Life’s challenges are often unexpected and protection is a value our clients and their families deserve.
04/19/2024
While it may be tempting to file claims for minor car dents or property damage, doing so could result in higher premiums. Remember, repair or replacement expenses below your deductible are typically not covered by your insurer. Additionally, reconsider claims with repair costs slightly exceeding your deductible, as your insurer may only cover a small portion of the claim, potentially leading to a premium hike. For instance, if you file a claim for a valued at $1,000 with a $500 deductible, you may recover $500 from your insurer, but your premiums could rise significantly, costing you more over time. Before filing a claim for minor damages or losses, consult with your insurance broker to determine whether it's worth the potential premium increase. Sometimes, paying out-of-pocket makes more financial sense in the long term.
