How does Filing a Home Insurance Claim affect my Rate?
When people purchase their first home insurance policy, they’re often doing it under the assumption that they’ll put it to use whenever something goes awry in their house. However, after seeing how filing a claim can affect rates, the decision whether to put home insurance to use isn’t always so cut and dry. Even in cases where only a minor accident or problem has occurred, filing a home insurance claim can increase rates by more than 30%. If major repairs are necessary, you may even have to consider whether your insurance policy covers contractor accidents, which are more common than many people realize. Here’s a look at some of the major claim factors that can affect your rates:
Multiple claims
No matter how minor, the amount of home insurance claims you file will have a direct impact on your rates. Obviously, the more claims you make, the more likely your insurance rates will increase. Keep in mind that filing too many claims could even cause your insurance provider to permanently drop your coverage.
Who’s at Fault?
Fault also plays a role in deciding whether filing a claim will increase your rates. If you file a claim and the insurance provider discovers you actually caused the damage, you’ll likely see a rate hike. However, if the damage was caused by unavoidable circumstances, such as bad weather, your rates probably won’t change.
Types of Claims
In the eyes of your home insurance company, some claims are worse than others. While certain claims may not affect your rates at all, others could have serious ramifications and even get your coverage dropped. For instance, bodily injury or dog bite claims are generally considered worse than a claim for a few broken windows during a storm.
Should I File a Claim?
Of course, the final decision on whether or not to actually file a claim comes down to each individual and their unique situation, but there are some things to take into consideration. Looking at the major claim factors listed above, you should be able to at least make an intelligent guess as to whether your rates will go up. Ask yourself these questions:
Have you already filed multiple claims, especially in the last couple years?
Are you responsible for the current damage?
Could this be a very costly claim for your insurance provider?
If you could answer yes to any of these questions, then you probably run the risk of increasing your rates by filing a claim. Is filing the claim worth risking your rates? Since the damage may be too expensive to repair on your own, filing the claim may be your only option. You may want to explore other options if you think it’s something that you can pay for out of pocket or even wait a couple months to deal with.
Upgrade Your Account | Unlock More Features | SAW.com
We Have Decades of Experience In Digital Asset Acquisitions
Your domain is one of the most mission-critical purchases your business will ever make. Speak with us
about domain brokerage and work with our experts to acquire your desired assets for the best price –
delivered with an end-to-end service.
Budgeting
Brand Protection
Strategy
Appraisals
Acquisition
Transfer & Registration
Market Research
Contract Negotiation
WE’VE SECURED PREMIUM DOMAINS FOR SOME OF THE WORLD’S BIGGEST BRANDS
WHY WE’RE TRUSTED
We’ve Done Half a BILLION Dollars of Domain Deals
Domain Transactions
1,000s
Domain Name Sales
$550M+
Years of Experience
15+
WHAT PEOPLE SAY
Real Success, Real Clients
"When starting a company, the Saw.com broker service team are some of the first people I call. A memorable
name, and the domain and social handles behind it, creates a huge amount of brand equity right out the gate
— no matter how big or how small your company is. From diapers.com to jet.com (and many more to come!) the
Saw.com domain broker team has helped my companies be seen."
MARC LORE
Serial Entrepreneur
"We have worked with Saw.com since their inception and would not work with anyone else. They help us in all
facets of business - from sales and transfers to renewals, SSL issues and any other matters that may arise.
You will not find a better, more trustworthy business that has maximized our profits."
FUTURE MEDIA ARCHITECTS
WHY CHOOSE US?
Nobody Does Domain Deals Better
Deep Experience
Our team is full of domain experts and our CEO, Jeffrey Gabriel, has contributed to $550m in domain transactions including blockbuster sales like the record-breaking $13m for Sex.com.
Intimate Service
We only work with individuals and corporations who we feel can gain the most impact from our services. We're not a high-volume shop, so you never become "a number on the spreadsheet".
Secure Marketplace
Saw.com's global marketplace brings buyers and sellers together for seamless domain transactions. We have more domain data than any other platform, with 250,000+ names listed for sale.
Quality Brokers
Work with our brokers - the brightest minds in the business and stone-cold killers when it comes to buying and selling domains. We speak English, Spanish, Chinese, Russian, and more.
Ready To Give Your Brand a Boost?
Acquire the best domain for your business with Saw.com, one of the world’s leading brokerage firms.
We Have Decades of Experience In Digital Asset Acquisitions
Your domain is one of the most mission-critical purchases your business will ever make. Speak with us
about domain brokerage and work with our experts to acquire your desired assets for the best price –
delivered with an end-to-end service.
Budgeting
Brand Protection
Strategy
Appraisals
Acquisition
Transfer & Registration
Market Research
Contract Negotiation
WE’VE SECURED PREMIUM DOMAINS FOR SOME OF THE WORLD’S BIGGEST BRANDS
WHY WE’RE TRUSTED
We’ve Done Half a BILLION Dollars of Domain Deals
Domain Transactions
1,000s
Domain Name Sales
$550M+
Years of Experience
15+
WHAT PEOPLE SAY
Real Success, Real Clients
"When starting a company, the Saw.com broker service team are some of the first people I call. A memorable
name, and the domain and social handles behind it, creates a huge amount of brand equity right out the gate
— no matter how big or how small your company is. From diapers.com to jet.com (and many more to come!) the
Saw.com domain broker team has helped my companies be seen."
MARC LORE
Serial Entrepreneur
"We have worked with Saw.com since their inception and would not work with anyone else. They help us in all
facets of business - from sales and transfers to renewals, SSL issues and any other matters that may arise.
You will not find a better, more trustworthy business that has maximized our profits."
FUTURE MEDIA ARCHITECTS
WHY CHOOSE US?
Nobody Does Domain Deals Better
Deep Experience
Our team is full of domain experts and our CEO, Jeffrey Gabriel, has contributed to $550m in domain transactions including blockbuster sales like the record-breaking $13m for Sex.com.
Intimate Service
We only work with individuals and corporations who we feel can gain the most impact from our services. We're not a high-volume shop, so you never become "a number on the spreadsheet".
Secure Marketplace
Saw.com's global marketplace brings buyers and sellers together for seamless domain transactions. We have more domain data than any other platform, with 250,000+ names listed for sale.
Quality Brokers
Work with our brokers - the brightest minds in the business and stone-cold killers when it comes to buying and selling domains. We speak English, Spanish, Chinese, Russian, and more.
Ready To Give Your Brand a Boost?
Acquire the best domain for your business with Saw.com, one of the world’s leading brokerage firms.
The Skinny on Umbrella Coverage
What is Umbrella Insurance?
The best way to think of umbrella insurance is as extra coverage in case your insurance maximums on your home or auto are reached and surpassed in an incident. Typically umbrella coverage is only needed or picked up by those who have assets in excess of $100,000 that can be sued [...]
