QUESTION
Do insurance companies have any time limits?
Asked on Aug 23rd, 2013 on Personal Injury - South Carolina
More details to this question:
It sure seems like ins. companies enjoy just 'sitting' on MY money. THEIR client damaged me and my car yet it's taken almost 3 years for them to agree to pay for damages. Now it's over and every "I" has been dotted and they STILL seem to control time itself. Are there no legal guidelines for these menstruating trolls? There is NO possible way it takes so long to get that check out the door. What factors cause them to NOT send it?
6 ANSWERS
Ronald A. Steinberg
Sue them AND the person that caused the accident. Interest runs on the suit from the date of filing. If you have waited longer than the statute of limitations, you may have a problem. Speak to a lawyer in your jurisdiction.
Answered on Sep 11th, 2013 at 11:29 AM
Automobile Negligence Attorney serving Orlando, FL
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Kelaher Law Offices, P.A.
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File suit in small claims court and claim interest on the monies, retroactive to the date of the accident or there is a statute in Florida (I apologize that I don't know it off the top of my head) that requires insurance companies to pay within 20 days of written confirmation of a settlement, or they have to pay interest retroactive to the date of the writing confirming the settlement.
Answered on Sep 05th, 2013 at 4:16 PM
Criminal Defense Attorney serving Anderson, SC
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The David F. Stoddard Law Firm
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There are no real time limits. The main factor is whether an agreement is reached between the accident victim and the insurer as to the amount of damages to be paid. If you cannot reach an agreement, then you must await trial. Once a case is settled they have a reasonable time to send the check. Usually this is one to three weeks. I have had cases where it took a couple of months. If it takes longer, I think an explanation as to the cause of the holdup.
Answered on Sep 05th, 2013 at 4:14 PM
Thomas Edward Gates
You not using an attorney contributed to the delay.
Answered on Sep 05th, 2013 at 4:14 PM
James Eugene Hasser
If time wasn't built into the settlement agreement, they can take their sweet time. The rule is that they can have a "reasonable" amount of time. If they're not living up to their end of the bargain, you can always back out of the settlement or file a motion to enforce it in court. Then, you can use the court system to impose time limits.
Answered on Sep 05th, 2013 at 4:14 PM
Personal Injury Attorney serving Charlotte, NC
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Paul Whitfield and Associates P.A.
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There is a 3 year statute of limitations. Be careful.
Answered on Sep 05th, 2013 at 4:14 PM