How Long Does an Insurance Company Have to Settle a Hurricane Claim in Florida?
When your home is damaged by a hurricane, the sooner you can get a payout from your insurance provider, the better. But if you’ve lived along the Gulf Coast for long, you know that insurance companies like to find ways to delay settlements and many may deny your claim outright. This is why Florida has clear timelines that insurance companies must follow. Here’s what your Florida hurricane insurance claims attorney wants you to know.
The Timeframe Insurance Companies Must Follow
Under Florida law, insurance companies must adhere to certain deadlines anytime a policyholder files a claim. These deadlines depend on the stage of your claim.
Insurance Providers Have 14 Days to Acknowledge the Claim
Once you file your claim with your insurance provider, they have 14 days to acknowledge receipt of the claim. This is true even if others in your area are dealing with catastrophic damage and the insurance provider is trying to process hundreds if not thousands of other homeowners’ claims at the same time. This rule is in place to ensure that insurance companies don’t ignore claims for months on end, even when they’re swamped.
They Must Reach a Decision Within 90 Days
After a hurricane, any delay in payments and repairs can leave you feeling like you’re just treading water. That’s why the state requires insurance providers to reach a decision about your claim in no more than 90 days.
During that 90-day timeframe, the insurance company will review your claim and determine if the damage your home or property experienced is covered by your policy. If it is, they’ll consider the extent of the damage and the coverage limits your policy has before making their determination and providing you with a payout amount.
If the insurance provider denies your claim, they must send you a written explanation of why your claim was denied. You can use this information to appeal the decision but keep in mind that you may want to work with a Florida hurricane insurance claims attorney if you need to appeal. Your attorney will be able to represent your interests with your insurance provider and may be able to increase your chances of receiving a fair settlement offer.
Insurance Providers Must Send Payments Within 20 Days of Approval
If your claim is approved, insurance providers must send payments within 20 days of issuing the approval of the claim. The goal of this timeframe is to ensure that homeowners get the financial help they need in a timely manner so they can start getting their lives back on track. Most insurance providers working with homeowners in Florida are aware of this deadline and will do everything they can to send payments on time.
What Happens if the Insurance Company Doesn’t Follow the Timeline
The claims timeline is something all insurance providers are required to follow. If your provider doesn’t, you’ll want to speak with a Florida hurricane insurance claims attorney as soon as possible. They’ll be able to speak with the insurance company and get you the information you need quickly.
If the insurance company is ignoring their deadlines, you may be able to sue the provider. Your attorney will be able to guide you through the best next steps based on the details of your case and your situation.
Speak With Parrish Law Today
If your home has been damaged in a hurricane, filing an insurance claim with your homeowners’ insurance provider should be your first move. But if you find that the insurance company is dragging its feet or is otherwise unwilling to acknowledge your claim, taking action immediately is essential to your success. The team at Parrish Law is here to help. Contact us today to schedule a free consultation.