MONDAY, DECEMBER 20, 2021
When something goes wrong and you have suffered damage to your home, filing an insurance claim is often the right thing to do. You pay for your home insurance to help meet your financial needs following a covered loss. But, will filing a claim actually increase what you pay for your home insurance? The answer depends on a number of factors.
Every claim is individually evaluated. That is, decisions about raising rates come from factors that relate to your individual history with an insurance provider, how frequently you file for claims and the value of those claims. The insurance carrier ultimately creates the rules they follow when determining if they should raise your rates or leave them. There are a few key things to know about filing these claims, though. 
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If this is your first claim, it won’t likely impact your home insurance rates in many cases
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If you've made two or more claims in a three year period, that may trigger a rate increase.
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If you are new to an insurer, you'll likely pay more than if you've been with the company for several years, after which, you may receive a loyalty discount.
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Some claims are more likely to lead to an increase in rates. Talk to your insurance provider about the specifics. In many cases, claims for water damage, dog bites and slips and falls tend to be the most likely to trigger an increase in rates.
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Keep in mind that insurance carriers track your claims history and can make decisions at any time, even months after your claim occurs.
Home insurance rates will vary from one insurer to the next. Just because one carrier raises your rates doesn't mean you'll pay more across the board. In fact, if your insurance carrier does increase your rate, this may be the ideal time to look for a new carrier to work with. Most importantly, if you are facing an incident and need the financial support of your insurance provider, get it. File the claim to help repair your home or cover your loss. This is why you are buying the protection in the first place.
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