How much will my insurance increase if I file a claim
Anytime someone has a potential insurance claim, they ask if I file this claim what will happen to my insurance rates.
Unfortunately, insurance agents like us at Crowley Insurance do not have this kind of information or know exactly what your rates will change to if or when you have a claim.
But, yes, your insurance rates can and probably will increase when you file an insurance claim on your auto insurance, home insurance, or business insurance policies.
Insurance rates continue to rise for several reasons, and yes increased claims are one of them. It is important to always realize that insurance companies are a for-profit business. The more claims they have paid out on, the more premiums they need to collect.
Discuss the claim with an agent first
One of the main reasons that you need an independent insurance agent is so you can discuss a claim first before actually filing them with the insurance company.
When working with a captive insurance agent, or an online insurance carrier, you most likely have to call the insurance company directly to file or discuss a claim. The moment you make that call, the claim is being filed.
When using an independent agent you get to contact a team of professionals that can discuss your specific situation, and your specific policies to see if it is a good idea to file that claim.
This way, if it’s a minor claim on a hit and run and it’s under your deductible, you’re not filing a claim. If it’s a claim that will fall right over your deductible, you’re still not filing a claim.
This is where we can weigh the risk verse the reward on an individual basis to prevent future insurance rates from jumping.
Auto, home, or business insurance policies are not meant to be used for every little incident or claim and should be used for the larger incidents. It is different than how your medical insurance is.
By not filing small insurance claims, you will help keep your rates down along with rates for the entire insurance company.
What if you don’t have an agent to call
If you don’t have a relationship with an independent agent or want a review of your insurance then click the button below to schedule a review with one of our trusted insurance advisors.