How Much Does A Claim Affect Home Insurance?

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    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    An insurance company has underwriters who evaluate a risk (home) to see if it conforms to a standard definition of what the company wants to insure.  A claim is seen as a deviation from that standard definition and is therefore scrutinized.  The claim may be disregarded, charged an increased premium or declined.  The underwriter may modify the specification of the policy such as require an increased deductible.  Some insurers reward a "claims free policyholder" and this reward is normally withdrawn when they have a claim.
    Answered on February 19, 2014
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