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Jonathan Pflueger
  • Rental Property Investor
  • Ben Lomond, CA
328
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336
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So Much Fear Around Insurance Claims: Is a rate raise automatic?

Jonathan Pflueger
  • Rental Property Investor
  • Ben Lomond, CA
Posted Feb 22 2024, 07:51

Many believe and advocate that filing a homeowners insurance claim will lead to higher rates, discouraging claims altogether. This subjective and heavily pushed idea seems driven by a real sense of fear. I mean, why pay for a service and not utilize it when you need it? Filing insurance claims is the cost of doing business in real estate and if you can’t afford a rate raise maybe the investment you own is not really a true investment…

What have been your experiences with this? At what cost threshold do you decide to file a claim? If you did file a claim was your insurance automatically raised astronomical amounts?

I have filed multiple claims across several properties and some have more than one claim (all within 1-2 years) and I have not had any rate adjustments. Is my experience normal?

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