Home insurance is great, but coverage should not be your first and only way of dealing with home damages. You should do your best to prevent damages or theft that can trigger home insurance claims. Below are some reasons to avoid such claims.
To Make Your Property Easy to Sell
Discerning buyers do not want homes with multiple insurance claims, especially multiple claims within a short period. Such a home makes it difficult to buy home insurance coverage, at least not at an affordable price. For that reason, prospective homebuyers often scrutinize CLUE reports before submitting home purchase offers.
To Avoid Wasting Money and Time
In most cases, you must invest a few resources before your home insurance company settles your claim. For example, many homeowners spend money and time settling home insurance claims. First, you have to spend money in the form of a deductible if you have damage or loss that requires a deductible.
Secondly, you have to:
- File a police report in case of theft
- File an official claim with your insurance company
- Mitigate the damage
- Meet and negotiate with the adjuster
- Deal with repair contractors
Fortunately, you can avoid all these complications by avoiding the damage in the first case.
To Maintain Good Rates
Some home insurance claims impact your future premiums. The rate increase risk exists with damages that insurance companies think you could have prevented or those likely to reoccur. Examples include claims for animal bites, water damage, and those that involve security breaches. Again, avoiding such claims help you maintain reasonable insurance rates.
To Maintain Coverage
Insurance companies cannot operate without the money they get from their clients. Too many claims mean the insurance companies have to spend disproportionate money on you. The disproportionality is especially true for damages you can prevent with good maintenance practices. Avoid such claims so that your carrier doesn't drop you.
To Enhance Your Peace of Mind
Lastly, doing your best to prevent losses and damages that can trigger insurance claims will give you peace of mind. For example, a good home security system can keep burglars away and prevent theft-related claims. At the same time, good home security will give you peace of mind while away.
Hopefully, you will not experience losses that require you to file home insurance claims. However, you never know what the future holds and have adequate coverage if you ever need to file a claim.
For more info about homeowner's insurance, contact a local company.
