How Long Should a Commercial Hurricane Insurance Claim Take?

Hurricane season brings hurricane insurance claims, and for good reason. Just last year, hurricane season caused $43 billion in damage—almost half of all disaster-related losses in the country. The 2021 hurricane season is shaping up to be even harsher in some respects with Hurricane Ida recognized among the most powerful hurricanes in the nation’s history.

This blog focuses on the most costly damage caused by hurricanes: commercial damage. Commercial hurricane insurance claims are also the most complex, dealing with multiple assets, business interruption, and other matters related to running a company. Our Louisiana insurance claims attorneys have been investigating bad faith insurance claims related to Hurricane Ida to help our clients rebuild.

If you have questions about your commercial hurricane claim, call (225) 209-9943 for a free consultation today.

Insurers Have 30 Days to Pay Valid Claims Under Louisiana Law

How long should your commercial hurricane insurance claim take? According to Louisiana law, it should take no longer than 30 days. Louisiana law stipulates that an insurer must pay a valid claim within 30 days of receiving proof of loss; if they fail to do so, the claimant is entitled to a penalty payment worthy 50% of the total amount due and attorney fees, in addition to the original claim value. The 50% penalty is worth a minimum of $1,000. However, the claimant has to prove that the failure to pay was “arbitrary, capricious, or without probable cause.”

Now, you may be wondering why your insurer is taking longer than 30 days to settle your claim. Your insurer will likely say it has good reason to delay your settlement, potentially due to requiring more forms, more investigation, or by passing the claim onto a new adjuster, which starts the process over.

When Do I Involve a Hurricane Insurance Claims Lawyer?

If it’s been 30 days and your insurance company hasn’t paid, call a lawyer. Clayton, Frugé & Ward would immediately begin investigating the insurance company’s actions, building a case showing that they are delaying payment without cause. With our firm’s added pressure (and the prospect of facing a jury), the insurance company will be more likely to settle your claim for what you need.

We know this because we’ve done this before. Our track record of beating big insurance companies means your insurer will take us seriously, and they’ll treat you accordingly. If they don’t, they can face us in court where they will be subject to the judgment of a jury.

Call (225) 209-9943 for a free consultation today.