Beware of Common Misconceptions
My premiums will go up.
Your premium was affected by the storm and is not affected by filing a claim. You already pay your insurance company to allow you to file a claim if you believe there may be damage to your home for any reason. They determine, after proper inspection, whether your investment qualifies for replacement due to the “storm related” damages.
My insurance company will drop me if I file a claim.
It would be against the law for your insurance company to do this. The legal term is “unfair settlement practices” as stated in sub division 4 of MN Statute 72.201
Insurance is for emergencies only.
Paying your premium every month is your “savings account” to cover these unforeseen events. The insurance company invests your money, gaining compound interest, which allows them to increase financially to better serve you, the insured.
Unfortunately these misconceptions, and others, deter many homeowners from filing a claim and maintaining the value on their home that their insurance covers. If you don’t know your legal rights and what you qualify for, you could be missing out! That’s why QUALIFIED REPRESENTATION is crucial. An experienced contractor who knows how to look for legitimate damage and holds the insurance company accountable to give you all that your policy covers will ensure you have the peace of mind that the value of your home is being protected.