How Long Does It Take For Home Insurance To Pay Out?

  1. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    Claims adjusting is an important part of insurance.  The adjuster is charged to assess the total damage and make the appropriate payment.  The “adjusted” damages are subject to negotiations.  If, as a customer, you feel that the amount offered is inadequate you can feel free to discuss that with the adjuster or your agent.  The length of the process is determined primarily by the speed with which the damage can be assessed and a payment settled.
    Answered on July 8, 2014
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  2. 1844 POINTS
    David W. Clausen
    Chief Executive Officer, Coastal Homeowners Insurance Solutions, Rocky Point, NY 11778
    Thats a good question. The answer is it varies from company to company and claim to claim. For example, if you have a major house fire-what we call a "total loss" it could take months and months to complete the claim. During a major claim an inventory list of Personal Property needs to be constructed along with hours of redesigning, engineering and demolition work. If the claim is a simple theft claim-like someone stole your ipad-that can be handled quickly with a police report and a signature. Having said all of this, certain insurance companies, like PURE Insurance, are very quick to handle claims and disperse payments. They also typically insure larger homes and pay higher premium than a standard insurer. Hope this answer helps.
    Answered on November 5, 2015
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