Filing claims for minor damages can increase your insurance premium, especially if the repair cost is less than your deductible
Procrastinating in reporting incidents like burst pipes or break-ins to your insurance company can lead to complications and suspicions of fraud
Failing to take pictures and videos of the damage from various angles and lighting can make the claims process more challenging
Not reviewing and updating your home insurance policy regularly can result in being underinsured, as property values and possessions evolve
Not knowing what your policy covers and doesn’t cover, like natural disasters or specific damages, can lead to costly issues
Not maintaining an up-to-date inventory of your possessions can complicate filing a claim or reduce the settlement you receive
Cleaning up damage before documenting it thoroughly and allowing an insurance adjuster to inspect can reduce or nullify your claim
Insuring your home for its market value instead of its replacement cost can lead to inadequate coverage for rebuilding your home after a loss
Opting for a very high deductible to lower premiums can put you in a financial bind when a claim arises
Regularly filing claims, even if nothing is paid out, can signal to insurers that you are likely to make future claims, affecting your rates and coverage