Should you file a homeowners claim? How to think it through
Start with two numbers and one deadline. Compare a realistic repair estimate against your deductible, and read your policy's notice requirements, because prompt notice is normally required whether or not you decide to pursue the claim. If the estimate is close to or below the deductible, the arithmetic changes the question. Nobody can tell you the outcome in advance, so gather the facts before you decide.
Do this now
- 1
Find your deductible, including any separate wind or named storm deductible.
A percentage deductible is calculated from a limit, so the dollar figure may not be printed.
- 2
Get a realistic repair number, in writing where you can.
One estimate is a data point. Two is a range.
- 3
Read your policy's notice requirements now, before deciding.
Do not let a decision run past a deadline written in the policy.
- 4
Document the damage either way.
Photos and receipts cost nothing and cannot be recreated later.
Why your policy matters
Different provisions in your own policy may apply to a situation like this, and they are not all in the same place in the document.
After reads the documents you upload and shows you the wording, word for word, with the page it came from.
After does not decide coverage. Your policy, the facts of the loss, applicable law and your insurer decide how a claim is handled.
- Your deductible, including any separate wind or named storm deductible.
- How the damage happened, which is usually written as its own provision.
- Tear out and replace, meaning the work needed to reach the damage.
- Any special limit that applies to the kind of damage you have.
- Loss of Use, if the home cannot be lived in.
- Duties after loss, meaning prompt notice, records and receipts.
Free to start. Private policy analysis. No insurance jargon.
Questions people ask
How do I compare the repair cost to my deductible?
Put the estimate next to the deductible figure from your declarations page. If the estimate is only somewhat above it, the amount in question is the difference, not the whole estimate. After does this arithmetic with your own numbers and shows the wording behind the deductible.
Do I have to report a loss even if I do not want to claim it?
Policies commonly require prompt notice after a loss, separately from any decision about repairs. Read the notice language in your own documents and do not delay required notice while you think it over.
Will one claim change my premium?
Rating practices vary by carrier and state, and no one can tell you the result in advance. Your agent or carrier can explain how they handle it. After does not price policies.
What if I already started repairs?
Gather everything you have: photos, invoices, scope of work, and the names of anyone who worked in the home. Report what you know and keep the records together.
Keep reading
Informational only. Not legal or insurance advice. After never states what your insurer will decide.