When homeowners experience damage to their property, they need relief fast. The work of building back up after your roof has been damaged or a hurricane wreaks havoc takes time and costs money. That is why you have property insurance – to help restore your home or business to its original condition.
The law in Louisiana recognizes this need for swift action, which is why per Louisiana Revised Stat. § 22:1892, insurers have just 30 days to settle the claim. The statute specifies:
“All insurers issuing any type of contract, other than those specified in R.S. 22:1811, 1821, and Chapter 10 of Title 23 of the Louisiana Revised Statutes of 1950, shall pay the amount of any claim due any insured within thirty days after receipt of satisfactory proofs of loss from the insured or any party in interest. The insurer shall notify the insurance producer of record of all such payments for property damage claims made in accordance with this Paragraph.“
What Happens if the Insurer Does Not Settle the Claim in 30 Days?
If, after 30 days, the insurance company does not pay the undisputed claim portion, they could be seen as acting in bad faith. Delays in payment or claim denials without valid reasons is illegal in Louisiana.
If you suspect bad faith practices by your insurance company, consult a qualified attorney right away. One who is experienced in insurance law in Louisiana can provide guidance on your specific situation and help ensure your rights are protected. Our team at Kandell, Kandell & Petrie helps homeowners and business owners in Louisiana with their insurance claim questions and disputes. Contact our team today to speak to one of our claims advisors in New Orleans to discuss your needs.
