How long can the insurance company wait to settle my home owner's insurance claim?
Question Details:
I had a house fire and hired a public adjuster because the insurance company's adjuster was a nightmare to deal with. I talked with my adjuster today and he said that it's going before a judge now because they can't settle on a mediator. They want to deny my claim because they (the insurance company) is claiming that what I'm asking for is inflated, I didn't submit proofs of loss in time, and I intentionally misrepresented material facts, when they inventoried everything (the insurance company). In short I think the insurance company is mad because I didn't use their recommended restoration company.
Whatever the basis for their reasoning what remains true is that they intend on fighting your claim and denying or reducing payment to you. So what you need to do is hire an attorney to review your insurance policy and the documents associated with this matter as soon as you can. They can use the legal process to delay payment as long as what they are contesting is valid so one can not say how long they can wait to settle. It is good that the insurance company inventoried the contents themselves. What will probably happen is a lot of negotiating and an attorney can help you with that as well. Good luck.
