Does making a claim on your house insurance make your premium go up even if they don’t pay?
Monday, March 29th, 2010 at
9:07 pm
bruce_eel asked:
I have a 1000 dollar deductible and I made a claim to my insurance bc a snowstorm damaged my gutter. I realize repairing the gutter on its own will be significantly less than 1000 but I made the claim because I do not know if there is any other damage. If the adjuster comes out, makes an estimate, and the insurance company does not pay anything because the estimate is less than my deductible, will the premium still go up?
I have a 1000 dollar deductible and I made a claim to my insurance bc a snowstorm damaged my gutter. I realize repairing the gutter on its own will be significantly less than 1000 but I made the claim because I do not know if there is any other damage. If the adjuster comes out, makes an estimate, and the insurance company does not pay anything because the estimate is less than my deductible, will the premium still go up?
Tagged with: Gutter • Insurance • Insurance Premium
Filed under: Homeowners Insurance
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I actually just went through this 2 weeks ago, when a tree fell down on my property and incurred about $1000 worth of damage, which happens to be my deductible. According to my agent, even though the insurance wouldn’t pay out, the premium would still go up because a claim was started!
To avoid this, you have to call your agent and the adjuster and “formerly withdraw the claim.” This pretty much annuls it and means that we all pretend it never happen. And, your rates state the same. This advice came from my insurance agent
not necessarily -your agent will explain this to you.
Premium increases typically happen when you receive payment on claims filed. Some states have a threshold to where an insurer cannot increase your rates if the payout is less then a specific dollar amount
Example -insurance payment of less then $1,000 = no rate increase
This is not completely definitive though….make sure you speak with your agent who will contact underwriting to see if there would be an increase.
Keep in mind also that frequency of claims is a big factor. If you think the damage is less then your deductible, tell your adjuster that you are withdrawing your claim and it will be closed.
Yes.
At the very least, you’ll lose your claim free discount.
You jumped the gun on this claim.
You can easily check your quotes in internet, for example here – homeinsurance.awardspace.us