Insurance companies are always receiving claims for auto accidents that are both minor and severe as it is estimated that 19,936 occur in a single day nationwide out of the year, according to the most recent data released from the National Highway Traffic Safety Administration. Although most insurance companies claim they will get your claim filed, processed, and finalized in a timely manner so you aren’t stuck waiting for payment for your property damage and/ or injuries, certain types of claims may take longer than others. But how much time are insurers permitted before they must make a decision on your claim? And if they determine that you do, in fact, have adequate coverage and that it is compensable, what is their timeframe for providing you with a check?
These are two of the most common questions car accident victims often have aside from how they can recover more if the incident left them severely injured which is why we are taking the time to address them below for you.
According to La. R.S. 22:1892A, after an insurer has received “satisfactory proof of loss from the insured or any party of interest” they are required to pay the “uncontested” amount for a covered loss within 30 days being provided with the proof. However, La. R.S. 22:1973B(5) states that an insurance company is required to “pay the amount of any claim due to any person insured by the contract within 60 days after receipt of satisfactory proof of loss from the claimant.” Now, there may be circumstances that prevent an insurer from meeting these deadlines, however, they are generally required to abide by them and can be held accountable when they fail to follow these laws.
Now, when an insurer has agreed to a settlement, they must pay the amount stipulated in the agreement within 30 days after it has been put into writing. This applies to settlements provided for policyholders as well as third-party claimants. A third-party claimant would be someone who is seeking coverage for an accident from someone else’s insurance company, not their own [Source: La. R.S. 22:1973B(2)].
What if my insurer has denied my claim or hasn’t paid it within the timeframe stipulated above?
Unfortunately, this happens often which is why Louisiana car crash victims are always encouraged to hire a car accident lawyer in Alexandria, LA. The truth is, car insurance companies will find their own reasons to deny an accident victim’s claim, whether they are the policyholder or another driver who was involved in the wreck. And if you aren’t careful and don’t understand what your policy covers or what your rights are in the matter, you risk having to accept the denial notice and pay for your accrued expenses out of your own pocket.
With that said, if you recently received a denial notice or are finding that the insurer responsible for paying your claim isn’t providing you with a check for the damage and/or medical bills, then now would be a good time to contact Alexandria, LA car accident lawyer Davey Jones. The Jones Law Firm has been open and representing accident victims just like you since 2009, helping injured individuals address their issues and recover the compensation they not only need, but also deserve.
To schedule a time for an initial consultation so that your incident can be discussed in depth with attorney Davey Jones, contact our office today by calling 318-442-1515. In the event the crash has left you immobile or hospitalized, don’t worry about traveling to our office as we will be more than happy to come to you. Contact us today to learn more.