I recently found out that a storm damaged the roofs in my neighborhood, and a roofer told me my roof might be eligible for an insurance claim. After his inspection, I filed a claim with my insurance, but the deductible was higher than I expected—2% instead of 1%—so I decided to cancel the claim. Now, I'm wondering if this decision will impact me if I switch to a policy with a lower deductible or if I might face issues when I need to file a claim for future damage. Any insights would be appreciated!
3 Answers
Don't stress too much! If you can manage the costs out-of-pocket, it might be fine. Just remember that any claims you filed, even if they resulted in $0 payouts, stay on your record for about five years. Just keep that in mind when shopping for new insurance or changing policies.
Honestly, it’s worth considering paying the deductible and getting the roof fixed properly. You could save a lot more in the long run, even if it means a slight increase in your premiums later. If your roof really is damaged, it’s better to address that sooner rather than later.
It could be a bit tricky. If you cancel a claim, insurance companies might see it as a red flag. They might assume you have an unresolved roof issue when you try to file again. Make sure if you do file another claim, you’ve actually done some repairs because they might want proof of that before covering anything in the future.