How Quickly Must an Insurance company pay a claim?

Are you seeking for compensation after an accident? Dealing with the insurance company can cause you a lot of stress and frustration. In fact, many businesses’ priority is to keep their statistics stable, rather than to pay the claim.

Check the infographics below, and see the law of safety and responsibility for not wearing seat belts.

Whenever you feel like the company is acting in bad faith, refusing to pay what you deserve, you should contact Las Vegas Injury Lawyer and discuss the ways of getting the compensation that can fully cover your recovery process and more. If the insurance company delay payouts, you better take action. The first thing you should start with is getting through your insurance contract step by step and fight for your rights. The first question is – how quickly must an insurance company pay a claim?

Most places protect consumers by requesting insurers to handle the claims immediately. Many states demand a specific period of time, which is mostly 30 days. Withing the given month, the insurance company investigates the case of the injured victim, establishes and determines compensation.

Whenever an insurance company fails to pay a claim on time due to bad faith, as an injured person, you can demand an extra 50 percent more than the amount of the compensation to cover additional damages. It can’t be higher than $5,000.

It’s essential for you as an injured person to understand the insurance claim payment process. In most cases, the company needs to inspect the whole accident situation, so the first check you’re going to receive is an advance of the total amount of money you will receive as a final payment.

Summing up, whenever you make a claim, make sure you know what you’re entitled to. If your insurance company does not cooperate, a lawsuit can cause them penalties and provide you with bigger compensation.

Follow:

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.