There are many types of coverage offered on the policy of a typical owner, but the question whether or not to file a claim with respect to foot the bill yourself for any damage often arises
This may seem contradictory -. buying insurance but then not file a claim - but there are indeed good reasons not to file. Many carriers offer loss free credits or provide a better level of prices for customers without claims history. claim frequency and claim payment amounts are often used to help determine whether or not an insurance carrier renew your contract in the coming year. An owner who is constantly filing claims is more likely to be nonrenewed an owner with a request within a period of three years.
However, this does not mean that you can not drop lower demand. A request for $ 1000 does not necessarily mean you'll be nonrenewed. If the coverage is there, the insurance company will cover the loss. You simply need to weigh the advantages and disadvantages of filing and decide what is best for you financially, given that more frequency of claims filed, the more chances of increasing premiums or non-renewal of your police.
For example, fallen trees are common during the storm season. Tree removal can be an expensive affair, especially if you have several trees that have fallen on your property. Most carriers have some provisions regarding when tree removal is covered and how much they will pay. Some carriers require that the tree or trees must have landed on a covered structure or blocking a driveway, while others may cover any falling tree on the property. Most carriers also cap the amount they will pay for any loss of $ 500, regardless of the total cost or the number of trees felled. If you have a $ 1,000 deductible on your policy from the house and three trees fall with a bill Society removing trees from $ 10, you can end up with a claim check for $ 0. You must pay the balance of $ 1,000 out-of-pocket to cover your deductible. In this situation, it may be best to just pay for the damage yourself.
My suggestion is to contact your insurance agent to discuss the situation before filing a claim. You want to be sure that there is no coverage or limitations surrounding the loss that can leave you on the hook for the majority of the damage. Once you talk to your agent, assess the damage and an estimate of repairs so that you have an understanding of the costs involved, you may find that some losses are much cheaper than you think (and vice versa).
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