How long does it take to receive compensation after a full claim?

Accidents or thefts can scare anyone, but in these situations it is important to know how long it takes to receive compensation after a full loss. Those who have car insurance can come out better in these types of situations, with fewer concerns to resolve.

After all, car insurance is already contracted to help in these situations, and thus, ensure that the customer suffers as little inconvenience as possible. Those who use car insurance want to have the security of being able to count on their insured in case of any unforeseen event, and thus, not have to deal with the situation alone.

How long does it take to receive compensation after a full claim?

This depends on each insurance company. The law states that the maximum period is 30 days after the payment request. This is normally complied with by insurance companies.

However, to make a claim for compensation, companies usually ask for a series of documents to register the loss and thus be able to release the amount. These documents must be submitted in full, without alterations and in accordance with the law. It is worth remembering that only supporting documents are sufficient, and it is forbidden to require witnesses to be presented.

The sooner the consumer submits all documents, the sooner the countdown will begin. During this period, the situation of the customer, the car and the accident will be assessed. Only after all documents have been submitted and this analysis period has begun will the 30 days start to be counted.

The faster the money is released, the better the customer service, and thus, the more points you gain with many consumers. After all, in the event of a claim, no one wants to wait months for the compensation to be released.

The company didn't pay my money, what now? How long does it take to receive compensation after a full claim?

If the company exceeds the 30-day limit for making a payment to the customer, the customer must contact the company stating that they are unhappy with the company's payment date. This serves to alert the company that it is already out of compliance with the deadline and the law.

If the situation persists, the consumer should contact consumer protection agencies and file a complaint against the service provider. It is also recommended that you contact your broker so that they can provide you with more information on how to proceed in this situation.