Historic levels of flooding in the Midwest this spring has led to billions of dollars in damages; small farms are considered the most highly affected since they have lost land, animals, and often stored crops as well. For those who have insurance, it may be some time before the level of damages can be properly assessed, which can draw out the process of claims being paid.
When areas experience disasters like this, insurance claims can start coming in quickly. This can mean delays in getting those claims processed, lengthening the time it takes to settle an insurance claim. At Claims Room, we focus on assessing single-family homes and commercial properties in the Midwest. Our assessments are often faster and less expensive than other companies, but when there is a significant amount of damage in a region at once, it can take some time to get everything sorted out.
Building owners can easily get frustrated at the time it takes to settle an insurance claim. As you go through the process, it's important to remember that there are several moving parts involved; your claim is almost never the only one the insurance company is handling at any given time. In the aftermath of a disaster, it's easy for companies - especially smaller ones - to get overwhelmed.
While you're waiting for claims to get processed, there are a few things to remember about why it takes more time to process insurance claims. Factors like the company itself, the type of claim, and the complexity of the claim can all affect the time involved. Whether or not you agree to the settlement itself can affect the claim process.
These factors influence how long it takes to settle an insurance claim.
Multiple People Involved
Once you make a claim and an adjuster examines the damages, the claim still has to be submitted to the insurance company, reviewed, and decisions must be made about whether or not damages were covered under your policy. You can help by having a clear understanding of your policy, being specific about how the damages are described, and making sure you’re available as soon as the adjuster is. At Claims Room, our assessment process is often less expensive and can be completed more quickly than other companies. This can help move the process along more quickly - though waiting on the insurance company itself is still necessary.
Clarity of Damages
Once the flood waters recede, people can begin to assess what damages have been done to their property. This is true outside of the massive flooding in the Midwest; you can't tell how much your basement has been damaged by a broken pipe until the water has been cleaned up.
In some cases, the damage is obvious, and assessing and filing the claim is a simple process. But in other cases, such as water damage, we need to consider any potential for mold growth, structural damage that isn't immediately visible, and other pipes that might have been damaged by the breakage. Documenting all of these different problems can take time and make a claim more complicated.
That doesn’t mean you shouldn’t file for every damage for which you believe you are entitled. But it does mean that you should have a realistic expectation for how long it may take for the claim to be settled. At Claims Room, we offer a wide range of services to help you get your claims settled as quickly as possible. We want you to get the fairest settlement we can. If you need help shortening the time to settle your insurance claim, contact us today.