Tuesday, June 23, 2015

If I file a claim will it raise my premium???? The truth behind the lies...


Often I get asked if filing a claim will raise my premium or annual amount.  I like to be as frank and truthful with clients as possible. Most adjusters would just say, “That’s not my area of expertise. The answer is that filing a claim will NOT cause your homeowner’s premium to increase. Contrary to what many people believe, they associate having one claim filed with their rates going up. The fact is that claims don’t dictate the premium with regards to homeowner’s insurance. Homeowner’s insurance does not perform like auto insurance. Auto insurance has dozens, sometimes hundreds of tiers for premium rates. Your claim history, citation record, points on your license, and various other things contribute to the tier that you are placed in and the premium you pay.

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Homeowner’s insurance focuses more on the region that you live in. The number of catastrophes your area has suffered in the past few years, the potential risk in your area, the type of residential home, and the amount of coverage you buy, and other factors dictate the bulk of your premium. Filing one claim will not spike your premium. Now, your premium may go up in the subsequent year, but do not put two and two together. Insurance companies are more concerned with the amount of claims you have filed in a given period. If you make three claims in one year, they will most likely drop your policy altogether, not raise your individual premium. The premiums are usually raised in bulk for a given region, not individually, and insurance companies can only submit rate increases once per year.  The insurance industry will have you believe different.

So, if you have a loss with damage, the right thing to do is allow Roofing Professionals of Texas to file the claim on your behalf and navigate it from there in an attempt to get you the optimum dollar value for your loss, using superior products, professional craftsmen, and an incredibly talented company. After all, you’re paying a premium every year, why not use your insurance for what it’s designed to do?



DISCLAIMER:  As I always say, I am not an insurance agent, a tax professional or an attorney, but I am a roofer in the DFW area in the insurance restoration industry and have been filing claims on behalf of property owners for over a quarter of a century, I am a graduate of Law School and minored in contract law, and have helped thousands of clients save money every year in taxes as a result of roofing.  Don’t take my advice directly.  Listen to the thousands of grateful clients in who have benefitted from our skillset.


Freddie Reinwald / Roofing Professional
freddie@roofingprotx.com / 214-293-0944

Roofing Professionals of Texas
Office: 469-906-2600 Ext. 101/ Fax: 469-906-2601
9500 Ray White Dr. Ste. 200, Fort Worth, TX 76244
ww.roofingprotx. com

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