Why it takes so long for insurance companies to pay

Leader Board

Leading Experts		Credits
1.	consultant	10676	Level 107
2.	Tim.lopez	6334	Level 64
3.	David.Jackma	6196	Level 62
4.	James.lopez	5605	Level 57
5.	Shan	5185	Level 52
6.	Polar.net	4473	Level 45
7.	peterson991@	4228	Level 43
8.	TheLML	3621	Level 37
9.	bill.white	3611	Level 37
10.	CnC	3571	Level 36
11.	Swastik	3473	Level 35
12.	Denis.Brown	3291	Level 33
13.	ciitronian	3246	Level 33
14.	jason.bell	3136	Level 32
15.	xman2	3026	Level 31
16.	richa61416	2884	Level 29
17.	Bill.Gagnon	2867	Level 29
18.	Lussay	2836	Level 29
19.	Ask.Lee	2825	Level 29
20.	Michael	2772	Level 28
21.	david.007	2745	Level 28
22.	Tim.Gagnon	2742	Level 28
23.	xman	2738	Level 28
24.	xman1	2610	Level 27
25.	shaun.marsh	2527	Level 26

Answer

Report Abuse

Vote:

Asked by
Dwayne

Why it takes so long for insurance companies to pay? Thank you very much.

In Insurance Cont.02

Industry Experts

+ Add Expert

Jeena

Well insurance companies pay after their inspection and it takes long to complete that process and remember that there is not only you but so many other people on insurance..

Q. How long do car insurance companies take to pay out for a stolen written off car?
i had my car nicked about two weeks ago, i have sent the insurance company all the required docs and incident form. they found the car burnt out a day later. police were informated as soon as i realised car was gone. how long will the insurance companiy take to pay out?

They will have to complete their investigation before they consider paying out. How long the investigation takes depends on what has to be done. Since we don't know the details of your claim and have not spoken to your adjuster -- we can't tell you. However, since the car was found burned out - they will take a very close look at this claim.

Q. How long does it take for insurance companies to pay you after an accident?
the insurance just came and looked at my totaled 2000 ranger. they said they would call and offer us a price and they haven't yet. we have full coverage and there was only 149000 miles on the truck so how much should they give me and how long will it take for me to receive the money once they make an offer?

"Some companies (such as the one i work for..."

If they just came and looked, they will have to run a valuation on it. Once they complete that (about a day if they don't use an outside vendor), they will call you with an offer. If you accept, they will send you a packet in the mail detailing everything you need to do (send your title, keys, sign some papers, etc). Once they receive that, they will send you a check. All in all, about a week to 10 days. Some companies (such as the one I work for) are starting to 'fast track' total loss settlements, in which you can have a check on the way within a day. Call your total loss adjuster and ask for a timeline.

Q. On average how long does it take for insurance companies to pay out the insurance claim?
we had a housefire&lost two beautiful young cats in the housefire we rescue them from our kill shelter for my 21st birthday from my mum and stepdad both had been at the shelter for over a month. they didn't have long to live at the shelter, they only keep them for 36days. we got puzzle on 30thmay &got cameo on 31st of may. the fire happen on the 14th july 2007.it was caused by a here is cameo(mum named cameo) http://i138.photobucket.com/albums/q248/encouraging_angels/puzzle%20and%20cameo/dsc00122.jpg here is puzzle(i named her) http://s138.photobucket.com/albums/q248/encouraging_angels/puzzle%20and%20cameo/?action=view&current=dsc00119.jpg the shelter told us two tortishell wouldn't get along! lol i have to laugh at that because as soon as we got them home they clicked! they were best buddies! grooming, sharing the litter tray, playfights, chasing each other&sleeping together http://i138.photobucket.com/albums/q248/encouraging_angels/puzzle%20and%20cameo/dsc00123.jpg puzzle had a bad case of cat flu, so we had a old fan heater on in the laundry as it got very very cold and we didn't want her to get any sicker&cat can die from cat flu if not treated early enough! we had safety switches, but when our house was built-it was not neccessary to put safety switches in the laundry. the fan heater faulted and caused the fire. we do not know whether there were safety switches installed or not. we had smoke alarm. only 1 of the 2 worked. safety switches do not work for all electrical faults-the fire brigade told us that. we loved our cats so much.rest in peace sweethearts aka puzzle(18month)&cameo (2yrs).

"Because you need the fire marshall report...."

A week, but fires usually take three weeks, because you need the fire marshall report.

Q. How long do insurance company take to pay your claims?
my pregnant wife and i had an accident last september. the police came and we had a witness and declared the teenager who ran into us the one at fault. this is our first car accident and it's almost eight months since the accident happened. we still receive statements from our emergency hospital bills... the claims adjuster never return our calls and we have faxed all our bills to them. our car was wreaked and we even paid $1000 for our deductible and got only $300 back. do they usually take this long? does anyone have any advice?

"Not just bad insurance companies..."

That is too long. However, you may want to check to make sure they in fact didn't pay...it is not unheard of for Hospitals to try to double bill...we've received bills from an ER for years following confirmation that our insurance provider had actually already paid the bill. There's a lot of fraud and schemes out there, not just bad insurance companies! If you learn the bill has never been paid, then you may need to threaten them with possible legal action...but put all that in writing and don't have these conversations verbally, so there's a record...email is deemed legally binding in courts, so if you have the opportunity, communicate that way (it provides date and time data for sent/received and transparency, in addition to protection from lies later.) Lastly, you may need to check the back of the check you did receive...sometimes less than reputable companies try to include a release on the endorsement section of the back of payments, once endorsed and cashed, this means you've released them from further liability (it's sick, I know, but those bastards do it.) If that is the case, you'll need to retain an attorney to protect your rights because you do have a contract with them for coverage, so it can become something all together new for which it might be wise to protect your interests.

Q. Why do insurance companies take so long to pay out.?
got knocked off my m/cycle over a year ago. police were in attendance but did not press any charges against other driver. (he turned into me with no indication at all) issue still not resolved, yet when my premium is due they want it there and then.

this is a pain, they are straight on to us if our dd is late

Q. How long does it take for your insurance company to pay pip benefits?
i live in florida. my attorneys completed the paperwork for me to recieve my lost wages. just curious on how long it normally takes.

"Fault there may be coverage from there insurance but getting money from your company..."

Pip is for medical payment not lost wages. Your uninsured and underisured will pay for lost wages. I would talk with your insurance provider. If there is an attorney involved this may delay the payment and actually cost you more depending on the cause of lose. IF the other party is 100% at fault there may be coverage from there insurance but getting money from your company would come once the claim is settled. Good Luck

Q. How long does it take insurance company to pay settlement?
2 weeks ago i signed a release form, releasing the other persons insurance from any future claims and also agreeing to settle for an amount we agreed upon, but i have yet to receive the settlement check.

Usually within 2 weeks of the company receiving a death certificate.

Q. How long can insurance an insurance company take to pay a bill to the doctor?
my mother died in march 2009. in march 2010 i received a bill from the hospital from december of 2008 for the amount that medicare did not cover. i had called the hospital several times for a final bill and thought they were all paid. am i liable for the bill?

"If it's a hospital bill or a credit card bill..."

NO you are NOT liable neither is her estate. Those other answers are wrong. Regardless, if it's a hospital bill or a credit card bill, once someone passes away, their bill is gone. the only exception is with a married couple. Do not give them your SS#, phone number or address, they will harass you for the balance you don't have to pay. They cannot make you pay for services you never received. Just write on the bill Deceased and send it back.

Q. Can you sue a car insurance company for taking too long to pay medical bills?
say a person is a passenger in a car accident and the other driver was at fault. the other driver's car insurance agrees to pay for medical bills, but doesn't offer much else. the passenger gets a lawyer. while the passenger is waiting for their case to be handled, the ambulance company is hounding them for money that the passenger doesn't have. the passenger is worried that this will ruin their credit. the company won't put a lien on the case for their money; they want it now. what can the passenger do? can they sue the auto insurance company for not paying the bill and causing them to get bad credit? can the insurance company pay the bill now, and settle for on other damages later?

"You can sue the insurance company (anyone can sue anyone in the us..."

Are you sending the medical bills to your attorney or to the company? If you are sending them to the company and they agreed to pay, the payment should be made within 30 days. Did you exhaust the medical payments coverage on the policy? If so, they will no longer pay your medicals. If you sent the medical bills to your attorney, he probably has not yet forwarded them to the company for payment. Call him & find out why & tell him that the providers are hounding you for payment and you want them forwarded to the company for payment TODAY. You can sue the insurance company (anyone can sue anyone in the US) if you want but nothing will happen if they do not have the medical bills or if the medical coverage is exhausted.

Q. How long will my car insurance company take to pay out and how much will i get?
on saturday my car caught fire while i was driving it (apparently the fuel line came out). it's a peugeot 206 1999 and has done 87,000 miles. it wasn't in bad condition either. it's blatently a write-off, the engine looks like one big bit of plastic. my question basically is 1) how long do insurance companies usually take to pay out on this kind of thing, and 2) what will i get? i've looked on parkers and stuff, but you have to pay to find out... so i thought i'd see if any of you lovely people know first! :) just to clarify, i was in the car and driving it at the time when it caught fire... so i don't think they'll be any problems with fraud!

"Get investigated by special investigative units in insurance companies..."

It may take a while. Thefts and burned out cars usually get investigated by Special Investigative Units in insurance companies . There is a lot of fraud and that is why they get investigated. You can ask them to provide you with a rental car while they are investigating the claim. After everything checks out o.k. they will pay you the value of the car. Check the Kelly Blue Book value on it. Even though they do not only use that value anymore either. But you can get a rough idea there.

Add your answer in just seconds. No signup necessary.
Just put your answer in the box below and hit Save.

Can you help us by answering one of these related questions?

We need your help! Please help us improve our content by removing questions that are essentially the same and merging them into this question. Please tell us which questions below are the same as this one:

Q: Why it takes so long for insurance companies to pay?

The following questions have been merged into this one. If you feel any of these questions have been included in error help us improve our content by splitting these questions into seperate discussions. Please unmerge any questions that are not the same as this one:

Q: Why it takes so long for insurance companies to pay?

What do insurance inspections look for?
How soon do insurance companies pay for fire?
What do ins companies do after a fire claim?
What happens after a fire claim?
How long does it take for insurance companies to pay out?
How log does it take for insurance companies to pay for my home insurance?
Do insurance companies by out your home if it burns?
What do insurance companies pay out on?
How will my home insurance pay out?

Categories