Candace Baker, Car Insurance Writer
@candacebaker
Insurance companies in Wisconsin have 30 days to settle a claim after it is officially filed. Wisconsin law states that if your insurance company fails to either pay or deny your claim within 30 days, a 7.5% annual interest rate will be applied to the overdue payment.
Key Things to Know About the Insurance Claim Timeline in Wisconsin
- Your insurer has 30 days to make a decision on the claim and submit final payment. This time frame begins once the insurance company receives written notice of your claim.
- Even if you have only given your insurance company proof for a portion of your losses, your insurer is still required to compensate you for that portion of your losses within 30 days.
- You are entitled to an efficient settlement. If you think that your insurance company is violating the law or operating unethically, you can file a “bad faith” lawsuit, which may award you the original settlement amount with added interest and penalties.
While these are the defined time limits for settling a claim, a claim may take longer to settle if you have not provided your insurance company with complete proof of loss forms. Also, claims involving serious or multiple injuries typically take longer to settle since providing proof of loss may be more complicated.
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