Commercial insurance is something that every business should have. This type of insurance protects your business in the event that something happens and you need to file a claim. It’s important to know how long it takes for commercial insurance to pay out a claim, so you can be prepared in the event of an emergency. Allen Insurance Agency in Ramseur, NC can help you navigate this important coverage.
How Long It Takes for Commercial Insurance to Pay Out a Claim
Typically, it takes 30 days, but it varies greatly depending on the type of claim you’re filing. For this reason, it’s vital to partner with a professional insurer in Ramseur NC, one like Allen Insurance Agency.
Property Damage Claim
Most insurance companies will send out an adjuster for property damage claims within a few days of the claim being filed. The adjuster will assess the damage and determine the cost of repairs. Once the insurance company has this information, they will issue a check to the policyholder. Be sure to keep all receipts and records of repair costs. Once repairs are completed, the insurance company will reimburse you for the cost.
Liability Claims
For liability claims, the process is a bit different. The insurance company will investigate the claim to determine who is at fault. This can take weeks or even months. Once the insurance company has made a determination, they will begin working on a settlement with the other party. If you have been injured in the accident, you will need to submit medical bills and records to the insurance company. Once a settlement has been reached, you will receive a check for your portion of the damages.
Give Us A Call
The claims process can be confusing and frustrating, but Allen Insurance Agency in Ramseur, NC is here to help. We will work with you and your insurance company to ensure you get the compensation you deserve. Give us a call today to learn more about our service.
