May offer a discount on your policy if you haven’t filed a claim in three to five years.
You could save anywhere from $200 to $500 per policy period, but if you file a claim, you risk losing that discount until you’ve been claim-free for the required number of years.
To put it another way, you might end up paying more money in the long run for a smaller claim.
After you file a claim, insurance companies may raise your premium because they believe you will file more claims in the future.
If you had just replaced or fixed the items yourself, you may have to pay more out of pocket in premium increases.
If you have made a lot of small claims in a short period of time, the insurance company may also decide not to renew your policy. Additionally, this could result in a larger and more costly issue.
