I have a 9 year old policy. I recently had a kitchen fire. My question is, will my premiums go up for making my first claim on my home insurance?
Total Comments: 2
Posted: Fri Oct 28, 2011 08:57 am Post Subject:
Yes it might increase depending on the reason of the fire. Was it because of negligence or pure accident? Ask your insurer to find out.
Posted: Fri Oct 28, 2011 09:25 pm Post Subject:
Yes it might increase depending on the reason of the fire. Was it because of negligence or pure accident? Ask your insurer to find out.
Unlikely. Homeowner insurance rates, unlike auto insurance, are normally not increased due to a loss. Sorry 'bout that, Homesure. The insurer might attempt to raise your deductible, but it's unlikely that you'll see a rate increase.
Homeowner rates are filed differently than auto insurance rates. Insurers that have problems with homeowners policies normally either (1) raise deductibles if the losses are small and somewhat inconsequential, or (2) cancel or non-renew the policy. If this is your only loss, it's unlikely, but not impossible, that you'll see any adverse effect.
Posted: Fri Oct 28, 2011 08:57 am Post Subject:
Yes it might increase depending on the reason of the fire. Was it because of negligence or pure accident? Ask your insurer to find out.
Posted: Fri Oct 28, 2011 09:25 pm Post Subject:
Yes it might increase depending on the reason of the fire. Was it because of negligence or pure accident? Ask your insurer to find out.
Unlikely. Homeowner insurance rates, unlike auto insurance, are normally not increased due to a loss. Sorry 'bout that, Homesure. The insurer might attempt to raise your deductible, but it's unlikely that you'll see a rate increase.
Homeowner rates are filed differently than auto insurance rates. Insurers that have problems with homeowners policies normally either (1) raise deductibles if the losses are small and somewhat inconsequential, or (2) cancel or non-renew the policy. If this is your only loss, it's unlikely, but not impossible, that you'll see any adverse effect.
InsTeacher 8)
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