Prior Home Insurance Claims
Insurance claims have become a nuisance for the insurance company as well as for the consumer. How you may ask? The insurance company has to pay the claims, and if a Public Adjuster is involved, that can increase exponentially! But why for the insured? Home insurance claims are starting to count against you when shopping for home insurance. They can take up to 5-years to come off of your history. We had a guy that filed four claims in two years but owned five rental properties and a primary residence. The only market that would accept him was the Surplus Lines one (we can help).
Here are some helpful tips:
- Try to avoid a Public Adjuster. They are notorious for causing the insurance claim to cost a lot more. It is rumored that some specialize in making coffee stains look darker to simulate different stages of mold. There are claims that a Public Adjuster could help, but let it be your last resort instead of your first.
- Maintain your house. Claims can be denied because they are a maintenance issue.
- Fix damaged claims. What I mean is that if you get paid by an insurer to fix a claim, make sure you do it. You can be non-renewed by not fixing it.
- Is it worth filing. Get an estimate of how much it would cost to fix the damage yourself. If it is under your deductible, you may not want to file it. Yes, filing the claim could make it count towards the deductible but it might not out way the cost in the next 3 to 5 years.
- If the claim is because of an act of God, then usually you are advised to file it. Those claims are typically treated differently!
In summary, check with a knowledgeable home insurance Agent before filing a claim. Filing a claim that is below your deductible most of the time is not worth the trouble it could cause. Claims are tasking a toll on the home insurance companies. File them, if needed, but do not abuse the system. Citizens just limited water loss damage because of claims.