These types of home insurance claims can cost you.
As a homeowner, it’s important to understand that your insurance premiums will increase every time that you file a claim. That being said, there are certain types of claims that will raise your rates more than others. Here are some of the most expensive home insurance claims to watch out for.
- Damage Claims
There are many perils that can result in property damage. Oftentimes, these types of claims are very expensive. For instance, fire damage claims are the most expensive, resulting in an average premium increase of $273. Water damage claims are also very costly, increasing premiums by an average of $228. Finally, weather damage claims are also quite expensive and result in an average rate increase of about $107.
- Liability Claims
Personal liability claims will also cause your insurance premiums to increase significantly. For instance, a single liability claim will result in an average premium increase of about $260. Personal injury or medical claims are also pretty expensive, with a single claim resulting in an average premium increase of about $76.
- Theft Claims
Finally, filing a theft claim will cause your homeowners insurance rates to increase considerably. A single theft claim will result in an average premium increase of approximately $253.
These are some of the expensive home insurance claims that you need to watch out for. Do you have questions about your home coverage? If so, then contact the experts at Udell Family Insurance. We are ready to assist you with all your home insurance needs today.