Video — When Should You Make Home Insurance Claims?

Home insurance claims are best made for significant damage or events with costs greater than your deductible. If your deductible covers the majority of costs, paying out of pocket may save you money. Compared with rate increases caused by added claims. A history of filing claims is not in your favor. If you file too many, your home insurance company could choose to drop your coverage entirely. Of course, claims should be related to covered damage in some areas. For example, flood and earthquake insurance are carried separately from normal home insurance. You'll have to file through the specific related policy for these types of damage. Remember, home insurance does not exist to cover ordinary maintenance. A claim to fix ordinary wear and tear, or something that could have been prevented by regular upkeep may not be covered. Finally, only make a claim when you have document. Everything. Do a walkthrough, take notes and photos, and list everything damaged by an event to ensure that you and the insurance adjuster are addressing the full set of issues in the claim.