how long does it take before a claim is settled

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PostPosted: Wed Feb 17, 2010 1:55 am   Post subject: how long does it take before a claim is settled  

alot of equipment was stolen from my business i can t operate without these items i ve filed a claim sent a police report proof of purchase everything my ins co has ask for this going on 2 months now typically how long does it take to settle a claim

charlie_bari
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PostPosted: Wed Feb 17, 2010 2:25 am   Post subject:   

Depends. Circumstances of the loss, items stolen, location etc. I have claim for stolen items that is about to turn into 4 months here pretty soon. Much of what is stolen is high end resturant/kitchen equipment stolen from a trade show. Have you been getting updates from your adjuster.

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PostPosted: Wed Feb 17, 2010 2:32 am   Post subject: updates  

just request for more paperwork like equipment list age of equipment cost of new items 2 weeks ago the investigator said he was almost ready to give everything to accounting dept to determine amount of payment

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PostPosted: Wed Feb 17, 2010 2:50 am   Post subject:   

Quote:
just request for more paperwork like equipment list age of equipment cost of new items




Unfortunately that happens. It may seem that it's becoming redundant (it maybe) but catagorizing an inventory of items down to serial number, manufactures etc. can be nerve racking for you and the adjuster. Have asked what the hold up is?
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PostPosted: Wed Feb 17, 2010 2:57 am   Post subject: paperwork  

no i haven t ask everyone has been really nice and like you said its alot of work for both sides i didn t want to come across as pushy or in a hurry i know these guys have alot of claims to process but i m quickly running out of money since i m unable to generate any income since this happen its driving me crazy as i have to watch every penny i spend now because i m getting low on pennies

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PostPosted: Wed Feb 17, 2010 3:01 am   Post subject:   

I am not sure how this works, but one of these vendors has something in his policy that allows him to rent equipment until he is paid for the claim.

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PostPosted: Wed Feb 17, 2010 6:55 am   Post subject:   

Hi charlie,



While there is no particular time frame within which your insurer could promise to settle your claim, you may simply try to expedite the process by being in touch. Yes, keep in mind not to be pushy since these guys have hundreds of claims to handle at the same time. Simply stay in touch to indirectly remind them of your claim.



Adjusters may not be able hurry things up with the company attorney, however, they might just be able to manage the claims process more efficiently to initiate the next level.



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PostPosted: Mon Feb 22, 2010 6:39 pm   Post subject: claim settlement  

they want me to meet with their attorney to give a sworn statement is this a normal part of processing a claim this is all new to me and i lost and devastated no income and stress is killing me sorry my spelling is bad i m so nervous and stressed out i m going crazy


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