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Question

How long can an insurance company wait to pay out your claim?

In Virginia, is there a time limit on how long after a car accident an insurance company can wait to pay out your claim? I’m worried about waiting too long to file a claim because at this moment, I am unable to pay for my deductible but I might be in the future. I’ve spoken with my company and body shops and no one will give me an actual answer.

Agent Answer

Ava Lynch

Virginia 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.

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