Will Making a Claim Cause Me to Not be Renewed?

When a disaster occurs and you need to make roof damage claims or similar acts on your homeowners insurance policy you may wonder if this will cause you to not be renewed for another year. Depending on the type of coverage you have, the rates you pay and the specific information in your policy - making a claim should not affect your renewal status. Of course there are always exceptions and if you find yourself unable to renew your homeowners insurance you will need to begin shopping for a new policy online. There are many great homeowners insurance companies available and they offer great rates on coverage for all types of perils. Make sure you compare the rates and coverage to get the best deal.

Renewing Your Homeowners Insurance

Every six months or once a year you will need to renew your homeowners insurance. If you have not had any claims against the policy you should have no problems renewing and you may even earn a discount. If, on the other hand, you have had a major claim in the last couple of months there is a chance the company will not renew your policy. Depending on the type of coverage you had and the amount of the claim will determine if you are considered a high risk customer. If the company does not cancel your policy - you may see a rate increase at the very least. If this is the situation you are faced with - shop online for a better rate from a reputable insurance company.

It is also smart to review you policy every six months whether you have had a claim or not. Sometimes you will not automatically be given discounts unless you specifically ask for them. Checking the rates of other homeowners insurance companies is smart. You may find that you are paying too much for your policy and you would be better off switching to a cheaper company. If you are worried about whether your homeowners insurance will not be renewed after you make a claim - take a few minutes and look for another policy online so you will be prepared if you need it.

Types of Claims

Depending on the types of claims you have made with your homeowners insurance - you may or may not have your policy canceled. You never want to make small inconsequential claims that you could take care of out of pocket. Homeowners insurance companies do not want to be bothered every time there is hail and you find a dent in your patio set. If the company believes you are taking advantage of the policy - they will not have a problem canceling your coverage.

If you have a legitimate claim that is considered a covered event you should not need to worry about losing your insurance policy. The reason you have homeowners insurance is to protect yourself and your assets if a need arises. As long as your are honest and the damage should be covered by your homeowners insurance - go ahead and make the claim for the money that is rightfully yours.

Although you can never be sure what your homeowners insurance policy will do - if your claim is legitimate you should not have to worry about the claim causing you to not be renewed. It is never a bad idea to shop around for the best rates on homeowners insurance. If you find you need to purchase a new policy - find the best rates online.

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