How long can you wait to file an insurance claim on your home after the damage has occured?
I am wanting to know how much time one has to file an insurance claim after damage has occured. For instance, your house gets hit by a tornado but your in a coma and dont come out until a year later. This is not my case. Just trying to make question clear. Is there a time limit on how long you have to file an insurance claim after damage occurs?
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Well, if no one paid the mortgage while you are in a coma it is a mute point.
You are expected to contact them right away. The main reason is to get you funds immediately to prevent further damage. If your roof was damamged you and they need it fixed before further damage results.
For specifics you need to read your policy, it should be in there.
The policy conditions state that you should report a claim with due diligence and dispatch…. In other words as soon a possible. This is to let the company know as to prevent any further damage already suffered by the loss. One other thing to remember is that it is your obligation ( Under the policy conditions for the insured) to do what is “possible” to prevent Further damage. ie: covering windows etc etc.
Their are unforeseeable situations however.but make sure your excuse is good if you report the claim late.
There’s no “set in stone” rule. Theoretically, you can file a claim five years after the incident. THERE IS NO LEGAL TIME LIMIT. Well, that’s on a homeowners policy. For liability policies and med malpractice, it’s different.
The problem is, the longer you wait, the harder it is to prove the damage was from the claimed incident, and unless you’re just coming out of a coma, you need a pretty darned good explanation.
Real life example: I had a client put in a claim for missing scheduled silver, a year and a half after they moved – claiming it was missing in transit from the move. She hadn’t done a complete inventory, and when she finally got around to it, discovered the missing silver. The claim was paid ($6,000 roughly).
Until they approve you