Will my Insurance Company Drop Me if I File a Homeowners Insurance Claim?

You have been paying your homeowner’s insurance premiums for a while now, and suddenly you have to file a claim. But you are afraid that once you submit that claim, your insurance company will drop you. Are you right to worry about this? Should you file a claim, or should you avoid doing so to keep your insurance company happy? In this blog post, we will explore this issue and help you understand what you need to know to make the best decision for yourself. Will my insurance company drop me if I file a homeowners insurance claim? Let’s dive in!

One Insurance Claim Versus Excessive Amounts of Claims

Firstly, it is important to understand that your insurance company may not automatically drop you just because you file a claim. However, if you file an excessive number of claims, or if your claims are frequently too pricey, your insurance company may decide to drop you. The worse the damage, the higher the insurance payout, and the more likely the company is to consider dropping you. Hence, if you have small damages, you might be better off paying for the repairs out of your pocket. That said, if you have substantial damage, you should always file a claim because that is what insurance is for, to protect you when things go wrong.

Know Your Homeowners Insurance Policy and Procedures

Secondly, it’s important to note that every insurance company is different, and each has its claim process. It is therefore important to know your home insurance policy and what procedures you must follow when you file a claim. This will help you better determine the steps you must follow, the process, and what may happen should you decide to file the claim. For example, before filing a claim, you may need an independent home inspector to evaluate your property’s damage, and thereafter, you may be required to provide supporting documentation such as receipts and before/after photos of the damage. Know your policy, follow the procedures, and the rest will flow seamlessly.

Understand Flood Zones, Hurricane Deductibles, and Other Hazards That Could Raise Rates

Thirdly, if you live in an area prone to hazards such as hurricanes and floods, it is important to understand how these perils might affect your insurance rate. Hurricanes, for example, can uproot trees, knock down fences, and damage roofs, leaving your home vulnerable to water damage from rain. Flooding can also wreak havoc, leaving you with extensive property damage. As such, homeowners in flood zones and high-wind areas may often have to pay higher premiums, but it is always advisable to speak to your insurance agent to explore your options.

Fraudulent Homeowners Insurance Claims

Fourthly, insurance companies are businesses and are out to make a profit. Consequently, they will try to cut costs whenever they can. This is why home insurance companies in Pensacola can sometimes be wary of accepting risky policies or paying out for claims that aren’t valid or that cost a lot of money. Therefore, when submitting a claim, it is essential that you are honest and transparent about what happened. Do not exaggerate the extent of the damage, because if the best homeowners insurance company in Pensacola discovers that you have done so, they may fraudulently drop you, which could mean the loss of your insurance entirely.Homeowners insurance renewal is important, so let’s not risk it!

Filing a homeowners’ insurance claim can indeed be a scary and daunting task, but it is essential to understand that insurance is there to protect your investment and hard work. Therefore, you should file a claim if you genuinely need to. With that in mind, always review your policy and understand the options available to you. Speak to a local insurance agent for a custom-made policy that meets your needs. If you live in Pensacola, we are your best option, and you have the opportunity to get a free homeowners insurance quote from our Gulf Coast Insurance in Pensacola. So, get in touch with us today and let us help you protect your home.

Local Agent Near Me in Pensacola

Welcome to Gulf Coast Insurance of Pensacola, the premier insurance company serving the Gulf Coast Florida region. We specialize in providing the best car insurance, homeowners insurance, and business insurance policies across Santa Rosa, Escambia, Okaloosa, Walton counties and beyond. Our commitment is to deliver affordable insurance solutions without compromising on coverage. Whether you’re in  Pensacola, Pace, Gulf Breeze, Navarre, Milton, Perdido, Cantonment, Crestview, Niceville, our team of experienced agents is here to help you find the perfect policy that fits your needs and budget.

Navigating through insurance options can be daunting, but at Gulf Coast Insurance of Pensacola, we make it easy for you. Our team works tirelessly to provide cheap yet comprehensive insurance estimates that will give you peace of mind knowing that your most valuable assets are protected. With a solid reputation among insurance companies, we pride ourselves on our customer-centric approach, ensuring that every quote is tailored to meet your specific requirements. Don’t compromise on protection for your home, car, or business – contact us today for a free quote and experience the Gulf Coast Insurance difference. Additional insurance coverages we can help with include boat, health, RV, classic car/auto, life, flood, renters, and umbrella insurance.