How long does it take for homeowners insurance to pay a claim?

When it comes to the amount of time it takes for your home insurance company to pay out a homeowners insurance claim can differ from state to state. For example in California most homeowners insurance companies are required to send out payment within 40 days from proof of the claim. Although, in Kansas there isn’t a set rule as to when the home insurance company is required to make the payment.

Texas was rules in place that require the home insurance company to send out a check within 5 days after accepting a claim. Where as Florida has rules in place that request the home insurance company send out payment within 90 days of accepting the claim. 

As you can see, each state has their own rules and regulations. It’s always best to check with a local agent so you know what you can expect for your home state. If you’re in California and need help getting a new home insurance policy, my top suggestion will always be Eugene C Yates Insurance Agency. Not only are the agents there incredibly nice people but they know pretty much everything when it comes to homeowners insurance. They make getting home insurance fast, easy and affordable! They can be reached at 916 313 6100.

In addition to the different state rules and regulations, each home insurance company may have their own individual rules when it comes claims. Again this is a question best suited for the home insurance agent helping you with your policy. 

Typically how long does it take to receive the home insurance claim payment?

We now know state to state rules and regulations may differ. As well as from home insurance company to home insurance company. Generally we should expect it to be anywhere from just a couple of days all the way to a few months to receive a check. 

There are other factors that may come into play like the type of damage to the home. Some damages and repairs are pretty straight forward, where as some a little more complicated. Something as simple as a garage being destroyed by a covered peril may be treated different than a liability issue where someone was hurt on your property. 

How fast you respond to questions and gathering the proper information can also play a part in how fast a check is issued. If you’re able to provide the insurance company with all the necessary information in a timely manner, they should be able to investigate your claim slightly faster then if you were to drag your feet and provide the information a week later. Which brings us to the point of having all the documents required for the claim readily available.

Is there a way to speed up the process?

Some home insurance companies pay claims faster than others. There really isn’t anything you can do about that. Except maybe inquire with your agent before purchasing a new policy. It’s always a good idea to shop multiple home insurance policies so you know you’re getting the best home insurance policy for your money. This is an important step that the agents at Eugene C Yates Insurance Agency take. They have access to some of the best insurance companies in the home insurance industry. This allows them to shop your situation with the biggest names in the business. 

Others things to look out for to possibly improve the speed of when you receive your home insurance claim are as follows;

• How fast are you able to gather all the necessary documents to file your claim.

• The amount of time it takes you to contact your home insurance company and file the claim.

• The extent of the damage and type of damage or loss.

• Your responsiveness to questions regarding your claim.

• The overall cost of the damage

The best way to put yourself in a good position to get your claim approved and issued as soon as possible is to make sure you have as much information and documentation available. This should limit the amount of back and forth between you and your insurance company in terms of having all your ducks in a row. 

The following three easy steps can help you possibly expedite the process and make things easier for you and the insurance company.

Step 1. Be in constant communication with the insurance company

The homeowners insurance company should be able to contact you easily if they have questions regarding your claim. You’re going to want to make sure you’re available for these conversations. Making sure your insurance company has the best number to contact you will be very important. 

You may also be assigned to a claims adjuster who may need to contact you. Usually they are the ones that do your inspection to review the damages or loss. This can sometimes be through smart devices or in person. You’re going to want to do your best to stay in contact with them as well. 

Step 2. Monitor all express payments associated with your home insurance claim

You’re going to want to keep track of everything relevant to your claim. Payments and documentation can come in at all hours of the day. Some of this information may be used to process certain aspects of the claim. Save your receipts, and document everything you believe will be valuable to the home insurance company. Making their job easier can sometimes help the process. You may have a home inventory that they will find useful, and this may come in handy when they are reviewing the claim. 

Step 3. Enroll in an e-payment alternative 

As technology progresses insurance companies do their best to stay on the cutting edge of it. If your home insurance company offers an e-payment option you may want to look into it. This is usually a faster way to receive a claim payout versus receiving a check in the mail. If you’re unsure if your homeowners insurance company offers this, please get in contact with a agent. They should be able to walk you through the process. 

Hopefully this article gives you a good starting point. If you have additional questions and live in California, please reach out to one of our wonderful agents. Not only are they very nice people, but they are incredibly knowledgeable when it comes to homeowners insurance! Call us today at 916 313 6100