The average time taken to settle a home insurance claim in the US is 30 days. However, when it is about property insurance, hardly anything is average. The actual time it takes for insurance companies to settle the claims differs based on a number of factors.
On top of that there is no federal law that mandates the insurance providers to settle the claims within a set period of time. That all adds up to a long waiting period for homeowners with damaged property.
Why do insurance claims take so long?
It is not like that the insurance companies don't want to pay you in time. There are certain things involved in processing the claim. Plus, insurance companies, like any other companies, function based on certain SOPs.
Other factors that affect the time taken to process an insurance claim include:
- The nature of claim is a major factor. Smaller claims with lower monetary value are processed faster.
- The state where the claim is being pursued.
- The number of cases under process at the insurance company.
- The terms and conditions of the insurance policy.
- Whether you are pursuing the case on your own or with the help of an attorney.
However, there are ways for making the property insurance claim procedure faster. You'll need the services of a public adjuster for that.
How to Get Property Insurance Claim Fast
In order to get a property insurance claim processed faster, you need three things:
- A thorough understanding of the legal and engineering terms in your insurance policy.
- An accurate estimate and proof of the damages done to your property.
- Someone who can follow up your case with the insurer and bargain and negotiate to get you the best possible compensation.
Public Adjuster - The Best Friend of a Homeowner
You can get all three of those things in a public adjuster. These guys work independently of the insurance providers. They provide all the services required to process insurance claims. It starts with the review of your insurance policy and they remain by your side until you get the insurance claim check.
They cannot only dramatically decrease the time it takes for a claim to be processed but also makes it possible for you to get as much as 700% more compensation as you would get on your own.
All those services must come at a steep price upfront, right? Wrong!
All that comes at a rather affordable price. You don't have to pay them anything upfront. They usually charge a contingency fee (a percentage of the final adjustment you get from the insurer). That too is charged after you get the insurance money.
Most of the states limit the percentage they can charge and also bans them from charging any money before you get the compensation.
ACI Adjustment Group Services
ACI Adjustment group provides assistance with insurance claim investigation in storm, fire, water damage, and all other common insurance claims. The services we provide include:- Insurance policy review to help you understand the terms and conditions of your insurance policy.
- Evaluating damages that are covered under your insurance policy.
- Proving the damages done to your property so that you get claim money according to the damage.
- Following up with your insurance claim process to get it processed fast.