Which Claims Drive Up Your Home Insurance Costs?

Which Claims Drive Up Your Home Insurance Costs? – We are used to the idea that after a car accident, especially one where we are at fault, that our auto insurance premiums go up. This knowledge logically leads us to the question of home owner’s insurance. If your home suffers damages and you file a claim does it negatively affects your insurance rates?
Most industry experts would tell you that if you file a single claim, regardless of its cause or the amount of the settlement, you should not see an increase in your homeowners insurance premiums. Cancelations of the policy by the company are almost impossible, even if you caused the damages by your own negligence, unless you purposefully destroyed or damaged your home.
There are, however, some exceptions. For example, if you own a ferocious dog and someone files a “dog-bite” claim against you, insurers have been known to raise your homeowners rates or even deny the renewal of your policy, based on their concerns of a repeated offense on your dog’s part (unless you take some specific measures to prevent your dog from biting others, or, better yet, get a cat J).
Even multiple claims related to catastrophic weather should not be a cause for an increase in premiums, or cancelation. Insurance companies generally treat these damages as “acts of God” and could not possibly penalize you for living in the area habitually affected by severe weather. You can be certain that they have already taken the risk of weather damages into account when they calculated your premium in the first place.
On the other hand, if you happen to file several similar claims, especially if they are not related to catastrophic weather, such as “slip-and-fall” claims or accidents caused by faulty plumbing, this could cause an increase in premiums. Generally, any “preventable damages” would be considered by insurance companies as a valid cause to increase your rates after multiple claims.
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