Will Home Insurance Claim Increase My Premium?

  1. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    A claim against your homeowner’s policy could affect subsequent premiums.  You might be getting a discount for having been “loss-free” which would not be available next term.  If the loss met certain prescribed levels it would make your home a “substandard” risk and the premium might be increased to reflect the increased risk.  Actions taken on rates normally affect a policy for three years.
    Answered on August 21, 2014
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