IS FILING A HOME INSURANCE CLAIM WORTHWHILE?

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IS FILING A HOME INSURANCE CLAIM WORTHWHILE?

Home insurance is meant to protect a home from major catastrophes. Anything less than complete destruction and homeowners should do some math and determine if filing a claim is worthwhile.

Hopefully, this is something you’ve done long before an emergency hits. Determining what types of damage are worth filing a claim over can keep you from unnecessarily filing a claim and wasting money and time (and possibly increasing your insurance rates later!).

KNOW YOUR DEDUCTIBLE

Setting a high deductible will almost ensure that you don’t file claims that cost $1,000 or so more than the deductible. Why pay a $5,000 deductible for water damage to your bathroom that will cost $6,000 to repair?

A deductible, if you’re not familiar with the term, is the amount you pay to your insurer when filing a claim before coverage begins. It’s in addition to the premium you pay for coverage. https://www.insuramatch.com/is-filing-a-home-insurance-claim-worthwhile