Most Expensive Home Insurance Claims

Filing these types of home insurance claims will cause your rates to increase toy home next to stack of coinssignificantly.

While filing any type of homeowners insurance claim will raise your rates, some types of claims will do more damage than others.  Watch out; filing these types of home insurance claims will result in significant premium increases.

  • Damage Claims

There are many perils that can result in property damage. Oftentimes, these types of claims are very expensive.  For instance, fire damage claims are the most expensive, resulting in an average premium increase of $273. Water damage claims are also very costly, increasing premiums by an average of $228.  Finally, weather damage claims are also quite expensive and result in an average rate increase of about $107.

  • Liability Claims

Personal liability claims will also cause your insurance premiums to increase significantly.  For instance, a single liability claim will result in an average premium increase of about $260.  Personal injury or medical claims are also pretty expensive, with a single claim resulting in an average premium increase of about $76.

  • Theft Claims

Finally, filing a theft claim will cause your homeowners insurance rates to increase considerably.  A single theft claim will result in an average premium increase of approximately $253.

These are the most expensive types of homeowners insurance claims.  Do you have more questions about your home coverage?  If so, then contact the experts at Miller Carlisle Insurance Services.  Our expert team is ready to assist you with all your home insurance needs today.