BLOG

claims written on wooden blocks

9 January 2020 0 Comments Category: Article Archives, Home Insurance

Which Claims Make Home Insurance Rates Increase the Most?

Are there home insurance claims that increase rates more than others?

 

Insurance rates are based on a number of risks, but there are some factors that affect a policyholder’s insurance more than others, such as filing claims. Believe it or not, but filing claims will raise rates more than any other factor – besides poor credit. To help you understand which claims put your premium at risk of increase, read on.

 

Fire claim:

Average Price Increase: $273

Average % Increase: 20%

 

Liability claim:

Average Price Increase: $260

Average % Increase: 19%

 

Theft claim:

Average Price Increase: $253

Average % Increase: 19%

 

Weather claim:

Average Price Increase: $107

Average % Increase: 8%

 

Medical claim:

Average Price Increase: $76

Average % Increase: 6%

 

As you can see, there are some claims that cause your premium to increase more than others. Keep this in mind when assessing damage and how to save money.

 

We hope that this helps you to understand more about home insurance claims. To properly protect your home from disaster, secure reliable homeowners insuranceContact Massive Insurance for all of your California insurance needs in Pasadena.

Your e-mail address will not be published and required fields are marked.