How long can an insurance company take to pay out on a stolen vehicle claim?

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How long can an insurance company take to pay out on a stolen vehicle claim?

I had a claim in for a stolen car with my auto insurer for over 3 months. Is there a certain time limit on a claim? They made my husband and I go in go for questioning. They needed paperwork and 911 records. Ii gave them everything. They said they have everything they needed and in a day or so I should have a  response. Now, 3 months later, they’ve called me requested yet 1 more record which I can’t give to them because I don’t have it. Can they prolong this that long? I’m renting a car out of my pocket and it’s killing me – I can’t afford it.

Asked on February 28, 2011 under Insurance Law, New Jersey

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 10 years ago | Contributor

What they are doing is investigating the claim.  They are entitled to do so although I would agree with you that it has been a bit long of a time.  I think that you should do the following.  Either hire an attorney to send them a letter demanding that they conclude the investigation and that you have cooperated fully and now it has been an unreasonable amount of time to conclude the investigation.  And possibly you should consider contacting the State Department of Insurance and file a complaint or at least find out where you can file a complaint.  They have to decide one way or another and they can not keep coming back to you for additional information that you do not have control over giving to them.  Good luck.


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