Quick Tip: Consider Your Deductible When Filing a Claim

There is a lot to consider before filing a claim for a property loss- Sarah shares some tips.

For property losses, it is important to keep in mind the deductible when considering filing a claim. If you have damage to a door for example, and the repair would be $1,500, but your deductible is $2,500—there is no point in filing a claim. For claims like these, where the cause and scope of damage are relatively obvious, always take into consideration the deductible in relation to the costs for repair. The same holds true even if the damage exceeds the deductible. Claims are the single biggest reason for premium increases, so it may not make sense to submit a claim for $5,500 when you have a $5,000 deductible.

As a general rule of thumb, it is a good idea to report all water claims to the carrier as soon as you become made aware of them because water claims have the potential to turn into mold claims later on. Remediation of mold which may be covered in some instances can be denied if a claim for water damage had not been submitted properly. For more information, please contact us.

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