If you have ever filed a property damage claim with your insurance company in Las Vegas, Nevada, you might be familiar with the frustration of delays in responses or payments. But, is your insurance company violating the law by prolonging the claims process?
Understanding Nevada’s time rules for insurance claims
The Nevada Division of Insurance is responsible for regulating the insurance industry in the state and sets the time rules for insurance claims. These rules dictate the duration within which an insurance company must acknowledge, investigate, decide on and pay a claim.
Generally, the key provisions include that insurance companies must acknowledge receipt of a claim within 20 working days. They must respond to claimant communications within 15 working days. The insurance company must complete the investigation within 30 working days after receiving proof of loss.
Finally, they must make a decision on a claim within 30 working days, and pay a claim within 30 working days after approval. Of course, while these rules are applicable to various insurance claims, exceptions may exist based on policy terms, conditions and claim complexities.
Taking action against time rule violations
If you suspect your insurance company is violating time rules, contact your insurance company. Seek an explanation for any delays or denials. Maintain a record of all communications, noting dates, times, names and details. You can lodge a complaint online, by phone or mail with the Nevada Division of Insurance. The Division will review and may intervene with your insurance company.
Consider legal action. If other avenues fail, filing a lawsuit may be necessary. In that lawsuit, you may have to prove breach of contract, damages and potential bad faith for additional compensation.
Should your insurance company breach time rules or other regulations, you possess the means to hold them accountable and seek rightful compensation. Whether through communication, regulatory complaints or, if needed, legal action, homeowners can navigate the complexities of insurance law to ensure a just resolution.
