Has one of our infamous Houston storms torn the roof off your house? Or maybe you came home to discover a burst pipe flooded your kitchen. Whatever the case, you’re wondering whether it’s worth it to file a home insurance claim.
Below, an attorney from McLaurin Law, PLLC, explains five reasons to file a homeowners’ insurance claim and some situations where it would be better not to file a claim.
Five Good Reasons To File a Homeowners’ Insurance Claim
If a tree fell on your house, it’s clearly worth filing a home insurance claim. But what if the neighborhood kids broke your window while playing ball? Is it worth making a claim for such a small amount of damage?
It’s tough to know whether making a claim outweighs the potential premium increase. We’ll go over a few good reasons to file a home insurance claim next.
1. You’ve Had To Make Temporary Repairs
You may be reluctant to make repairs because you think insurance will deny your claim if you do. However, insurance companies understand that you can’t wait to make certain repairs in some cases (a burst pipe is spraying water into your living room, for example).
Most home insurance companies have no issue with you making temporary repairs and will even reimburse you for the expense. Additionally, temporary repairs might count toward your deductible if you have a covered loss.
2. Your Home Is Unlivable
Making a claim is a good idea if your home is unlivable because of mold or significant storm damage. Such damage could cost tens of thousands to fix, and you probably don’t have that much cash just lying around. If you have a covered loss, home insurance will cover the repairs, as well as the cost of a hotel and additional living expenses while workers repair your home.
3. Someone Burglarized Your House
Homeowners’ insurance doesn’t only cover storm damage. It also protects you if someone breaks in, steals your belongings, and/or vandalizes your home.
Your insurance may pay the current fair market value for stolen possessions. Photos of the stolen items can help the insurance company evaluate their value.
4. The Cost To Repair or Replace Exceeds Your Deductible
Before filing a home insurance claim, weigh the cost of the repairs against your deductible. If the cost to repair damage to your home greatly exceeds your deductible, it’s smart to make a claim.
5. You Haven’t Filed a Claim in the Past Three Years
The frequency with which you make claims impacts your insurance premiums. The more claims you’ve made in the past few years, the higher your premiums will be.
If you haven’t filed a claim in the past three years, your premiums will probably only increase modestly. But if you’re a serial claimant, your monthly premiums could jump by hundreds of dollars.
When Should You Not File a Claim?
It’s not always worth it to make a home insurance claim. Generally, you should pay for repairs out of pocket when:
- The cost of the repairs won’t exceed your deductible.
- You didn’t do proper maintenance on your home. Insurance probably won't cover the repairs if your fence or roof is destroyed because you didn’t perform regular maintenance.
- You’ve made a claim within the past three years.
Need Help Filing a Home Insurance Claim? Call McLaurin Law, PLLC
If you’re having trouble deciding whether to file a home insurance claim, an attorney from McLaurin Law, PLLC, can help you weigh the pros and cons. And if insurance is giving you the runaround, we’ll fight hard to achieve a fair settlement amount for you.
Call McLaurin Law, PLLC, at (713) 528-8012 or contact us online for a consultation.
