Q&A
Insurance rates for #HomeownersInsurance typically increase after a major storm, catastrophe, or a large number of claims are being filed in an area, whether you file a claim or not.
Rates are usually determined by the area/zip code where the property is located and the condition of your home. That is why your agent will ask you for an updated 4 point inspection report and wind mitigation when applying for insurance with a new company.
Lately, there has been an increase of “non-renewal” letters going out to homeowners because the insurance companies are withdrawing from the State, minimizing their risk, or maybe in financial trouble. I get at least one phone call a week from a client complaining of the rate increase.
Also, it is important that homeowners be careful to file several claims during a short period of time, especially water damage claims in Florida. If you have more than 2 water claims during a 3- or 5-year period (depending on the company) it could be a problem
There are #PublicAdjusters in the field who are not informed and end up filing 3 claims in your home, which could affect you in the future when renewing the policy.
If you have property damage, make sure to get an evaluation from a licensed and reputable Public Adjuster before filing a claim. Once you called the insurance company and report a loss, it is documented and stays on your claim history, even if you withdraw the claim later on.
If you have considerable damage, file the claim and do not worry about the rate because filing one claim should not affect you. That’s why you have insurance for.
Remember get help right away to avoid any “late reporting”.
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Maria E. Shalack - Senior Professional Public Adjuster
Call me for a Free Inspection.
(305) 343 1963
18886DAMAGE
