This could be anything from a few months to a few years. The amount of time it takes to settle a claim varies with each claim. The variables that determine the time period include: the coverage provided and the limitations indicated in your policy; the insurance company's procedures; the type and amount of damage; the personality of the adjuster assigned to your claim; the amount of time it takes to prepare and submit your claim, including all the supporting documents and information. Your policy will indicate the deadline for submitting proof of losses and repairing/ replacing or collecting full value.