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What Does Home Insurance Cover? When Should I Make A Homeowners Claim?
Posted by Legacy Insurance Group on
You just moved into your new home and now have Maintenance, Repairs, etc. You quickly learn that being a homeowner can sometimes be a real challenge
Well, claims are not to be treated lightly and should only be used for catastrophe. That’s why we recommend contacting your local agent when you have a question of whether to file a claim or not. Making a claim for something that would otherwise be an inexpensive repair can come with serious unintended consequences such as a premium increase or policy non-renewal.
We can help you with your home insurance in 2 ways:
1) We have a Claims Surcharge Estimator which will predict the % of surcharge and additional $ you would be charged the following year after the claim.
2) We can give you a local recommendation handymen or trades that can help you repair damage less than your deductible.
We recommend the rule of 3:1. That means if your deductible is $1000, it is recommended not to file a claim less than $3000. Your 1st claim is likely to carry a surcharge of 30% and will be considered in your CLUE Report for 5 years. A claim that costs a few thousand dollars could end up costing you much more in the long run. Having 2 claims in 5 years will often prevent you from obtaining coverage.
Learn more about Home Insurance by calling us at 703-430-1200 and speaking with an insurance expert!