When you are getting canceled for making a water claim it is probably a surprise

You were thinking “that is why I pay for home insurance

Well what you probably didn’t know is that you should contact your agent before you make a claim to determine if you should make the claim

We see many claims turned in directly to the insurance company and after the deductible is applied our customer received less than a thousand dollars

There is no point in making a water damage claim for $2800 and you have a $1000 deductible

So you get $1800 back and your home insurance renewal rate goes up 200% or you get canceled

Insurance companies hate water claims

Not water intrusion claims from weather but busted pipes, bathtub overflow, leaky water lines on back of your refrigerator or washer machine

These claims are expensive for an insurance company

They often cancel you or raise your rate at renewal and most home insurance companies will not accept any new business on a homeowner with a water claim in the last 3 years

 

Why?

The insurance company may expect future mold issues following a water claim

 

How do you know if you should make a claim?

All weather related claims you can file because an insurance company will not surcharge you or cancel you for these types of claims unless you have a surplus lines insurance company like Lloyds of London (they can cancel a policy and raise your rates without the approval of the Louisiana Department of Insurance)

Try to set a higher threshold on water damage claims

After your deductible if you are not getting back $5,000, don’t file the claim

 

So you are thinking now “what do I pay insurance for?”

Large losses or claims is the answer

House fire

Hurricane damage to roof

Busted water pipe causing $10,000 plus in damage

Take a higher deductible so you are not tempted to make small claims

Make small claims and your insurance rate goes up because insurance companies don’t want you to make small claims

Use home insurance for financially devastating events

A home insurance policy is not a home warranty or maintenance policy

 

What can you do when you receive a notice of cancellation?

If you have a water damage claim or claims on your record and all damage has been repaired,

we can help you with an insurance company that will write a new policy without adding a surcharge for claims

Just completed the quick form and let us know why you are being canceled and we can find you an insurance company