A crash that involves someone’s personal vehicle and a semi-truck will likely cause severe damage to the smaller vehicle and catastrophic injuries to its occupants. Such collisions are among the worst that occur in Iowa every year, with people dying and developing lifelong injuries as a result of these wrecks.
Someone who has been injured in a collision with an 18-wheeler or is grieving the loss of a loved one who died in a wreck is likely in a strong position to file an insurance claim and may be in a strong position to file a personal injury lawsuit as well. Such claims can lead to significant compensation, as commercial vehicles often have much higher insurance coverage than smaller vehicles do. Of course, more money at risk often leads to more careful scrutiny of a claim.
The company must respond quickly
Iowa state law imposes several specific deadlines on a company’s response to insurance claims. After the affected party submits a claim, the insurance company only has 15 days to respond to them acknowledging the claim. The company will typically need to provide the specific paperwork that it requires, including proof-of-loss forms.
The insurance company will then have 30 more days to make a decision about the claim after it receives all of the necessary documentation from the claimant. After announcing the decision, the insurance company may move forward with a payout or may need to respond to an appeal.
If the company approves the claim, it will typically need to issue payment within 30 days of the approval. Unless there are appeals or other complications that might delay the process, most claimants can expect to receive funds within 75 days of notifying the company of the claim.
However, given how large commercial insurance policies frequently are, the negotiation involved in such claims is often more intense than in claims resulting from a collision between two personal vehicles. Many people affected by a commercial vehicle crash will require the support of a professional to ensure the insurance company abides by state law and to obtain the best possible outcome given the situation.
Learning more about the unique rules that apply to insurance claims and commercial vehicle crashes can help those who have been hurt as a result of a wreck in Iowa pursue any and all compensation to which they may be rightfully entitled.