Most helpful critical review
2 of 4 people found the following review helpful
Dangerously untrue in the sample
on December 16, 2011
I read the sample. As an insurance regulator (rate & form filings; market conduct) specializing in homeowners insurance, I try to stay well-apprised of all information available.
The first few pages say that you will generally not get an increase in your homeowners insurance from filing a claim. This runs directly contrary to what I see in the rate manuals. Generally, if the claim is over $250 or $500, it will be counted for a loss history rating factor. These rate manuals are publicly-available from your state insurance departments. Companies should be able to tell you how much of a hit you're gonna take. If they won't, switch companies. I'm not necessarily saying that you should not file a claim whenever you have damage, as not notifying your insurance company of a loss which becomes serious later on could put you in a bad position.
It's also not true that you won't be dropped from your insurance for a single claim. Regulators certainly hear about this happening, and from what I've heard it is not some sort of 'black swan'. It's more typical with water damage type claims (burst pipes, mold damage, etc). I personally have not seen this happening, but I haven't been doing this for all that long.