For most Florida insurance claims, insurers must make a decision within a 90-day period. You should receive notice that your claim was approved or denied within this time frame, and if you don't receive it, you should contact a Florida lawyer who specializes in insurance disputes. Florida insurance companies have 90 days to resolve a claim after it has been officially filed. Florida insurance companies also have specific time frames in which they must recognize the claim and then decide whether to accept it or not, before paying the final settlement.
Florida law regulates the schedule for verifying agreements in Florida. Once you have accepted a written agreement, the insurance company must make the payment within 20 days, unless both parties agree on a different date. Insurance adjusters can state that payment is conditional on the signing of an exemption from all claims. Insurance companies must generally initiate the last adjustment of a hurricane damage claim 14 days after the claimant notifies them of the loss.
However, insurance policies often have complex legal details that you may not be aware of. For example, for some insurance policies, the 14-day period may not apply if there wasn't a “catastrophic loss.”. Florida statute 627,4265 states that an insurance company must pay within 20 days after it has agreed to reach an agreement with the other party. However, if they don't pay before the due date, they must pay 12 percent annual interest to the claimant.
Car accident settlements are often worth large amounts of money, meaning that an annual interest of 12 percent can increase rapidly if the insurance company doesn't pay on time. Because Florida is a no-fault state, if you're involved in a car accident, you'll have to file a claim against your insurance provider. Dealing with an insurance company is often frustrating, especially when the insurance provider fails to meet its obligations. You may have a bad faith claim if the insurance company doesn't follow the proper procedures to accept or deny a car accident claim within the specified time period.
There are also many other factors at play that could affect how long it will take for your car accident claim to be resolved in the state of Florida, so it's important to be patient and trust your car accident lawyer to do the job. In the event that you are dealing with the bad faith of an insurance company, you can file a bad faith claim and you will also have the option of taking the case to court so that the insurance company will pay you the higher settlement and cover all your costs. It is considered illegal for an insurance company to fail to accept or deny an auto accident claim within a reasonable period of time after the claim is filed, under Florida Statute 634,336. In addition, poor communication between the driver, the insurance company, and the insurance adjuster can delay the process. Insurance companies will also use appraisers and accident reconstruction experts to determine fault in car accidents.
Bodily injury claims are the ones that take the longest to resolve because there are several parties involved, such as your doctor, car insurance company, and your health insurance provider. However, what are your options if the insurance company doesn't meet the payment deadline? Also, what can you do if the insurance company doesn't deny or accept your claim within a reasonable time or in less than 30 days?. Because the exact amount of time the insurance appraiser has to start your case can vary widely, it's important that an attorney handle your case to ensure that the insurance company is accountable to the law. The fact that Florida is a no-fault state when it comes to auto insurance means that all Florida drivers must purchase personal injury protection (PIP) insurance to cover their own medical bills after an accident, regardless of who was at fault.
In the case of a general insurance claim, there is no fixed deadline by which an insurance provider must resolve a claim. When you file a claim after a car accident, the insurance company will assign an appraiser to your case. Every insurance company has a reasonable amount of time to accept or deny a car accident claim in the state of Florida. .