Jessica R ([info]shakenbysound) wrote in [info]my_first_home,
2007-09-17 11:57:00
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  • Mood: crappy

Home insurance question

Coming home late very Saturday night I was horrified to find that my house had been broken into. My computer was stolen, but nothing else.

I have never made a home owners insurance claim before. I am wondering whether I should or not. My deductible is $500, which is more than my computer was worth (I think I bought it on sale for $400). I left the window open and there was no forced entry, so I am to blame. Knowing that, what would be the benefit or reporting the claim? I do not know if my home insurance costs would go up because I am seen as more of the risk now (like they do with car insurance). Anyone know or know a friend in that industry?

I know this comm is for first-time home owners, so I don't know how many people have experience with filing home owner's insurance, but I figure it was worth a shot.

Everyone, let my experience me a lesson and remember to lock your windows and doors!

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  • 3 comments

[info]manuka

September 17 2007, 16:36:07 UTC 4 years ago

General rule of thumb, if your loss is less than your deductible, eat it. If it's more, don't bother unless it's significantly more. On a $500 deductible, I wouldn't bother with a claim unless it hits $1000. Otherwise, they'll make up that $500 from you in short order.

Any such losses are also tax-deductible if you itemize.

I just got done with a claim for reroofing my house after a hail storm. Fortunately, natural disasters like that don't affect my premiums as an individual (although premiums for my zip code might go up).

[info]shakenbysound

September 17 2007, 16:38:47 UTC 4 years ago

Thank you. I think you just confirmed that my rates would be affected if I report this!

[info]tckma

September 17 2007, 23:43:06 UTC 4 years ago

If it's less than your deductible, don't bother filing a loss claim. Not only will you not get any money, but your premiums will go up.

I'd say eat the $500, and instead file a breaking and entering / robbery report with your local police department.
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