How to file a homeowners insurance claim | Redux

How to file a homeowners insurance claim

Excerpt:

(MoneyWatch) You might think that after shelling out all that money for your home insurance premiums, you could actually take advantage of your policy whenever you needed it. But in the perverse calculus of actuaries, underwriters, and liabilities, it's actually not that simple. "More than two claims in a three-year period is a red flag for the underwriters, and some insurance companies will drop you like a hot potato," says J. D. Howard, executive director of Insurance Consumer Advocate Network. "We always counsel people not to make a claim unless the cost of the repair is three times their deductible." So for example, if you have hail damage to your roof that can be repaired for $1,000, and the deductible on your policy is $500, it's probably better to pay for the repairs out of pocket.

Concepts:

Insurance Underwriting Home insurance Actuarial science Real estate Deductible Economics Boiler insurance

People:

J. D. Howard

Overall Sentiment: 0.0215146

Relevance: 0.561805

Sentiment	Quote
0	"More than two claims in a three-year period is a red flag for the underwriters, and some insurance companies will drop you like a hot potato," says J. D. Howard, ...
0.0243042	"More than two claims in a three-year period is a red flag for the underwriters, and some insurance companies will drop you like a hot potato," says J. D. Howard, executive director of Insurance Consumer Advocate Network. "We always counsel people not to make a claim unless the cost of the repair is three times their deductible."
0.0153847	"The insurance company sees too many small claims as a homeowner using his insurance policy to pay for upkeep on his house," Howard says. ...
0.015375	Howard: "If the consumer's adjuster makes the argument that the valve and not the furnace is the cause, the company is very likely to exclude the cost of the valve, which could be a $3 part, and go ahead and pay for the furnace,"
Sentiment Stats:	Number of Quotes: 4 Aggregate Sentiment: 0.0550639 Mean: 0.013765975 Standard Deviation: 0

Nancy F. Smith

Overall Sentiment: 0

Relevance: 0.266023

Key:

• Aggregate Sentiment is meant to be an indicator of an individual's overall sentiment.
• The Mean is meant to be an indicator of an individual's average comment sentiment.
• The Standard Deviation, when there are enough quotes, will indicate an individual's consistency of sentiment (i.e. a Standard Deviation of 0 would mean they were very consistent in their sentiment and 1 would mean they were very inconsistent).

Note that quote stats are likely to be meaningless beyond the aggregate score due to the tiny sample size. However, they are always provided just in case you find something useful there.

Additional Info:

FieldTerminology: insurance company

Overall Sentiment: -0.102726

Relevance: 0.883171

FieldTerminology: insurance premiums

Overall Sentiment: 0.0365387

Relevance: 0.60403

FieldTerminology: insurance companies

Overall Sentiment: -0.0385815

Relevance: 0.540501

FieldTerminology: insurance policy

Overall Sentiment: 0.0193503

Relevance: 0.437472

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Filing a claim on your house every time you experience damage isn't always the best strategy -- especially when the claim is small

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• comprehensive loss underwriting exchange
• dpst cbssandy
• home insurance premiums
• homeowners insurance
• homeownership
• insurance claim
• insurance for your home

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How to file a homeowners insurance claim

Source : How to file a homeowners insurance claim

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