Loss Assessors Advice

How long does it take to settle an insurance claim?

Some insurance claims could take months or even years to finally settle. Often claims on commercial buildings or vehicles and very complex and full of loopholes and red tape. Domestic claims are relatively straightforward but often pitch someone with no experience of making a claim against an insurance company, with experience of denying claims.

The rule of thumb with an insurance claim is to move relatively quickly, however the length of time between incident and picking up the phone will depend upon the nature of the claim.

Small claims like vehicle damage or theft should be reported and taken care of straight away. The same applies to medical claims, although you can expect to wait sometimes up to a month to receive your settlement. Life insurance claims should also be handled relatively quickly, usually within a month.

Home insurance and business insurance claims are often a little more complex. With a business, you will most probably have business interruption cover and premises cover. If both covers are with the same agent they should be able to move relatively quickly, otherwise a settlement could take longer.

In order to speed up the process you can take pictures and document the damage yourself, this will help especially if your insurance company’s loss adjuster is not able to come out to your site for a few days.

To help extradite things with your claim, you need to stay on top of it. You should know at ever stage of the claim what has been done and what is still to be done. You will need to speak to them weekly and sometimes even daily and check that they are moving on your claim.

If you are concerned that your claim is large and complex, then it might be worth speaking to an insurance loss assessor, who will assess your claim and deal directly with your insurance company.

How a Loss Assessor Can Help

If you were in any doubt about the work of a loss assessor then the case study below will give you some good insight into the work done on your behalf by a loss assessor.

Domestic Loss Assessor Insurance Claim Case Study >>

A loss assessor is often from an insurance loss adjuster back ground, and will therefore be able to deal with your insurance company and settling the claim better than anyone with little or no experience of the intricacies of insurance claims.

A loss assessor will give you professional advice on the best way to handle your claim, so if you want to speak to someone about your claim, then contact our loss assessors today.