Should you file a claim?
Let us help you make the right decision.
Do you ever ask yourself if you should file a claim? Your first reaction is, “Of course I’m going to file a claim! That’s what my insurance is for, right?” How many times have you heard your friends or relatives say the same line? While there is some truth to this statement, follow it with a lot of caution.
To a File a Claim, or Not to File a Claim? That is the Question.
Insurance policies should protect you and your property from the sudden and accidental. What if a tornado has ripped through your home? That calls for an immediate claim filing. But, what if you wake up to find someone has vandalized the exterior of your home? This second example is not as clear-cut.
Ask yourself a couple of questions first:
- Am I still able to stay in my home?
- Are all of my utilities presently on and working?
- Would my home be deemed unsafe or unlivable by city ordinance or law?
Did you answer no to one and two, but yes to number three? Then call your agent or carrier immediately and get a claim started.
Did you answer yes to one and two and no to number three? Take the time to assess the damages. Call your preferred contractor and start getting estimates.
Why get estimates before filing a claim?
I am so glad you asked! Built into your policy is your policy deductible. Deductibles vary by carrier and vary based on the type of claim you file. You will be out of pocket your deductible before any coverage from your policy may kick in.
Consider these few things:
- Do the damages from your estimate far exceed your deductible?
Call your agent or carrier right away to file your claim. - Are the damages from your estimate lower than your deductible?
In this case, your policy will not pay for any repairs. - Are the damages from your estimate only a bit over your deductible?
We recommend you pay for the entirety of the repairs out of pocket. Why? Because filing a claim means you will more than likely be seeing a rate increase at your next renewal. Too many claims on record put you at risk of your policy getting non-renewed.
Tip for the Road
Do not listen to the poor advice of friends or relatives who tell you to always file claims, and save all your receipts for anything you pay out of pocket. This is poor advice. As stated earlier, too many claims on your record could result in higher premiums and a possible non-renewal. And, you do not want to be that customer who is a part of the “Claim of the Month” club. This is not a fun club to be a part of.
We are Here for You
As always, if you ever have any questions about whether you should file a claim or not, give our office a call! We are more than happy to walk you thru the claims process from start to finish.