I made an insurance claim on a bike theft that only cost a little over $500. I’ve already received the payout. I just found out this was probably a huge mistake that you should only make claims for catastrophic events because any claims will lead to drastically higher premiums and potential problems getting insurance in the future. Did I really screw up and is there any way to fix it or at least mitigate the damage I caused by making the claim?
Posted by fivdinos
2 Comments
Don’t worry about it.
Insurance is there to be used.
There is no way to tell how this single claim will affect your policy.
Just try to not make claims often.
One small claim usually does not affect your rate or affects minimally (you still can be at some loss finally or may be not). Beware of repetitive claims.