How long does it take to process an insurance claim?

Processing an insurance claim in Tennessee typically takes 30 days. This time frame begins when the policyholder notifies the insurance company about the claim and is counted for the day the company receives the claim. In some cases, the process may take longer depending on factors such as investigation time, gathering and analyzing information, or additional paperwork. To expedite the process, policyholders should provide all necessary information, such as photos, police reports, witness statements, and repair estimates. Additionally, claimants should make sure to keep in contact with the insurance company at regular intervals, either through phone or email. This will ensure that the company is kept updated on the claim and that all documentation is submitted in a timely manner. The insurance company is required by law to make a settlement determination within 45 days of the initial claim. If the claimant does not accept the settlement, the insurance company has 15 days to pay the agreed-upon amount. If the amount is not paid within that time frame, the insurer could face fines. It is important to note that insurance companies are obligated to provide policyholders with an explanation for their decision to deny the claim or reduce the payment. Additionally, it is a violation of Tennessee state law to deny a claim without proper documentation or investigation.

Related FAQs

What is a limitation of coverage?
What documents do I need to submit with an insurance claim?
What are the common causes of action in an insurance claim?
What is an uninsured motorist coverage?
What is an extracontractual claim?
What is an assignment of benefits?
What is an insurance claim?
What is the statute of limitations for filing an insurance claim?
What is an Uninsured Motorists Coverage (UMC)?
What is a general liability insurance policy?

How long does it take to process an insurance claim?

Related FAQs

Related Blog Posts