RICHMOND, Va. (WWBT/WXIX) - The problem with filing insurance claims is that certain kinds of claims - or too many of them - will mean your premiums go up, or you could even lose your coverage altogether!
The main problem with filing claims for fairly minor damage means you’re in a bad position if something big happens, and you really do need to file a claim.
Insurance companies expect claims on homeowners’ policies only about once every ten years!
Filing yet another claim could mean your rates rise for years, or you could even be dropped from your policy.
Don’t file a claim if the cost to fix the problem won’t exceed your deductible. Otherwise, not only will you not get a penny for repairs, but the claim will go on your record—and could mean higher premiums!
Another time you should not file a claim is if the damage is related to a maintenance issue you should have fixed earlier, like a leaky roof or faucet. Not only will they likely not cover the claim, but they could cancel your coverage.
And filing a claim for something your insurance doesn’t cover could also cost you your policy, like a dog bite from certain breeds, or an injury on a trampoline! So make sure you know about all of those exclusions before you file a claim!
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