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How long does it take insurance companies to pay

How long does it take for an insurance company to pay?

Well in Florida they have to pay or deny your claim within 90 days. That does not mean they will pay you fairly. I do not remember a time where their initial payment ever brought you back to pre-loss condition. This is why Public Adjusters exist. Call an Experienced Public Adjuster today for a free claim review! Do not wait for them to send a denial or partial denial as it becomes harder to get a prompt settlement without the use of an attorney and a lengthy litigation process. Call an Experienced Public Adjuster today! (407) 212-8669

627.70131 Insurer’s duty to acknowledge communications regarding claims; investigation.

(5)(a) Within 90 days after an insurer receives notice of an initial, reopened, or supplemental property insurance claim from a policyholder, the insurer shall pay or deny such claim or a portion of the claim unless the failure to pay is caused by factors beyond the control of the insurer which reasonably prevent such payment. Any payment of an initial or supplemental claim or portion of such claim made 90 days after the insurer receives notice of the claim, or made more than 15 days after there are no longer factors beyond the control of the insurer which reasonably prevented such payment, whichever is later, bears interest at the rate set forth in s. 55.03. Interest begins to accrue from the date the insurer receives notice of the claim. The provisions of this subsection may not be waived, voided, or nullified by the terms of the insurance policy. If there is a right to prejudgment interest, the insured shall select whether to receive prejudgment interest or interest under this subsection. Interest is payable when the claim or portion of the claim is paid. Failure to comply with this subsection constitutes a violation of this code. However, failure to comply with this subsection does not form the sole basis for a private cause of action.

http://www.leg.state.fl.us/statutes/index.cfm?App_mode=Display_Statute&URL=0600-0699/0627/Sections/0627.70131.html

Downtown Orlando Executive Office

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Experienced Public Adjusters-Daytona Beach

140 S Beach St Suite 310
Daytona Beach, FL 32114
Phone: (386) 777-2882

North Carolina Headquarters

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Orlando Public Adjuster Office

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