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 Posted: Tue Oct 11, 2011 12:59 am Post subject: insurance payout deadline |
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After an insurance company has completed their investgation for an auto accident personal injury, how long do they have to pay out for injuries? In other words, I have not closed the case on my injuries and waiting for a settlment agreement. Is there a time limit in the state of Missouri?
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victorywroyc@yahoo.com
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| Posted: Tue Oct 11, 2011 3:56 am Post subject: |
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| Usually an insurance company should give a response to a demand within 30 days. They are not obligated to just offer payment though. Not without a demand. |
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tcope
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| Posted: Tue Oct 11, 2011 4:16 am Post subject: |
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The general statute of limitation for personal injury in Missouri is five years, but that does not mean your claims will be settled in five years time. It's the time period within which you've to file a claim.
The time to settle the claim can be drastically short depending on your case.
As far as I know, until you choose to settle for the amount offered by the insurance company and sign the release, it won't make any payment.
You may wait to recover before settling the claim, in order to collect maximum medical reimbursement. |
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Monawayne
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