Is Your Insurance Company Stalling?
Was your property recently damaged? If so, you no doubt want to get your insurance claim resolved so that you can move on with your life. Unfortunately, all too often, the insurance claims process seems to drag on forever. This can be confusing and overwhelming for homeowners. Indeed, there are few things more frustrating than dealing with an insurance company that seems to be stalling for no reason.
Unnecessary insurance claim delay should not happen in Florida. Under the state’s insurance laws, companies have a legal duty to pay valid claims in full, without any undue delay. If they fail to live up to that duty, the stalling insurance company can be held liable for bad faith damages. Here, our Fort Lauderdale bad faith insurance claims attorneys explain some key parts of the claims process so that you can better assess whether or not your insurance claim is being handled with the appropriate speed.
Fourteen Days From Your Claim
Under Section 627.70131 of the Florida Insurance Code, insurers have certain obligations to communicate with the policyholder. Specifically, after a claim has been filed, the company has 14 calendar days to review and acknowledge their receipt of the claim. In other words, after 14 days, the insurance company is at the very least to let you know that they are working on the issue. If you have filed a claim, and have not received any acknowledgment from your insurance provider, you should speak to a qualified attorney. Note: there is an exception to this 14-day rule, which will be discussed below.
Ninety Days From Your Claim
Additionally, Florida law requires that insurers complete a thorough investigation of your claim within 90 days of the date on which it was filed. At this time, the insurance company should either agree to pay your claim in full, or alternatively, deny your claim. The bottom line: After 90 days have passed, the insurer should have made its decision to pay or deny the claim. However, once again, in certain cases there may be an exception to this time limit.
The Exception: Circumstances Beyond the Company’s Control
Florida exempts insurance companies from the time limit requirements if the lack of compliance occurs because of “factors beyond the control” of the insurance company. Of course, as a general rule, this would be fair. In some cases, there are good reasons why claims take longer to resolve. However, unfortunately, in far too many cases the big insurance companies try to take advantage of policyholders and delay claims simply as a negotiating tactic. This is not acceptable. If an insurance company has cited ‘external factors’ as the reason why your claim has been delayed, you should seek legal immediate legal assistance.
Do You Need Help With Your Insurance Claim?
We are here to help. At Geyer Fuxa Tyler, our property insurance attorneys have extensive experience handling Florida bad faith claims. You deserve a settlement that accounts the full extent of your covered losses, without undue delay. For a free review of your claim, please get in touch with our Sunrise office today. We serve property owners throughout Broward County, including in Fort Lauderdale, Hollywood, Pembroke Pines and Pompano Beach.