Will Your Homeowner’s Insurance Rate Increase after Making a Claim in Florida

Your insurance rate may increase after making a homeowner’s claims in Florida. Your rate may go up an average of 2% according to recent data. Therefore, it is wise to ask what the claim is worth. The average homeowner’s insurance premium in Florida is about $1,500. The average value of Homeowner’s claims in the U.S is about $8,000. Therefore, as it pertains to Florida it may be a nullity to worry about a post loss rate increase. However, keep in mind that every case is different. For example, rate increases may vary by regions or locations.

So it could be a bit a balancing test whether to make a claim. However, in many, if not most cases it makes sense to make a claim. Of course, one should also take into account the deductible. Policies vary as it pertains to deductibles. Indeed, with there are different types of deductibles within a policy. For example, a policy may contain an all perils, sinkhole, and a hurricane deductible. Thus, the amount of the deductible will play into the balancing test as well.

There are certain steps that should be taken when making a homeowner’s insurance claim. It is imperative to document and report the loss. Most insurance homeowner’s policies require that steps be taken to prevent the loss from escalating or allow it to get worse. As Florida Homeowner’s insurance attorneys we understand how important this is. Many homeowners call remediation companies to take these steps.

It is important to keep your home in good repair. A very common form of denial insurance companies us is wear and tear and/or neglect. Meaning the homeowner failed to keep the premises in good condition and a result the loss occurred. It is also important to cooperate with the Insurer’s information within reason. A Miami Homeowner’s insurance attorney can assist with this. An attorney can help a homeowner comply with the post loss requirements of policy while making sure that the insurance company does not step out of line.

South Florida Homeowner’s insurance attorneys are here to help you. If you have any questions or concerns please call us at 1.888.413.8353.