Is it too difficult to make a property insurance claim without your premiums skyrocketing?

  • When should you make an insurance claim?

    For many, the answer is a no-brainer: "Whenever I have an accident or suffer damage to my house or car."

    Unfortunately, the decision about whether to file a claim is rarely so simple. In some cases, making a claim may cause an insurance company to raise your rates.

    In other instances, the decision to file a claim could put your name into a database that makes it difficult to get or maintain coverage in the future.

    Insurance is there to give you peace of mind and to restore a damaged car or property to its original state.

    "The whole point of insurance is to make good on a loss, to make individuals whole again," says Claire Wilkinson, vice president of global issues for the New York-based Insurance Information Institute, an organization focused on improving public understanding of insurance.

  • Insurance claims better be worth it

    Insurance claims better be worth it, because your premiums do rise when you make a claim. It is better in the cases of minor damage to just take care of the damage yourself rather than make a claim on which you have to pay a deductible PLUS deal with a rate increase.

  • Yes, every time I make a property insurance claim, my premiums skyrocket no matter the cause for the claim.

    Insurance costs contnue to rise every time a claim is made. Insurance is paid every month to help cover the costs of accidents or damage and yet when a claim is made based on the promise, insurance costs continue to rise as if the insurance companies have not built the cost for covering claims into their business models.

  • No Problems In The Past

    I've made a few claims over the years with my home insurance and I don't recall paying much higher premiums due to them. One was for hail damage which was quite expensive and costly. In my experience this hasn't been a problem, but overall you have to remember that insurance is more a scam than a legitimate business.

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