To claim for not to claim??
Member since 2024 · 8 posts · 0 votes
To claim for not to claim??
Most Popular Reply
Yeah, this can get kind of tricky. A couple years ago, a Costco delivery man came to my primary residence and my dog bit him. The delivery guy told the local animal control. For some stupid reason, I told our insurance about the incident. They marked it down as a "claim," even though the delivery guy never filed suit, asked for money, or sent a demand letter. The insurance ended up non-renewing our policy because of the "claim," and most other insurers wouldn't cover our home because of the claim.
My takeaway was never to tell the insurance about a loss unless you actually do have a loss.
29 Replies
@Chris Wagner- That's just too low an amount to make the claim worth it. Your insurance premiums will rise and eat up any insurance payout you get, unfortunately.
- Member since 2024 · 8 posts · 0 votes1y
Thanks Ryan that’s pretty much what I think. I just wanted to get confirmation from the pros. I appreciate it.
- Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes1yOnce you even talk to your insurance agent about filing a claim, it gets entered into their claim adjustor's database for the whole insurance world to see, even if you decide not to file the claim. You rates go up even if you don't make the claim. I would not discuss a claim unless you intend on filing it.
Quote from @Chris Wagner:
Thanks Ryan that’s pretty much what I think. I just wanted to get confirmation from the pros. I appreciate it.
- Member since 2024 · 8 posts · 0 votes1y
Dang too late. I didn’t know that. Thanks for the info
- 1yOwen RosenBusiness MemberProfessional · Clinton Township, MI · Member since 2015 · 687 posts · 259 votes
Quote from @Ken M.:
Once you even talk to your insurance agent about filing a claim, it gets entered into their claim adjustor's database for the whole insurance world to see, even if you decide not to file the claim. You rates go up even if you don't make the claim. I would not discuss a claim unless you intend on filing it.Quote from @Chris Wagner:
Thanks Ryan that’s pretty much what I think. I just wanted to get confirmation from the pros. I appreciate it.
This isn't necessarily the case
Royal Oath Insurance Group4.9205 Reviews - Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes1yYou can have that discussion with my agent. ;-)
Quote from @Owen Rosen:
Quote from @Ken M.:
Once you even talk to your insurance agent about filing a claim, it gets entered into their claim adjustor's database for the whole insurance world to see, even if you decide not to file the claim. You rates go up even if you don't make the claim. I would not discuss a claim unless you intend on filing it.Quote from @Chris Wagner:
Thanks Ryan that’s pretty much what I think. I just wanted to get confirmation from the pros. I appreciate it.
This isn't necessarily the case
- 1yOwen RosenBusiness MemberProfessional · Clinton Township, MI · Member since 2015 · 687 posts · 259 votes
Quote from @Ken M.:
You can have that discussion with my agent. ;-)Quote from @Owen Rosen:
Quote from @Ken M.:
Once you even talk to your insurance agent about filing a claim, it gets entered into their claim adjustor's database for the whole insurance world to see, even if you decide not to file the claim. You rates go up even if you don't make the claim. I would not discuss a claim unless you intend on filing it.Quote from @Chris Wagner:
Thanks Ryan that’s pretty much what I think. I just wanted to get confirmation from the pros. I appreciate it.
This isn't necessarily the case
Well I'm an agent so that won't be necessary.
Royal Oath Insurance Group4.9205 Reviews Yeah, this can get kind of tricky. A couple years ago, a Costco delivery man came to my primary residence and my dog bit him. The delivery guy told the local animal control. For some stupid reason, I told our insurance about the incident. They marked it down as a "claim," even though the delivery guy never filed suit, asked for money, or sent a demand letter. The insurance ended up non-renewing our policy because of the "claim," and most other insurers wouldn't cover our home because of the claim.
My takeaway was never to tell the insurance about a loss unless you actually do have a loss.
- Insurance Agent · Member since 2020 · 178 posts · 76 votes1y
Quote from @Ken M.:
Once you even talk to your insurance agent about filing a claim, it gets entered into their claim adjustor's database for the whole insurance world to see, even if you decide not to file the claim. You rates go up even if you don't make the claim. I would not discuss a claim unless you intend on filing it.Quote from @Chris Wagner:
Thanks Ryan that’s pretty much what I think. I just wanted to get confirmation from the pros. I appreciate it.
You can talk to your agent without filing a claim. Once a claim is entered and filed to the carrier and an adjuster is assigned is when it's reported if a claim if paid out or not. Sounds like your agent FILED the claim and didn't advise you on what to do.
- Insurance Agent · Member since 2020 · 178 posts · 76 votes1y
Quote from @Chris Wagner:
Hello everyone,
I have a property that had sewer damage that costs me $3300. I have a $1000 deductible for sewer. The property is in Bristol TN close to where Hurricane Helene hit. Luckily, it didn't damage my property.
The way it's going with insurance companies, should I eat the $2300 or put in a claim? I live in California and they are looking for any way they can drop your insurance. I wanted to get your take for the Bristol TN area.
Thanks in advance
Chris
Your biggest issue would be having available options after a claim. I agree it's too small in my opinion as it would take away flexibility at renewal. Many carriers won't take new business on a risk that has a water claim within 2-3 years. So if your rate did go up it would limit you on being able to shop. Hope this helps
- Member since 2024 · 8 posts · 0 votes1y
Yes I have decided not to put in the claim. Thank you for your input
- Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes1y
Quote from @Tony Wilcox:
Quote from @Ken M.:
Once you even talk to your insurance agent about filing a claim, it gets entered into their claim adjustor's database for the whole insurance world to see, even if you decide not to file the claim. You rates go up even if you don't make the claim. I would not discuss a claim unless you intend on filing it.Quote from @Chris Wagner:
Thanks Ryan that’s pretty much what I think. I just wanted to get confirmation from the pros. I appreciate it.
You can talk to your agent without filing a claim. Once a claim is entered and filed to the carrier and an adjuster is assigned is when it's reported if a claim if paid out or not. Sounds like your agent FILED the claim and didn't advise you on what to do.
Of course you can talk to your agent, with general questions.
My agent has 30 years of experience doing thousands of investor's policies. In a training conference, that was his instruction which I will stick too. But once damage happens and you ask your qualified and capable agent for advice on claim information, they enter that inquiry into the system. Thanks
- Insurance Agent · Member since 2020 · 178 posts · 76 votes1y
Quote from @Ken M.:
Quote from @Tony Wilcox:
Quote from @Ken M.:
Once you even talk to your insurance agent about filing a claim, it gets entered into their claim adjustor's database for the whole insurance world to see, even if you decide not to file the claim. You rates go up even if you don't make the claim. I would not discuss a claim unless you intend on filing it.Quote from @Chris Wagner:
Thanks Ryan that’s pretty much what I think. I just wanted to get confirmation from the pros. I appreciate it.
You can talk to your agent without filing a claim. Once a claim is entered and filed to the carrier and an adjuster is assigned is when it's reported if a claim if paid out or not. Sounds like your agent FILED the claim and didn't advise you on what to do.
Of course you can talk to your agent, with general questions.
My agent has 30 years of experience doing thousands of investor's policies. In a training conference, that was his instruction which I will stick too. But once damage happens and you ask your qualified and capable agent for advice on claim information, they enter that inquiry into the system. Thanks
Ken, I am sorry but that is just wrong. It's only considered a claim against you if the claim if fully filed to the carrier. This is not a debate, I haven't been in the business 30 years, but 10+ along with thousands of investor policies as well. Just giving you the truth.
- Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes1y
Quote from @Tony Wilcox:
@Owen Rosen:
Quote from @Ken M.:
Quote from @Tony Wilcox:
Quote from @Ken M.:
Once you even talk to your insurance agent about filing a claim, it gets entered into their claim adjustor's database for the whole insurance world to see, even if you decide not to file the claim. You rates go up even if you don't make the claim. I would not discuss a claim unless you intend on filing it.Quote from @Chris Wagner:
Thanks Ryan that’s pretty much what I think. I just wanted to get confirmation from the pros. I appreciate it.
You can talk to your agent without filing a claim. Once a claim is entered and filed to the carrier and an adjuster is assigned is when it's reported if a claim if paid out or not. Sounds like your agent FILED the claim and didn't advise you on what to do.
Of course you can talk to your agent, with general questions.
My agent has 30 years of experience doing thousands of investor's policies. In a training conference, that was his instruction which I will stick too. But once damage happens and you ask your qualified and capable agent for advice on claim information, they enter that inquiry into the system. Thanks
Ken, I am sorry but that is just wrong. It's only considered a claim against you if the claim if fully filed to the carrier. This is not a debate, I haven't been in the business 30 years, but 10+ along with thousands of investor policies as well. Just giving you the truth.
@Tony Wilcox: Do me a favor and listen to the largest Allstate Insurance Agent in Arizona and what he says
Skyrocketing Insurance Costs Threaten to Shatter Housing Markethttps://www youtube com/watch?v=SI3d5MrZDww
insert periods appropriately ie .youtube.
Forward to minute 32:30
Quote: (What he says)"And nowadays, it’s so important not to use your insurance policy like a warranty because you make a call, they’re loggin it in as if they're filing a claim, it’s zero paid out, now you don’t have insurance anymore at the next renewal"
- Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes1y.
Quote from @Tony Wilcox:
Quote from @Ken M.:
Quote from @Tony Wilcox:
Quote from @Ken M.:
Once you even talk to your insurance agent about filing a claim, it gets entered into their claim adjustor's database for the whole insurance world to see, even if you decide not to file the claim. You rates go up even if you don't make the claim. I would not discuss a claim unless you intend on filing it.Quote from @Chris Wagner:
Thanks Ryan that’s pretty much what I think. I just wanted to get confirmation from the pros. I appreciate it.
You can talk to your agent without filing a claim. Once a claim is entered and filed to the carrier and an adjuster is assigned is when it's reported if a claim if paid out or not. Sounds like your agent FILED the claim and didn't advise you on what to do.
Of course you can talk to your agent, with general questions.
My agent has 30 years of experience doing thousands of investor's policies. In a training conference, that was his instruction which I will stick too. But once damage happens and you ask your qualified and capable agent for advice on claim information, they enter that inquiry into the system. Thanks
Ken, I am sorry but that is just wrong. It's only considered a claim against you if the claim if fully filed to the carrier. This is not a debate, I haven't been in the business 30 years, but 10+ along with thousands of investor policies as well. Just giving you the truth.
Can you prove that isn't being done? Why would my agent lie to me?
Since you are not my agent, I wouldn't worry about it if I were you. Tell your clients that which you choose to tell them. - Insurance Agent · Member since 2020 · 178 posts · 76 votes1y
I talk to clients weekly about possible claim situations. That is one of the points of having an agent. By just talking to them doesn't mean a claim is filed. I am just trying to educate you on the process. If your agent files a claim everytime you just want to talk to them about a situation where there might be a claim, and not sure if you even want to claim it, I would consider that a problem if I were you.
- Insurance Agent · Member since 2020 · 178 posts · 76 votes1y
That's great Ken, but no need to watch that video. We will just have to agree to disagree here. Also I wouldn't stay with any agent that does this.
- Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes1yLikewise, agree to disagree. Also, I wouldn't go with any agent that wouldn't watch what a more experienced agent has to say. It's too important of an issue :-) No worries.
Quote from @Tony Wilcox:
That's great Ken, but no need to watch that video. We will just have to agree to disagree here. Also I wouldn't stay with any agent that does this.
- 1yOwen RosenBusiness MemberProfessional · Clinton Township, MI · Member since 2015 · 687 posts · 259 votes
Quote from @Ken M.:
Likewise, agree to disagree. Also, I wouldn't go with any agent that wouldn't watch what a more experienced agent has to say. It's too important of an issue :-) No worries.Quote from @Tony Wilcox:
That's great Ken, but no need to watch that video. We will just have to agree to disagree here. Also I wouldn't stay with any agent that does this.
Captive agents like Allstate actually have very limited experience. They reside in a world where Allstate keeps the training wheels on at all times. They can't even write commercial insurance for the most part.
Royal Oath Insurance Group4.9205 Reviews - Insurance Agent · Member since 2020 · 178 posts · 76 votes1y
Quote from @Ken M.:
Likewise, agree to disagree. Also, I wouldn't go with any agent that wouldn't watch what a more experienced agent has to say. It's too important of an issue :-) No worries.Quote from @Tony Wilcox:
That's great Ken, but no need to watch that video. We will just have to agree to disagree here. Also I wouldn't stay with any agent that does this.
Ken I am part of many insurance groups in the midwest, along with being an agency of the year in 2024 that was selected by the carriers themselves, out of thousands of agencies. So I think I know what I am talking about.
The only thing that might be correct in what that Allstate agent said is it could be an Allstate ONLY thing. However; a claim being filed JUST to talk to an agent on if you want to file it is not an insurance industry wide thing.
Also Travelers has a whole hot line to call if the client should file a claim. Unless you actually file the claim with them it is not filed. Hope that helps.
- 1yJason BottPro MemberInsurance Agent · Nationwide · Member since 2014 · 2k+ posts · 1k+ votes
Quote from @Ken M.:
Likewise, agree to disagree. Also, I wouldn't go with any agent that wouldn't watch what a more experienced agent has to say. It's too important of an issue :-) No worries.Quote from @Tony Wilcox:
That's great Ken, but no need to watch that video. We will just have to agree to disagree here. Also I wouldn't stay with any agent that does this.
One key point often left out of the discussion is whether you have a personal or commercial insurance policy. This distinction is crucial.
Most personal lines insurance carriers and agents—such as Allstate—are required to report claim inquiries to CLUE (Comprehensive Loss Underwriting Exchange). CLUE, managed by LexisNexis, is a database that tracks claims history, which insurers use for rating and underwriting policies. Nearly all home and auto insurance carriers rely on this database.
However, if you have a commercial policy, claims are not reported to CLUE. Properties with one to four units can be insured under either a commercial or personal lines policy, depending on the carrier and their underwriting guidelines.
- Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes1y
Quote from @Jason Bott:
Quote from @Ken M.:
Likewise, agree to disagree. Also, I wouldn't go with any agent that wouldn't watch what a more experienced agent has to say. It's too important of an issue :-) No worries.Quote from @Tony Wilcox:
That's great Ken, but no need to watch that video. We will just have to agree to disagree here. Also I wouldn't stay with any agent that does this.
One key point often left out of the discussion is whether you have a personal or commercial insurance policy. This distinction is crucial.
Most personal lines insurance carriers and agents—such as Allstate—are required to report claim inquiries to CLUE (Comprehensive Loss Underwriting Exchange). CLUE, managed by LexisNexis, is a database that tracks claims history, which insurers use for rating and underwriting policies. Nearly all home and auto insurance carriers rely on this database.
However, if you have a commercial policy, claims are not reported to CLUE. Properties with one to four units can be insured under either a commercial or personal lines policy, depending on the carrier and their underwriting guidelines.
.
Thank you @Jason Bott:
I don't think @Tony Wilcox: has a CLUE about that, but that is what my agent was referencing. Since it was a presentation to a couple of hundred investors, I wouldn't be able to say which kind of insurance each investor has, I just know when I talked to him afterwards, he confirmed what I heard him say.
But, it puzzles me why an insurance agent wouldn't want to watch a short clip and learn from other agents. Maybe some agents are just on BP to try to pick up some business, not to grow and become a better agent? Some client is going to lose a lot of money because some agents just don't know and aren't interested in finding out. That's not the kind of agent I can refer people to.
(THIS IS A RHETORICAL QUESTION/COMMENT! :-) - 1yOwen RosenBusiness MemberProfessional · Clinton Township, MI · Member since 2015 · 687 posts · 259 votes
Quote from @Ken M.:
Quote from @Jason Bott:
Quote from @Ken M.:
Likewise, agree to disagree. Also, I wouldn't go with any agent that wouldn't watch what a more experienced agent has to say. It's too important of an issue :-) No worries.Quote from @Tony Wilcox:
That's great Ken, but no need to watch that video. We will just have to agree to disagree here. Also I wouldn't stay with any agent that does this.
One key point often left out of the discussion is whether you have a personal or commercial insurance policy. This distinction is crucial.
Most personal lines insurance carriers and agents—such as Allstate—are required to report claim inquiries to CLUE (Comprehensive Loss Underwriting Exchange). CLUE, managed by LexisNexis, is a database that tracks claims history, which insurers use for rating and underwriting policies. Nearly all home and auto insurance carriers rely on this database.
However, if you have a commercial policy, claims are not reported to CLUE. Properties with one to four units can be insured under either a commercial or personal lines policy, depending on the carrier and their underwriting guidelines.
.
Thank you @Jason Bott:
I don't think @Tony Wilcox: has a CLUE about that, but that is what my agent was referencing. Since it was a presentation to a couple of hundred investors, I wouldn't be able to say which kind of insurance each investor has, I just know when I talked to him afterwards, he confirmed what I heard him say.
But, it puzzles me why an insurance agent wouldn't want to watch a short clip and learn from other agents. Maybe some agents are just on BP to try to pick up some business, not to grow and become a better agent? Some client is going to lose a lot of money because some agents just don't know and aren't interested in finding out. That's not the kind of agent I can refer people to.
(THIS IS A RHETORICAL QUESTION/COMMENT! :-)@Ken M. What is it you think @Tony Wilcox or I need to learn? We're going to watch a Youtube video and realize that it turns out every conversation we've ever actually had about a potential claim situation was secretly reported to a claims database without our knowledge? It's really bizarre that you're arguing with actual agents that have real world experience because of a conversation you had one time. Is it possible both sides are "right" in our given worlds? I guess must be misremembering the last 15 years of my career.
Beyond that, I come across dead wrong advice from agents (and especially non-agents) in this forum ALL THE TIME.
Also, no, I can't learn anything from an Allstate agent. Different worlds. And I've been on the captive side so I know.
This isn't an issue about CLUE and databases. It comes down to whether an agent can have a discussion with a client without reporting to the insurance company. In the real world it happens all the time. @Jason Bott - do you disagree?
Royal Oath Insurance Group4.9205 Reviews - Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes1yThere is a classy way to say you are superior to everyone, but you haven't found it.
Quote from @Owen Rosen:
Quote from @Ken M.:
Quote from @Jason Bott:
Quote from @Ken M.:
Likewise, agree to disagree. Also, I wouldn't go with any agent that wouldn't watch what a more experienced agent has to say. It's too important of an issue :-) No worries.Quote from @Tony Wilcox:
That's great Ken, but no need to watch that video. We will just have to agree to disagree here. Also I wouldn't stay with any agent that does this.
One key point often left out of the discussion is whether you have a personal or commercial insurance policy. This distinction is crucial.
Most personal lines insurance carriers and agents—such as Allstate—are required to report claim inquiries to CLUE (Comprehensive Loss Underwriting Exchange). CLUE, managed by LexisNexis, is a database that tracks claims history, which insurers use for rating and underwriting policies. Nearly all home and auto insurance carriers rely on this database.
However, if you have a commercial policy, claims are not reported to CLUE. Properties with one to four units can be insured under either a commercial or personal lines policy, depending on the carrier and their underwriting guidelines.
.
Thank you @Jason Bott:
I don't think @Tony Wilcox: has a CLUE about that, but that is what my agent was referencing. Since it was a presentation to a couple of hundred investors, I wouldn't be able to say which kind of insurance each investor has, I just know when I talked to him afterwards, he confirmed what I heard him say.
But, it puzzles me why an insurance agent wouldn't want to watch a short clip and learn from other agents. Maybe some agents are just on BP to try to pick up some business, not to grow and become a better agent? Some client is going to lose a lot of money because some agents just don't know and aren't interested in finding out. That's not the kind of agent I can refer people to.
(THIS IS A RHETORICAL QUESTION/COMMENT! :-)@Ken M. What is it you think @Tony Wilcox or I need to learn? We're going to watch a Youtube video and realize that it turns out every conversation we've ever actually had about a potential claim situation was secretly reported to a claims database without our knowledge? It's really bizarre that you're arguing with actual agents that have real world experience because of a conversation you had one time. Is it possible both sides are "right" in our given worlds? I guess must be misremembering the last 15 years of my career.
Beyond that, I come across dead wrong advice from agents (and especially non-agents) in this forum ALL THE TIME.
Also, no, I can't learn anything from an Allstate agent. Different worlds. And I've been on the captive side so I know.
This isn't an issue about CLUE and databases. It comes down to whether an agent can have a discussion with a client without reporting to the insurance company. In the real world it happens all the time. @Jason Bott - do you disagree?
- Insurance Agent · Member since 2020 · 178 posts · 76 votes1y
This is my last comment on the matter. I can't believe I spent this much time debating something that is well known in the industry.
You are not required to report claim inquiries to the carrier. The carrier reps themselves (Travelers, Nationwide, Progressive, SafeCo, and many more) who come into my office all say the same thing. I am not sure where this info is coming from. As mentioned before, Travelers even has a hotline if you are a current carrier that you can call, they will look at your policy and tell you if you think you should file a claim. If you decided not to, they will not file the claim on the clients behalf. No harm no foul. If this was required to be reported to CLUE don't you think Travelers would be reporting these claims when people call the carrier directly?
Ken, the only clients losing money are with agents who report every claim inquiry to the carrier costing their clients money for no reason on $0 claims when the client didn't even want to file a claim...
- Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes1ySince you obviously are biased and make money selling insurance, you will use whatever perspective earns you the most money.
Quote from @Tony Wilcox:
This is my last comment on the matter. I can't believe I spent this much time debating something that is well known in the industry.
You are not required to report claim inquiries to the carrier. The carrier reps themselves (Travelers, Nationwide, Progressive, SafeCo, and many more) who come into my office all say the same thing. I am not sure where this info is coming from. As mentioned before, Travelers even has a hotline if you are a current carrier that you can call, they will look at your policy and tell you if you think you should file a claim. If you decided not to, they will not file the claim on the clients behalf. No harm no foul. If this was required to be reported to CLUE don't you think Travelers would be reporting these claims when people call the carrier directly?
Ken, the only clients losing money are with agents who report every claim inquiry to the carrier costing their clients money for no reason on $0 claims when the client didn't even want to file a claim...
A sample of loss for a client:
they have an roof that has a small leak, they don't need a new roof, just some flashing around the chimney has been damaged. The agent talks him out of it because it goes against the agent's best interest to file the claim and it's a simple, inexpensive fix. The repair isn't made, the roof inspection isn't done. Or, a carrier won't renew on a policy or substantially raises the premium, the homeowner can't afford the increase, loses insurance, the lender calls the loan due for lack of insurance. All because of an inquiry on a minor roof problem.
However, since the inquiry gets filed, when the policy renews, the carrier substantially raises the premium (this is going on all over the place) or there is a more severe problem later and they deny the claim based on "had previous damage" or the carrier won't even renew.
Every insurance agent/company should have big sign posted in front that states
"We're an insurance company, we are not here to protect your interest or to make you whole. We are in business to make money. It is our goal to make as much money as we can get away with.
That would be "Truth in Advertising". Do people benefit from insurance, sure, but it is lop sided in favor of the insurance company.
Any insurance agent that claims that doesn't happen or isn't aware of it, is either dishonest or too inexperienced to trust your homeowner's insurance to.
- Insurance Agent · Member since 2020 · 178 posts · 76 votes1y
Ken, I know I said I was done but I have to educate you again. Also it doesn't affect me at all if a client files a claim. In fact if I wanted more premium, wouldn't I encourage higher prices for filing claims???? This is how it actually works....
Client calls in. Hey, I might have a leak in my roof.... I reply saying ok lets make sure to mitigate any future damage. Have you had a roofer out? No, ok please call one and if you don't have one I have a few resources. We want to make sure no more damage occurs. They get the roofer out right away to assess. They do this for free btw so no call to the carrier about this.
Then the roofer goes out to the house and gives us a breakdown on what is going on. Oh there is no shingle damage, or there is. Ok, what is the estimate to fix the home? Sometimes it's yes they need a new roof, then ok lets file the claim. Sometimes the roofer says well it's only like $4,000 in damage for me to fix.
That's when I talk to the client and say ok, your deductible is $2,500 so if the total amount to fix is $4,000 we can file for that and you would get the difference. Or if you didn't want that claim on your record since only 4k to fix, and wanted to pay out of pocket of course that is an option. I lay out what would happen to their policies at renewal if they do file said claim. I never say they will be dropped, because for one there's no way to know that until renewal.
If the client fixes themself and doesn't file a claim, then there is no claim registered on their policy. This is how it's done Ken. That is how you protect the client from malicious $0 claims counting against them. The client gets every possible option to make the decision themselves depending on their situation. I have never talked a client out of a claim, they get educated and presented options.
Also carriers don't just drop people automatically for $0 claims. It does happen but many carriers also don't count $0 claims against people.
Have a good day Ken and good luck.
- Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes1y.
Quote from @Tony Wilcox:
Ken, I know I said I was done but I have to educate you again. Also it doesn't affect me at all if a client files a claim. In fact if I wanted more premium, wouldn't I encourage higher prices for filing claims???? This is how it actually works....
Client calls in. Hey, I might have a leak in my roof.... I reply saying ok lets make sure to mitigate any future damage. Have you had a roofer out? No, ok please call one and if you don't have one I have a few resources. We want to make sure no more damage occurs. They get the roofer out right away to assess. They do this for free btw so no call to the carrier about this.
Then the roofer goes out to the house and gives us a breakdown on what is going on. Oh there is no shingle damage, or there is. Ok, what is the estimate to fix the home? Sometimes it's yes they need a new roof, then ok lets file the claim. Sometimes the roofer says well it's only like $4,000 in damage for me to fix.
That's when I talk to the client and say ok, your deductible is $2,500 so if the total amount to fix is $4,000 we can file for that and you would get the difference. Or if you didn't want that claim on your record since only 4k to fix, and wanted to pay out of pocket of course that is an option. I lay out what would happen to their policies at renewal if they do file said claim. I never say they will be dropped, because for one there's no way to know that until renewal.
If the client fixes themself and doesn't file a claim, then there is no claim registered on their policy. This is how it's done Ken. That is how you protect the client from malicious $0 claims counting against them. The client gets every possible option to make the decision themselves depending on their situation. I have never talked a client out of a claim, they get educated and presented options.
Also carriers don't just drop people automatically for $0 claims. It does happen but many carriers also don't count $0 claims against people.
Have a good day Ken and good luck.
The more you respond, the more you embarrass yourself. I'd call it good and let it go.
No harm, no foul, we agree to disagree and I recommend clients to someone who understands risk.
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