“If I file a home insurance claim, there’s no way that my premium won’t go up!”
FALSE. Yes, many home insurance companies will look at your history of claims, but there are a lot of other factors that go into how much you pay for your home insurance. When you file a claim, the insurance company takes into consideration where you live, if there is a higher crime rate in the area that you live as opposed to other less-chaotic areas, and if the geographical area you live in has a history of natural disasters. All of these will determine how much you pay for your home insurance.
Filing one claim over the course of a couple years is not likely to raise your premium. However nothing is guaranteed, so you definitely want to think twice before filing claims for small/minor damages to your home. Save the claims for the larger problems! Yes, if you happen to have a disaster streak or bad luck follows you wherever you go, and you are filing multiple claims a year your premium will increase. This is where the myth “If I file a home insurance claim, there’s no way that my premium won’t go up!” comes into play.
Many people assume that your premium will increase whenever you file an insurance claim. This is not true. When claims are filed once every couple of years for more major problems with your home, your premiums will not jump sky high. It is only when you are filing claims multiple times a year that your premiums will consistently increase. But if you are one of those people who don’t like to take the risk of adding another claim to your claims history, there are things you can do to decide if you really need to file a claim or not.
In the event of you needing to file a claim and your premium increasing, evaluate the damage and estimate what the costs would be. If the number comes out to be not much higher than your deductible then it may be more reasonable for you to not file the claim and just pay for the damages yourself. This way if you have filed claims in the recent past, it is sure that your premiums will not increase. In cases like this it is best to call The Claim Guide. We can evaluate your home, damages, and costs so that you know for sure if you need to file a claim, and if you do you have the experts to help.
Stop believing everything the major insurance companies are telling you and call the Claim Guide for your consultation today. We aim to keep you satisfied.