Claim Period

by Dan
(Calgary)

We experienced a house fire in October 2008 at which time claim was initiated with insurer. We're being asked to bring claim to a close. How long are we allowed to keep claim open before finally settling?

Answer: House Fire Insurance Claim Period

Hi Dan,

Sorry to hear about the fire. I am not aware of a definite time period that must be adhered to. There isn't one mentioned in home policies that I scanned today

In most cases both the insurer and the insured want to settle a claim fairly quickly. I am not sure why you would not want to get it closed? The only reason I can think of is that you are not yet satisfied ...

The downside to not settling is that other insurers will not be interested in taking your business while there is an open claim. And your insurer might come to a point where they will no longer offer you coverage.

There must be a bit more to this story. If you want to elaborate by commenting I'll see if I can improve my answer.


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