Rosenbaum & Rosenbaum, P.C. | February 17, 2023 | Personal Injury
If you were recently hurt in a car accident, construction accident, or slip and fall, you might be wondering when you can expect your settlement money. You have bills to pay and have probably missed work, causing further financial strain on you and your family. After your lawyer files a demand letter with the relevant insurance company, you then have to wait for a response. But how long will this take?
If you are wondering about insurance demand letter response time in New York, do not hesitate to reach out to the skilled car accident lawyers at Rosenbaum & Rosenbaum, P.C. We can evaluate your particular situation and give you a better idea about the potential timeline to resolve your case. But until then, read on for valuable insight into the topic.
Timelines in Insurance Claims
In New York, there are a number of important deadlines that insurance companies must adhere to, including the following:
Deadline To Acknowledge a Claim
You might be wondering, “How long does an insurance adjuster have to respond to a claim?” New York law requires the insurance company to acknowledge the receipt of your claim within 15 business days. This rule applies whether you are making a claim with your own insurance carrier, such as with a PIP or uninsured motorist claim, or with another person’s insurance provider.
Deadline To Investigate a Claim
Insurance companies also have a 15-business-day deadline to initiate an investigation. There is no specific deadline by which they have to end this investigation, but they are required to process claims in good faith. Their investigation must also be sufficient enough to determine liability.
However, it is important to remember that the insurance company is not vested in helping you obtain maximum compensation. Instead, insurance companies want to protect their own profits. They do this by denying and minimizing the value of as many claims as possible.
This is one reason why it is important that you hire a personal injury lawyer. A lawyer will advocate for your interests, not the insurance company’s. Your lawyer can thoroughly investigate the claim to find evidence of the other party’s liability and the full extent of your damages.
Deadline To Accept or Deny a Claim
Once the insurance company has finished its investigation, it has 15 business days to notify you whether it is accepting or denying your claim. This is where the demand letter timeline may come into play. The insurance company can request information from you as part of its investigation. For example, it may request proof of your losses. This information is usually included in the demand letter.
Therefore, there is generally a 15-day deadline for the insurance company to respond to the demand letter, provided that it contains all the information the insurance company requested and the insurance company has otherwise completed its investigation.
However, New York law also allows the insurance company to give you notice that additional time is needed to determine acceptance or rejection of the claim. This written communication must state the reasons why more time is necessary.
Deadline To Assert Lack of Coverage
The insurance company must also notify the claimant as soon as it makes a determination that the insurance policy has lapsed or they are not entitled to coverage because they violated the policy’s terms.
Deadline To File a Lawsuit
There is also a deadline to file a lawsuit, referred to as the statute of limitations. For most personal injury claims in New York, this is three years from the date of the accident.
Ways To Speed Up Insurance Claims With the Help of an Attorney
Fortunately, there are ways to speed up insurance claims, such as:
- Filing your claim promptly
- Responding to the insurance company in a timely manner
- Keeping all original documents regarding the accident and your injuries
- Following your doctor’s orders
Also, working with an experienced lawyer can help you handle the claim promptly and professionally. While you focus on recovering from your injuries, your attorney can go to bat for you and handle virtually every aspect of the claims process.