How do you know when to file a claim??? So many inquiries come through the office asking if one thing or another is covered. The first test is, does the damage that has occurred even meet your deductible? I am a avid believer in high deductibles, and most policy’s carry $1,000 for a very good reason… so lets say the damage is in excess of $1,000 but just barely, there is not only the deductible to consider but the loss of the claim free discount (15%) for four years. So on a homeowner’s policy that the annual premium is $700 the loss of the discount will be a total of $420. So my rule of thumb is $2,000 a very minimum to even consider placing a claim on your homeowner’s policy. Then there is the consideration of is this loss even covered… with my company the rules are set in the homeowners policy, however if it isn’t sudden and accidental there is a high probability it isn’t covered. The policy is not designed to cover, slow, gradual, wear and tear, or maintenance. One last thing to consider is your homeowners policy is really designed to provide coverage in the event of a large loss not the small ones… if there is more than one loss in a three year period there is high likelihood of significant rate changes… we pride ourselves in this office to know the products we sell inside and out.. If there is a question of coverage please ask us! If we do not know the answer we will find it! Also know that calling in after hours or claims does open a claim id number and even if there is $0 paid out in a claim it is very likely to loose your claim free discount.. it is an inquiry…
(katherinehood@allstate.com)