Should I file homeowners claim?

A

accuratehorn

10,000+ Posts
So our house got broken into a couple of weeks ago, and a few things stolen, which if you count the large change bucket and wife's laptop, could cost new about $2500 or so. We have homeowner's, with a $500 deductible. If we file a claim, are they likely to screw us down the line with increased rates or cancellation? Also, would the older laptop be valued at almost nothing, or at repalcement valvue, which could be $1500 or more? We made a police report-they came out and took fingerprints here and there.
And should my 4-legged security system be upgraded, the one who welcomed the burglars into the house, after they placed the bowl of outside cat food inside the door they pried open to befriend him? He enjoyed the bribe, and is no doubt hoping for another visit from his new friends.
 
Most likely you have replacement cost coverage for your personal property which would allow closer to the $1500 for your laptop rather than a few hundred. They will likely give you the few hundred (actual cash value) for your laptop initially and then supplement you with the full replacement cost after you have purchased a replacement. If you never replace the laptop, you will probably never receive any more than the actual cash value. Some policies have a computer endorsement, which can both limit and enhance your coverage for computer equipment.

You can't be surcharged for making a single claim, but if you have prior or subsequent losses in a 3 year window you could get non-renewed by your carrier. See #1 below.

A few things to consider:

1. If you notify your insurer that you have suffered a loss and you don't end up making a claim, the insurance company can still record it as a loss on your loss history records. Contrary to popular belief, dollars paid out in claims carries relatively little weight when an insurer is reviewing a policy for non-renewal. It is all about frequency.

2. Some companies, like Allstate, have a ******** claims free discount on homeowners policies that is, in essence, a claims surcharge in disguise. Many people don't even know they have it until after they make a claim their rates increase. That is why you hear so many people erroneously swear up and down that they got surcharged for making a Homowners claim. I know that State Farm and USAA don't practice this. I would suggest you check your policy for this before making a claim as an increase in premium due to the loss of a discount could quickly offset any claims benefit.

3. If you make a claim, I would suggest that you follow up and provide to your insurer in writing a letter detailing whatever measures that you have taken to avoid a similar loss in the future. Again, it is all about frequency, not dollars.
 
Well I would probably make the cliam IF you can produce adequate documentation of your losses. the computer is a ***** and when you start adding software it could be pricey. The change bucket is prbably just a loss that I don't know if they would allow.

I would Look aroud VERY closesly to make sure that nothing else was taken and if you find ohter items addedum them to your police report.
 
If you're not going to file a claim for a $2500 loss, then raise your deductible and save you a little money.
 
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