To Claim or Not to Claim

State Farm dropping from California brings up the insurance claim topic again.

You call your insurance guy. You say, “Should I put in a claim for the fence that came down in the storm we just had?” or “What should I do about the water damaged that was caused by the water heater leaking?, you’ve just made a claim. Whether you collect on it or not, it goes in your file as a mark against you.

Just because you have the coverage, doesn’t necessarily mean you should file a claim.

I get older, my health insurance goes up, dramatically especially now that I’m over – well…you get the idea.

When you file a claim, the carrier is going to evaluate whether they should raise your rates or cancel your policy; either way it’s not good.

One more thing, when you get into contract to purchase a home, the first thing you need to do is contact your insurance carrier. First time buyer? Call the carrier that holds your car policy; you’ll get a better rate. Anyway, if the insurance company won’t cover the house, you don’t get to buy it.

They may need to do an inspection. If they find something they don’t like, no insurance. No insurance, no house.

SF Gate article

Vicki Moore About Vicki Moore

RE/MAX Star Properties
282 Redwood Shores Parkway
Redwood Shores, CA 94065

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