If you sustain injuries and other damages in a car accident in New York, you may become unable to work. However, you will still have to pay for your everyday living expenses and, more likely than not, medical bills and car repairs.
You filed a claim with your car insurance company to recover the full cost of damages and to help you until you can get back on your feet. However, now the question is, how long must you wait before your insurer settles your claim? The good news is, not too long.
The insurance claim timeline in New York
According to WalletHub, New York insurers have 35 days to settle a claim. The clock starts ticking on the date of receipt of the claim and includes time to acknowledge the claim, time to make a decision and time to send out the final payment. The specific deadlines your insurer must meet are as follows:
- 15 business days to acknowledge your claim and send you the paperwork and instructions necessary to ensure its success; paperwork includes proof-of-loss forms on which you must detail the full scope of your injuries and damages
- 15 business days to review your proof of loss forms and come to a decision regarding your claim
- Five business days to pay you, given the insurer approves your claim
Though insurers must use this timeline as a guideline when dealing with claims, your claim may not settle within 35 days.
Certain factors may elongate your claim settlement timeline
If your accident resulted in substantial damages and serious or multiple injuries, your claim may not settle within 35 days. This is especially true if your injuries require extensive and ongoing medical care before you reach the point of maximum medical improvement or if your injuries have not yet had a chance to “mature.” Also, poor communication between you and the insurer may add to the time it takes your insurer to come to a decision and pay your claim.
That said, you are entitled to a quick and efficient settlement. If you think your insurer is purposely delaying the settlement of your claim, you may have a bad-faith lawsuit. An attorney can help you explore your options if this is the case.