Q: I bought a 2018alibu after a few years I had an accident in Oct of 2022. The insurance company took 4 months for them
To get it into their car parson to look at it. Then that person deemed it totaled. I missed the parent im November and now gap won't pay for the rest of the gap even though I paid the rest till February of ,2023 . Can they do that on both the insurance company takin so long to get me in and hap no paying from time the car was wrecked?
A:
Under the Texas Prompt Payment Statute, insurance companies have a fixed amount of time to accept or reject a claim from a policyholder, or to request additional information. In the latter case, they have 15 days from the date that they receive the requested information. Failure to comply can result a statutory interest at 18% per annum on the amount of the unpaid claim.
If this was a liability claim, the other is responsible for loss of use from the date of the accident until the date of payment if the vehicle is totaled. Loss of use typically means the fair rental value the the same year, make, and model of the vehicle damaged
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