If I wallet a claim on my homeowner's insurance will my premiums increase?

Hi. We recently had a wind/thunder/rain storm (North Texas) which blew down the blockade around the yard. My deductible is $2200. Estimate to replace the fence is $3750. I'd approaching to file a claim with my insurance company but I'm afraid my premiums will increase if I do. I talk to my agent and he said if I file a single claim my premiums WILL increase. Does anyone have information that this is true? It seem ridiculous to me that I carry insurance if I can't use it without paying MORE to pass the same insurance. Please advise.
Answers:
No doubt the easiest passageway to get insurance quotes is on the web.
Why would you misuse your time on the phone calling around?
the last time i needed quotes on insurance i used one of these comparison sites and it was great.
this is the site i used and it be quick like smaller amount than 5 mins.
The last thing I want to do is listen to elevator music while waiting for a salesman.
Anyway I get good quotes and ended up good money so I was happy.
So shop around and compare quotes which is effortless on the net.
Good starting point is at this site.

http://insurance.deal4-you.com

Good luck.
yes it will go up
Premium go up? You'll be lucky if they don't drop you.

Insurance is the biggest legally recognized scam I can think of. Before I go bad on a tirade ...

If you file a claim, yes your premium can increase. It's called "Risk-Based" pricing. Just approaching when you apply for a loan at the bank... If your credit history is bad you go and get a bad rate. For insurance, homeowners, auto ... even life & strength .. if you have a history of making them pay or are a highly developed risk, they will charge you more. Source(s): I've been F'd by health insurance (cancer) as economically as homeowners (Hurricane). When I was diagnosed with Cancer my robustness insurance (for just me) shot up to over $500/mo and that was through the "state" and the singular company that would insure me. I actually had to verbs a string with a Senator I used to work for to get that.

Don't ask almost the Hurricane. We paid for years and they not only enjoy stiffed us but then dropped us.
And I stayed at a Holiday Inn Express last dark
I would folder the claim. You are talking over $1500.00 more out of pocket expense to replace the fence above the $2200.00 deductible. I do not regard as they can raise your premiums that much for this claim. If it was beneath $500.00 more then my deductible I wouldn't file a claim.
yes it will
Research the regulations at this website:
http://www.tdi.state.tx.us/consumer/cb02…
It appears that they can only make higher your premiums at renewal but I see no mention of it being a blanket application policy (applying to all policy holders equally). Look at it this channel, if you were in Florida you would be overjoyed to have insurance!
Of course it is true. Home Owners insurance is truly just to be used to actually replace your house. If you file a claim (any nature of insurance) that takes money away from the company they are going to raise your rates to reclaim that money over time. Trust me, if your agent tell you that they are going to go up, they will.
Well, YES, your AGENT knows the data of your policy!! Unless you have a rate guarantee, or some other oddball improvement that doesn't increase your policy for claims, it goes up!

I would NEVER file a homeowners claim for $1500. $5,000 is my personal threshhold (and I'm contained by TX, too). Because of that, I carry a $1,000 deductible, and of course, a lovely 3% weave deductible.

Homeowners policies are for large, catastrophic claims - like that $50,000 kitchen fire, or a tornado blowing stale the roof. Not the $1500 water damage, or interweave knocked over the fence item. So if you DO put in a small claim, it's going to penalize you. Source(s): agent, 21+ years
This is probably possible, but to be positively certain, you might contact your company directly. I'm sure this varies from state to state, but within Ohio the insurance companies I have had through independent agencies hold never increased my premiums as a result of any claims. In Ohio & the companies I have worked for within independent agencies hold never had rates increase due to claims. Repeated claims within home policies could result within the company placing higher deductibles on the policy or refusal to renew a policy, or also may require repairs or replacements of things to prevent additional claims.

I'd check directly beside your insurance company for specifics in your situation.
You'll have to ask your agent. They'll usually tell you until that time actually filing the claim.

In broad though, they will care more (and charge more) if you have a claim history beside internal water damage, mold, and deterioration. Freak weather relateon cloud ninems should be OK. But... I don't know the market in Texas or the Insurance Regs near. So this is just an "in general".
With all the discouraging weather lately and all the claims, you will probably get an increase. I know of population that won't claim on things they can handle, as they don't know if they will have an increase. Hard to recount. Maybe you can discuss this with your agent.
bettyk


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