Stupidly filed a hail claim on my roof, having forgotten that I filed a wind claim on my siding 3 years ago. How likely am I to be dropped? Should I just start looking for new coverage now? Both claims were under $5,000, if that matters.
Posted by TheAbolitionOfMan42
3 Comments
It depends on the carrier whether they will drop you. If not, depending on how long you have been with them, it may be better to stay. The sweet spot for shopping is every 3 to 5 years.
The amount is less important than frequency. Nonrenewal depends on the carrier but with 2 claims, in average, I’d say 70% chance.
The good thing is that the siding claim is now 3 years old. Some insurance companies look at a 3-year history of claims. Others consider the 5-year history.
The insurance company will likely scrutinize your claims history and your account overall before your next renewal. They’ll take into account things like the frequency of claims, payout amounts, and longevity with them.
It wouldn’t hurt to get quotes from other insurance companies, but with two claims, a lot of companies won’t take you on. You have to be upfront with them about the claims. They’ll be able to find out anyway.