To File A Claim Or Not To File A Claim
As a homeowner, renter or business owner it is important to fully understand your insurance policy. Every policy is different, with exclusions and named perils. Being knowledgeable about your insurance as much as possible will help you in deciding if it is necessary for you to file a claim in the event your home or place of business suffers water damage. Here are some things to consider before filing an insurance claim:
If the total amount of repairs is less than your deductible, avoid filing, especially if other claims have been filled in the last ten years.
If it is an uncovered loss, you are responsible for the mitigation and repairs, be aware of what is covered under your insurance.
Claim frequency could affect you in the form of non-renewal for being a high-risk.
If damage occurs due to lack of maintenance that is your own responsibility, do not submit a claim. But remember, continuously maintaining your home or business can get you better premiums in the future.
Ultimately, being aware of all exclusions and coverage limits is important by knowing your options in which direction you need to go to mitigate and repair damage that occurs on your home or business.