Will My Homeowners Insurance Go Up If I File a Roof Claim?

Wondering Whether Your Premiums Will Increase If You File a Claim? Here’s What to Know

Your homeowners insurance is intended to provide financial security in the event that you’re faced with sudden, unexpected damage to your home. However, despite its overall purpose, many homeowners spend a lot of time wondering about the financial implications of their insurance, too. For example, one of the most common questions homeowners may ask is: Will my homeowners insurance go up if I file a roof claim?

At Wright at Home Roofing & Exteriors, our goal is to be the trusted partner of Minneapolis homeowners when it comes to any home exterior services, including roof replacements, storm damage repair, and more. A major portion of our storm damage repair services, however, is helping homeowners understand and navigate the insurance claims process. So if you’re faced with damage to your home and wondering if your premiums will go up, here’s what you need to know.

Will My Homeowners Insurance Go Up If I File a Roof Claim?

While the short answer is that your homeowners insurance is likely to go up if you file a roof claim, the long answer is that it all depends on several factors, including your policy, your provider, and the nature of your claim.

Many homeowners assume that their insurance premiums will always increase if they file a claim. This is not the case, however. Insurance premiums are based on very complex calculations that attempt to evaluate the overall risk of covering a particular person or property. Many of the factors used to determine your premiums have nothing to do with the act of filing a claim—though that can indeed impact how your provider views you in terms of overall risk. 

In some cases, filing a claim doesn’t affect their calculation, particularly if the reason for the claim has nothing to do with your own actions or inaction.

Instances Where Insurance Premiums May Increase

Homeowners frequently experience their premiums increasing after a claim, and the reality is that this does happen fairly often. One common cause is if you filed a claim for a “preventable peril.” For example, if your roof becomes damaged due to neglect on your part, your provider may raise your rates when you file a claim. In fact, they may not cover much of the cost to repair or replace your roof, which means it’s very important to schedule regular roof inspections and keep it in good condition.

However, not all premium increases will be your fault. For example, many homeowners report increasing rates following widespread storms in their area. These storms result in a high volume of claims which may cause your insurance provider to see your area as a higher risk—meaning your premiums could go up whether you filed a claim or not.

Instances Where Premiums May Not Increase

Generally speaking, damage to your home that arose through no fault of your own is less likely to cause your insurance to go up. These situations may also cause a smaller increase in your premiums.

A typical example of this is lightning striking your home. There’s (usually) nothing you can do to avoid this situation, and because lightning strikes are so random, your insurance provider is more likely to treat this as an isolated incident that won’t reoccur.

The Bottom Line: It Depends on Your Situation and Provider

Because your premiums depend on so many factors, most of which are completely beyond your control, it’s generally not worth it to worry whether your premiums will go up when filing a claim. 

At Wright at Home, our best advice is for homeowners to communicate with their insurance providers and even ask an insurance advisor if they’re worried about a potential increase in premiums. This is because no two insurance companies or policies are exactly alike, and they may treat identical situations differently when it comes to your premiums.

What is essential, however, is to repair any damage to your roof or home as soon as you can. The longer you put off a repair, the more likely your insurance company is to deny the claim due to neglect. Addressing damage quickly will not only keep you in your insurance company’s good graces but also protect your home against more widespread issues down the line.

Have you been affected by storm damage in Minneapolis? Reach out to request a free estimate and in-home consultation today.

* NOTE: Wright at Home Roofing & Exteriors and its authorized representatives are NOT acting as Public Insurance Adjusters and will not negotiate with insurance on the Customer’s behalf.