Unpaid Insurance Claims In NJ – Still A Problem
Post Date February 4, 2013 – New Jersey Homeowners Insurance Company Claim Departments are still plagued with unpaid insurance claims. Sadly; the majority of the unpaid insurance claims are from damage produced from Superstorm Sandy. Both state officials and those customers with unpaid insurance claims would like it if the process sped up. Aside from calling upon the insurers to speed-up the claims processes, governor Christie also ordered that the time limit for insurance claims adjusters to respond a particular claim be extended to 15 days, from the usual six days. In addition to this, the Governor also announced on Friday, Nov. 30, that New York’s insurance regulator will be posting to the New Jersey Insurance Department website, a reports card system be instituted for all Insurance carriers with unpaid insurance claims. This new system will make NJ Insurance Companies more accountable in responding to their consumer’s needs following the disaster. These report cards will be available to the public through the website for the New Jersey Department of Banking of Insurance. Hurricane Sandy was reported to have damaged or destroyed more than 1/4 of a Million Homes in the Garden State alone.
Unpaid Insurance Claims Plague Garden State Homeowner Policy Owners
Unpaid insurance claims so far have already reached almost 150,000 and with this also comes a rising number of insurance claims complaints. According to the recently released report cards among the 25 insurers rated by the state of New Jersey; Allstate Corp. by far holds the highest volume of complaints. Both Allstate and State Farm hold the record for a high number of unpaid insurance claims because they are the 1st and 2nd largest insurance companies in most states.
After any natural disaster, both auto insurance and homeowners consumers are faced with a slow-paced claims processes. Superstorm Sandy has has been no exception. It seems like insurance companies never learn from their mistakes. The new report card system may help.
Michael E. Dortch
President & Senior Agent
Corporate Home Office
618 South Broad Street
Lansdale, Pennsylvania 19446
(800) 807-0762 ext. 206