What Is The Law In Florida To Investigate A Claim Registered With The Insurance Company

Florida Insurance Claim Law

When you're injure in a machine accident in Florida, your bills tin can pile upwards rapidly. Y'all likely take medical bills, property harm, and lost work. You may have lost your way of transportation. Information technology isn't long before it can seem overwhelming. Fortunately, Florida'south no-fault insurance laws are at that place to protect you, and there's a adept gamble that there's an insurance policy that covers your losses.

You lot might wonder how long the insurance company has to settle a claim in Florida and whether yous will demand to work with a car accident lawyer to get the bounty you need. Here's what you should know well-nigh how long an insurance company has to settle a claim.

How Long Does the Insurance Company Have to Settle a Claim in Florida?

The exact answer to how quickly the insurance company has to settle a claim in Florida is that it depends on the blazon of the merits. Florida has laws that apply to all car accident insurance policies and laws that utilise specifically to personal injury protection PIP (no-fault) claims.

For a general insurance settlement, the insurer merely has to investigate and pay or deny the merits within a reasonable period of fourth dimension. For a PIP claim, the insurance company has 30 days to pay or deny the claim.

Related: Exercise's and Don'ts of Motorcar Accident Insurance Claims in Tampa, FL

General Insurance Claims

At that place'due south no difficult-and-fast rule for how long an insurance company has to settle a merits when it's non a PIP claim. Instead, the insurance visitor has a reasonable period of fourth dimension to assert or deny coverage. It's considered an unlawful, deceptive trade practice under Florida police force 634.336 for an insurance visitor to fail to accept or refuse a claim within a reasonable period of time after a claimant submits proof of loss. If the insurance company denies a claim, they must give a reason for the deprival. It's also a deceptive merchandise practice to misrepresent the facts, prevarication about the insurance coverage or to fail to communicate promptly during the claims procedure.

If the parties agree to a settlement, Florida law 627.4265 requires the insurance visitor to pay the claim inside 20 days. The parties may condition the payment on requiring the claimant to submit a release of their claims in substitution for payment. If the insurance visitor doesn't pay by the due date, they owe the claimant 12 percent annual involvement. Because motorcar accident settlements tin be significant sums of money, a 12 percent annual penalisation can add up quickly if the insurance company doesn't pay the merits on time.

PIP Claims

The rules for PIP claims are more clearly divers than the rules for other types of insurance claims. The beginning deadline is yours — you must seek medical handling inside 14 days to submit a merits for PIP benefits. Once you submit your claim, Florida law 627.736(iv)(b) says that the insurer must pay or deny the claim within 30 days. If y'all don't accept all of the information to submit the entire merits at once, the insurer has 30 days to pay the merits later on they receive each part of the claim.

If the insurer denies a claim, they must give an itemization of the denials. If the rejection is because of a clerical mistake past the customer, the insurance company must provide an explanation. In that case, the client has fifteen days to submit a revised claim.

Related: How MedPay/PIP Insurance Can Help You After a Automobile Blow

The Mailbox Rule for Making Payment

For the purposes of paying PIP benefits inside 30 days under Florida Statute 627.736(4)(b), the mailbox rule applies. The insurance company complies with the 30-twenty-four hours standard when they put the settlement check in the post. It doesn't count simply to put the settlement cheque into their ain intra-function mail arrangement.

It's besides not enough to authorize payment on the 30th day and then wait for the accounting department to cut a check. Instead, the insurance company needs to put the bank check into the bodily mail system by the 30th mean solar day. And then, if it takes a few days to become to the recipient, the insurance company is still in compliance with the police force.

How Does the Insurance Company Determine What to Pay When the Vehicle Is a Total Loss?

Florida law 626.9743 gives some guidelines for how the insurance company must value a vehicle when they're determining a off-white value for the full cost of a car. The insurance company may look at contempo sales for comparable vehicles in the expanse. They may besides get quotes from reputable, licensed dealers in the area. Finally, they may turn to a guide like Kelley Blue Book to determine the value of the damaged vehicle.

Why Are the Rules Unlike for PIP and Regular Insurance?

In theory, a PIP insurance claim shouldn't require an inquiry into fault. The damages should exist covered regardless of who caused the accident. The insurance company'south investigation should be express to whether coverage applies and the amount of amercement.

For a general insurance merits, error might exist an outcome. If error might exist a question in whether insurance coverage applies, the insurance company may need more time to investigate the claim. What's reasonable depends on the circumstances of each particular case.

What Happens When the Insurance Visitor Doesn't Pay As They Should?

If the insurance visitor doesn't follow the rules for accepting or denying a claim within the required menstruation of fourth dimension or within a reasonable menstruum of fourth dimension, y'all may have a claim for bad faith. The insurance visitor might have to pay you extra considering they didn't do their part to fairly investigate and pay the merits.

Related: Understanding Bad Faith Laws in Your Auto Accident Claim

In Florida, bad faith insurance laws come from both Florida police force 624.155 and Florida's common law. In addition to compensation for bad organized religion on the office of the insurance company, you as well have the option to bring a claim in a court of police force in order to compel the insurance company to pay you. You have iv years from the date of the accident to bring your merits.

How a Car Blow Lawyer Can Help

If the insurance company isn't treating you fairly, contact Jack Bernstein, Injury Attorneys. Our skilled legal team understands mutual insurance company tactics and will fight to ensure your rights are protected under Florida law.

If you need assist dealing with your insurer afterwards a machine accident, call us at (813) 333-6666 or fill out our contact form to schedule your free case evaluation. There is no fee unless we win.

The information contained herein is intended for informational purposes just and should non be construed as legal communication. Seek competent legal counsel for advice on any legal thing.