law does not specify an actual time frame for a claim payout but simply requires that insurance companies pay claims in a reasonable time. Most insurance companies want to close claims as quickly as possible, however, so you may want to contact that company directly to ask if they have an estimated date of the payout. In terms of filing a claim, in Virginia, the statute of limitations for filing a property damage claim is 5 years
. So, you have 5 years to be able to pay your deductible.