An insurance claim is an official request you make to an insurance company, asking to get paid for damages.
Insurance claims can be made for any reason that’s a part of your insurance policy.
When you have homeowners insurance, you can make an insurance claim after a fire in your home; after there’s been theft or vandalism; and, after damage from falling objects or broken pipes and appliances.
There is a long list of circumstances for which you can file an insurance claim.
Collectively, these circumstances are known as covered peril, and the list of covered perils is different between insurance companies.
This is why it’s important to get multiple quotes when you shop for homeowners insurance. The more protection your insurance policy provides, the better off you’ll be as a homeowner.
But, just because something’s gone wrong, that doesn’t mean you should automatically file an insurance claim. Filing claims can cause your insurance rates to rise. So, there are times when filing a claim makes sense, and other times when it’s foolish.
Are you a first time home buyer?
Let us know if you’ve done this before - whether you’re a seasoned pro or buying for the first time. We’ll share the perfect information with you as you need it.
As a home buyer, you don’t pay to use a real estate agent; the seller pays from its commission after the sale. It’s free for home buyers to work with real estate agents. A good real estate agent performs the following services for buyers, and more: Interprets the data you find online into market analysis […]