When to File a Homeowners Insurance Claim


Owning a home comes with a variety of benefits and dangers. To protect against these dangers, you will need a reliable homeowners insurance policy and know when is the best time to file a claim.a large lawn in front of a house
In general, you should file a homeowners insurance claim when:

Damages Exceed Deductible

When you file a claim, your deductible is how much you must pay out of pocket before receiving compensation for damages to your home. For example, say your home insurance deductible is $1,000. A bad hailstorm causes $3,000 worth of damage to your home. Since the damages are substantially more than the cost of your deductible, you will likely want to file a claim for the remaining $2,000.

Damages are Covered

It is important to only file a homeowners insurance claim when you know it is covered. Many home insurance policies have limitations when it comes to coverage. A basic home insurance policy will cover damage caused by fire, wind, hail, lightning, smoke, theft, wind and vandalism. Common exclusions include flood damage and earthquake damage. Be sure to review your home insurance policy and ask your insurance agent if you have the right coverage for your home.

Directly After the Accident

It is important to file a claim as soon as possible. Waiting too long can affect your ability to file a claim or the compensation you may receive for the damages. Some home insurance policies have a set limit for when you can file a homeowners insurance claim, such as within 30 days of the incident. Check your policy to know when you have to file a home insurance claim.

After the Damages are Appraised

Although you should file a home insurance claim quickly, it is still important to have a professional evaluate the damages to your home after an incident. This can help you get a feel for how much the damages will cost to repair and if you will meet your deductible.

When in doubt, speak with your insurance agent and ask about your coverage. Even if you don’t file a claim, your insurance agent should still be kept in the loop about accidents in case you eventually do have to file a claim. While filing a home insurance claim can raise your insurance rates, repairing or rebuilding your home out of pocket can be incredibly expensive. Compare quotes and speak with an insurance agent about your coverage today.

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