House insurance is extremely important when you own a home. It can mean keeping your home or losing it. Home insurance is a way that you can protect yourself if anything were to happen to your home and property.
Insurance claims can cause your rates to go up. It is dependent on how many claims you file within a period of time. This isn’t always the best when it comes to your finances, or your insurance, so knowing when you should file a claim is very important.
Deductible
The first place to look is your deductible. A smart way to look at claims is to see if the repair or replacement of an item costs more than your deductible. The common idea behind this is that if you have damages less than your deductible, don’t file a claim because insurance won’t pay. There is no need for a claim not being paid by insurance to cause your rates to go up.
Excessive Home Claims
If you have filed four or five home claims within the last decade, you should attempt to see if you can recover without filing a claim. The reason you should re-look at your claim is that a lot of companies will remove you from their policy if you have too many claims. If there is a weather claim and a non-weather claim, the claim might not cause your rate to go up or be removed from their plan.
Coverage
Be sure to always know what coverage you have. There is no point in filing a claim if your house insurance company doesn’t cover it. There is no need to waste the insurance companies time or cause your rate to go up if your policy doesn’t cover it.
Looking for more advice on home insurance? Contact us today.
Robert Macoviak is the President of Oyer, Macoviak and Associates. Oyer, Macoviak and Associates is the oldest independent insurance agency in Boynton Beach and has been in business since 1953. Oyer, Macoviak and Associates are vested members of the community who are committed to doing business face-to-face and being your insurance advocate in times of need.
