Serious injuries, big property damages, and other costly consequences from an accident in Sarasota could involve a big amount of money. Insurance companies may seem agreeable at first and would assure you that they are ready to settle the agreed amount, but you might learn later on that they are deliberately causing delays.
Even in the face of a personal injury lawsuit, payment for damages could be delayed as insurance providers or the at-fault party try to find loopholes in your claim. When this happens, here are some things you need to know.
• Time Given To Insurance Providers To Settle Claims – There are different timeframes that insurance providers must adhere to. First, they are given 14 days or two weeks to answer the claim after it was filed. You should expect to receive a message or a call about the claim within those two weeks.
Second, they are given up to 90 days to review and assess your claim after it has been acknowledged. You should receive a notice about whether your claim has been approved or denied within the 90 days. Upon approval, insurance providers are given 20 days to send the money. Once these time periods have lapsed and you received no updates, ask for help from your personal injury attorney who is also an expert with insurance policies.
• Reasons For The Delay – Insurance providers will try to find loopholes in your claim. There are also many cases when providers would try to point fingers at other insurance companies, claiming that the damages do not fit under their criteria.
This often happens when a big amount of money is involved. Another possible reason for the delay is that the damages exceed the coverage. Regardless, it is important to identify why your claim is being delayed so you and your lawyer could quickly address the problem.
What To Do When Your Claim Is Delayed?
• Present Your Records And Evidence – It is not surprising that your claim could be delayed for the wrong reasons. When this happens, you could present a record of events as evidence that your claim is being wrongfully withheld. You could show a timeline of the events, from the day you filed the claim and when it was approved.
• Demand For Answers – The insurance provider could not simply remain quiet and leave you with no explanation. Your lawyer could help you appeal for an answer from the insurance company or from the at-fault party who owns the coverage. It is important to demand the reason why your claim is being delayed so that it may be addressed immediately.
• Review The Insurance Coverage Terms – The delay itself could be a violation of your contract with the insurance provider, but there may also be hidden terms that could excuse them for the delay. Review the terms and let your lawyer read them too as it is possible to find loopholes in the contract, which could be grounds for a lawsuit.
Insurance claims are crucial when people get into an accident because these are the keys to helping them recover. While Florida has a Personal Injury Protection (PIP) insurance requirement, it does not completely cover other damages such as lost wages, lost items, and broken properties.