It’s not wise to take filing a claim lightly, given the consequences.
Evaluate your situation’s potential costs and benefits before filing. Here’s while documenting a case might be advantageous:
As previously stated, having more than two claims within the previous five years can make it difficult to insure your home.
If the amount is significant enough to warrant the potential ding on your CLUE report, it may be worthwhile to file a claim even if you haven’t filed any claims or have filed fewer than one.
The best way to approach homeowners insurance is as a resource for major issues or catastrophic events.
If that describes your situation, it probably makes sense to file a claim, particularly if the value of the claim is significantly higher than your deductible.
If all else fails, find out if it’s smart to present a case in your circumstance.
It may not be worthwhile to file a claim if you have previously done so or only have a minor issue.
When you file a claim,
It is added to your CLUE report, a tool that insurance companies use to decide whether to approve your policy or how much to charge you for it.
Finding affordable insurance or insurers willing to take you on becomes more difficult the more claims you have.
