How long should it take to get our contents insurance settlement? We lost our house in May to a fire.
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UPDATED: Aug 9, 2011
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Insurance Question from Evans, GA
Asked on 08/09/2011
How long should it take to get our contents insurance settlement? We lost our house in May to a fire. NULL
Answer given on August 10, 2011
There are state laws regarding claims settlements, including the process and time frame the settlement should be made. Some companies will make a partial payment to start and then wait fot the remaining paperwork to offer a final settlement.As a claimant, you do have responsibilities that must be met. The insurance company has the right to require a list of the destroyed or damaged property and estimated values. You should be working with the adjuster and they should outline what they need from you to work a settlement. Your insurance agent should also be able to assist you in working out what is needed to settle.If you cannot get resolution from the adjuster, ask to speak with a supervisor who may be able to help you speed up the settlement process or who can explain why the claim seems to be going slowly.
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