Watch Your Insurance Claims

Having homeowners insurance is a necessity to protect you for some unforeseen covered losses to your property and personal effects. Your insurance should be used only in extreme circumstances. Let me give you an example. Let's say you have a loss for $1,000.00, your insurance company will cover that loss minus your deductible, and you have a deductible of $500.00. Your insurance company will issue a check for $500.00. Do you feel that was a worthwhile claim? I say not! One reason this claim would not be worth filing, your insurance company will use this claim against you. In the future your insurance premiums will increase. Another good reason when its time to sell your home, it can make it more expensive for the new homeowner to get reasonable premium. Even if your insurance company opens a claim, and you never collect a penny, it will still count against you. Based on what the properties loss experience is, you might say. "What does that matter, I do not have ABC insurance". Guess what, it does matter. All insurance companies have access to this information to determine insurance rates. So in conclusion insurance is designed to protect you against losses. You just need to use it in a prudent fashion, for a significant loss to keep your insurance premiums at the lowest possible costs. This will benefit you and your future buyer of your home. To save even more premium dollars increase your deductible. If you have any questions feel free to email at findit@LehighValleyRealty.com