How Long Does An Insurance Company Have to Settle A Claim in Nevada
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How Long Does An Insurance Company Have to Settle A Claim in Nevada?

If you were in an accident in Nevada, you may be wondering how long does an insurance company have to settle a claim in Nevada? Also called the ‘Silver State’, Nevada has a statute of limitations that are important for policyholders to know. Insurance companies in the state must follow these statutes when handling insurance claims.


How Long Does An Insurance Company Have to Settle A Claim in Nevada?

After receiving the proof of loss, insurance companies have 30 days to approve or deny your claim. Notification must be sent in writing, referencing specific exclusions, conditions or policy provisions affecting the final decision.

If your claim is accepted, insurers have up to 30 days to pay the claim or be required to pay interest calculated using the original payment due date, until the claim is paid out. If additional time is required for investigation, insurers shall notify claimants within 30 business days from receiving proof. However, this cannot be used as a tactic for delaying negotiations or settlements, affecting the claimant’s rights under the insurance policy, contract or statute of limitations.

The use of an agent is authorized by the Nevada Administrative Code to handle the claim of the insured on behalf of the policy provider. All claims must be reported by agents in a timely manner. Insurers can end authority granted to agents through a written notice or suspend them during the pendency of disputes in regard to the cause of termination. Your agent must deliver a copy of your claim to the insurer when requested or upon becoming aware of one of the following factors:

  1. Claim Involves Dispute of Coverage
  2. The amount determined by the commissioner or limit set by the insurer is exceeded
  3. The Agent Doesn’t Have The Authority To Settle The Claim
  4. The claim is Closed by payment with a pre-set amount from the insurer or commissioner. (Whichever equals to be Less)
  5. The claim is open for greater than 6 months


Nevada has a detailed statute of limitation for “unfair practices in claim settlement, and insurer liability for damages.” This carefully details the actions taken by insurers, and how they are liable for any damages caused to the insured.

The list describes many unfair practices in relation to the insurer’s failure to follow policy provisions, attempting to mislead insured parties or settle with unreasonable terms throughout a claim handling process.

For instance, it is illegal for insurers to accept arbitration awards by claimants or insureds to favor either party during a settlement or to offer a less than reasonable compensation. All insureds in Nevada need to know their legal rights under the state statutes, as it could help with understanding how the claim handling process works in Nevada.






Nevada Admin Code: NAC 686A.675

Nevada Admin Code: NAC 683A.510

Nevada Revised Statutes: NRS 686A.310