When it comes to insurance claims, many clients are unclear of when and why to file them. Something is damaged, someone has been injured, or most likely, a payout is needed. Check out our tips of when and why to file a claim. Knowing that can help your bottom line at your insurance renewal.
When the Incident Occurs
Imagine an incident that could activate insurance: a roof claim, a tree falls on your car, or water is seeping up from a drain in your basement. The first step you should take is to call your Cincinnatus Insurance Advisor. We can connect you with one of our many referral partners who can come out and give you an estimate on the damage. We will also review your policy to ensure the potential claim is covered on your policy. When the damage is extensive and costly, that is the most appropriate time to file a claim.
Be Wary of Going It Alone
It is highly recommended that you seek advice from an insurance advisor before you file a claim. Here’s why:
- Filing a claim could potentially impact your rates at renewal.
- Claims stay on your record for a long period of time: anywhere from five to seven years.
- If you file multiple claims within a certain time period, your carrier could drop your insurance at renewal.
- If you file a claim and it’s denied with a $0 payout, it can still impact your rates at renewal.
Your Cincinnatus Insurance advisor knows the ins and outs of our over 10 carriers in the preferred market. Let us help you slay those insurance beasts by sharing our expertise with you!
Look at Your Coverage in Advance
Whether you just went through a claim or haven’t had one in years, it’s important to be prepared and educated. That means making sure you have the right coverage in place, and again, your Cincinnatus Insurance Advisor is your best resource is protecting yourself from financial disaster.