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Many people rely on their insurance companies and policies to help them repair their homes and cars after a flood, fire, windstorm, hail storm, or other natural disasters. However, all too often North Carolina residents find themselves waiting days, weeks, months, and sometimes even years to resolve a claim.

Waiting for an insurance payment can be agonizing, so insurance companies have an obligation to process insurance claims in a timely fashion and must submit an explanation to an insured individual regarding an agreement to pay coverage. Likewise, if a person’s claim is denied, the insurance company should provide an explanation as to why they are denying an insurance claim within a reasonable amount of time.

If your insurance company has unnecessarily delayed processing your claim, you may be entitled to compensation for your damages. Reach out to an experienced attorney for help with getting started with a case stemming from a delayed insurance claim in Raleigh.

When are Insurance Companies Required to Investigate a Claim?

Insurance companies should investigate a claim within thirty days after an individual has submitted a claim. During this thirty-day window, an insurance company is expected to have an adjuster examine the property and assess the extent of the damage.

After an insurance company has received notice of a claim, they should review the claim and assess whether they should provide the insured individual compensation or if they will deny a claim. Under North Carolina General Statutes §58-63(11)(e), insurance companies have a reasonable amount of time to review a claim and make a determination.

Unfortunately, this can ultimately result in needless delays and prolong a property owner from making necessary repairs. Alternatively, insurance companies could try to use delay tactics to avoid taking action on a claim. For example, insurance companies would often claim that they did not receive notice of a claim, or they may try to investigate every aspect of a claim unless they find some reason to reject it.

Delayed Payment

Once a decision has been made to pay a claim, the payment must be mailed or delivered within ten days. When an insurance company delays issuing payment, this may constitute unfair claim settlement practices and entitle an individual to damages above and beyond the cost to repair their property, as per N.C.G.S. §58-63-15.(11)(f).

A delayed payment can have a profound impact on an individual and their family. Delayed payments for a Raleigh insurance claim may mean that a person is unable to repair their home, or may mean that they incur additional living expenses.

Get in Touch with a Raleigh Attorney Regarding Delayed Insurance Claims

If you have been impacted by a delayed insurance claim in Raleigh, a dedicated insurance lawyer could help expedite your claim and put pressure on insurance companies to quickly pay under an insurance policy. Once hired, your attorney could meet with you to go over the facts and circumstances of your claim and help you obtain prompt payment or a settlement with your insurance provider.