Be it as it may, not all damage that happens to your homestead needs the attention of the insurance company. Actually, it is far more economical to avoid filing an insurance claim for petty damages to your home. Needless to say, every claim you make can potentially increase your premiums. Hence, you should be more careful when you are planning to file a claim. There are quite a number of companies for house insurance such as Keltner Insurance in Memphis, TN.
When should you file an insurance claim?
- If it is something precious to you
Insurance covers are mostly for what we cannot afford to lose such as the valuables that you cannot easily replace. These could include excessive damage to your house or theft.
- Cost effective replacement
It is expedient to assess the cost of replacing the damage. If the total cost is supposedly less than the deductible amount, you should desist from making an insurance claim.
- If you can afford it, don’t file a claim
Certainly, the insurance company will pay you less. If you realize that you can comfortably afford the repair yourself, do not make the claim.
- Avoid multiple claims
Filing several claims within a short period of time will increase your premiums tremendously. You don’t want to be in the high-risk category of your insurance company.
What you need to know before filing a home insurance claim
- Is the claim covered?
Do not file a claim for anything if you do not have coverage for these claims. You should ensure that whatever claim you are filing should be covered by your home insurance company.
- There is a potential increase in premiums
Filing a claim can potentially increase your premiums tremendously. If you are not prepared to handle an additional increase in premiums then you can reconsider your stand on filing a claim.
For more information about house insurance, contact Keltner Insurance in Memphis, TN or read more about house insurance from their blog.