Will a claim against your homeowners insurance raise your premium

Question

Is it worth submitting a claim for 8k? will my premium jump next year? If so does anyone have an example of how their rates changed?

Brandon Foard · Answer

Any additional information you can provide us? What is the cause of loss? Who decided 8K in damage? How much is your deductible? Lots of information that we don't know from your post.

Generally here in Texas, a single claim shouldn't raise your premium. Multiple occurrences within a few years, however you could probably expect a rate increase. I believe that in general Texas homeowners usually pay a higher rate than some other states simply due to the exposure that Texas has because of its geographical size. We have tornados, hail storms, hurricanes, wildfires, floods...etc. that happen here in Texas EVERY year.

This article by House Logic says that during a survey a single claim in CT could raise rates by +20%.

http://www.houselogic.com/blog/your-insurance-score/can-one-home-insurance-claim-bump-your-annual-premium/

Charles Socci · Answer

You should reach out to your agent, they can give you the most informative, personalized answer.

My agent has always warned me that it would need to be a good sized claim to make it worth it. You expose yourself to being dropped or non-renewed.

If you have not had any claims, i can't imagine it being that bad.

Will a claim against your homeowners insurance raise your premium

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