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Which Claims Make Home Insurance Rates Increase the Most?

  • January 23, 2020

Understand Which Home Insurance Rates Impact Your Premium

 

As a homeowner, you hope to never need to file a home insurance claim. You may have all the right protection in place, but no one ever wants to be a victim of a disaster. However, accidents happen. When you do file a claim, it’s worth knowing how that will impact your premium down the line. After all, not all homeowners insurance claims are created equally.

 

Fire:

Average Price Increase: $273

Average % Increase: 20%

 

Liability:

Average Price Increase: $260

Average % Increase: 19%

 

Theft:

Average Price Increase: $253

Average % Increase: 19%

 

Weather:

Average Price Increase: $107

Average % Increase: 8%

 

Water:

Average Price Increase: $228

Average % Increase: 16%

 

As you can see, not all home insurance claims impact your premium in the same way. Fortunately, there are still many ways to save on your insurance and secure reliable protection that helps if the worst does happen.

 

Are you ready to find the right homeowners insurance? Talk to one of our friendly and experienced staff members at Falsken & Associates Insurance Agency serving Thousand Oaks, Westlake Village, and neighboring cities in California.