When To Make A Homeowners Insurance Claim?

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   David G. Pipes, CLU®, RICP®

   Business Development Officer, T.D. McNeil Insurance Services, Fresno, California

   Make a claim when the recovery is more than a potential increase in subsequent premiums.  Basically I advise against making petty claims that come close to the deductible on the policy.  Many companies provide substantial discounts for being “claims free.”  Loss of that discount should be computed.  Other companies, however, lower the deductible for years without a claim.  So you need to have a clear idea of the recovery you anticipate before filing a claim.  If it is a liability claim, never hesitate to file the claim.

   Answered on June 10, 2014

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