Making a claim to your homeowner’s insurance is nerve-wracking. You worry about being denied, and you worry about the effect on your insurance costs. However, you may not think about how supplemental costs are handled. Once your homeowner’s insurance claim in Texas has been settled and paid, it is essential to grasp the supplemental claim process. These claims are for additional expenses that may arise post-settlement, which cover unforeseen costs or newly discovered damages.
Timeframes for insurance responses
The Texas Prompt Payment of Claims Act dictates clear timelines for insurers to respond to supplemental claims. Within 15 days of submission, insurers must acknowledge receipt. Once the homeowner’s insurance company receives everything they need to process the claim, the insurer has 15 business days to accept or reject the claim. If additional time is required, there is a process where the insurance company can get additional time, but for most claims, this approximate 15 business day timeline is utilized. If approved, payment must be issued within 5 business days.
Required documentation
For a smooth supplemental claim process, detailed documentation is crucial. Homeowners or contractors need to furnish updated estimates, invoices and evidence of additional damages or increased material costs.
Handling delays and disputes
Should an insurance company fail to adhere to the regulated timeframes, policyholders retain the right to file a complaint with the Texas Department of Insurance. Keep meticulous records of all correspondence and submissions. This will support any disputes that may arise, and these documents will be requested by TDI and utilized in any subsequent litigation.
Conclusion
Supplemental claims play a pivotal role in ensuring comprehensive coverage for damages. By understanding the process’s intricacies and adhering to requirements and timelines, Texas homeowners can effectively navigate supplemental claims and secure the full benefits of their homeowner’s insurance policy.
