstantial damage–such as a small water leak or a broken window–you should expect to spend less time waiting for your payout. These claims usually include:
● Easily photographable damages
● Simple and straightforward repair estimates
● No questions about whether or not the damages would be covered under your
policy
Moderate Claims (60-90 Days)
For slightly larger claims, you should expect the process to take a bit longer. These claims often include:
● Multiple different contractor estimates
● More than one round of documentation
● Negotiation with adjusters regarding the cost of repairs
For larger claims on homes with mortgages, you may be required to relinquish the settlement check for the structure to your lender. This isn’t to say that they will take your check and leave you high and dry, but rather the mortgage company still has a financial interest in the home. They may hold onto the funds and release portions of your settlement to you as repairs are made to the property. How this is handled depends entirely on your mortgage company, so it’s best to get the ball rolling early and contact your mortgage holder as soon as you can.
Large Scale Claims (90+ Days)
Large incidents that affect multiple rooms or the entirety of a home can take months to conclude. If you have a large disaster occur on your property, your claim may include:
● Getting an engineer report
● Multiple rounds of negotiations between adjusters
● Getting a large loss adjuster assigned to your claim
● Obtaining temporary housing while repairs are made
Other Factors that Extend Your Claim Timeline
Documentation Delays: This is the most common type of delay in the insurance claims process. The adjuster from your insurance company is likely handling multiple losses/claims at once and will only respond to your requests for information or make headway on your claim one day per week. They will also likely send a third-party estimator to the property to write a list of damages and send it to them, which will take additional time.
Scope of Damages Disagreements: When your home suffers a disaster like a fire, the damage typically goes far beyond what is immediately visible. Smoke may have permeated soft surfaces, walls may need to be painted and sealed, and electrical systems may be malfunctioning. The initial scope of damages as reported by your insurance company may not include everything that you need fixed or replaced.
High Claim Volume and Natural Disasters: When large-scale events like hurricanes and tornadoes damage many homes in an area, insurance companies will prioritize those policyholders. Your insurance claim may take a backseat role and take much longer to conclude in this case.
How a Public Adjuster Can Help Expedite Your Claim
At Edwin-Claude, we’re here to help you get the highest settlement in the least amount of time. Our team is ready to create a complete and accurate record of losses as well as a list of estimates for repairs, replacements, and cleaning of the property. We’ll also handle all communications with the insurance company and negotiate your settlement in a timely manner. Together, we can secure the settlement you deserve in a reasonable timeframe.
Find Out More For Free!
If you’re concerned about how your claim is being handled by your insurance company, don’t hesitate to give our team at Edwin-Claude a call at 314-993-2266 for a free consultation. Our team is ready to assess your situation, provide you with a plan of action, and work with you to get the settlement you rightly deserve. Reach out today to get started for free!
