How Long Does It Take For Homeowners Insurance To Pay?

  1. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    Most insurers realize that a homeowner’s policy loss is very distressing.  Many companies will start immediately providing a place to live under the policy provisions, and then as repair costs are determined, contracts let and progress is made, they provide progressive payments.  In some cases the payments are limited to the actual cash value of the item damaged.  If there is replacement cost coverage, the amount will be adjusted after the customer purchases the replacement item(s.)  These are extremely complicated adjustments.
    Answered on April 21, 2014
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