You shouldn't worry about filing a claim on your homeowners insurance...

Many homeowners are concerned that filing a claim will raise there insurance rates.  This is definitely not the case.  After all, the reason we pay homeowners insurance is to protect us against loss of our most valuable investment, our home.  Therefore, the insurance company does not raise your rates for using the very service you are paying for.  Raising your rates for filing a claim would be equivalent to paying your car payment, and the monthly amount going up because you drove it.

One company laughed at the thought of premiums going up because a homeowner filed a single claim.

When it comes to auto insurance, filing a claim can have serious repercussions because your insurance company might jack up your premium the next time you renew. But what happens when you file that first homeowners claim? Will your premiums skyrocket or stay the same?

According to insurance companies, nothing happens. One company's representative even laughed at the thought of premiums going up because a homeowner filed a single claim. Spokespersons for many of the 10 largest homeowners companies went out of their way to stress this: "A single claim, almost regardless of its size or type, won't raise premiums."

And what insurance companies are saying seems to hold true in practice. Bob Hunter, the Consumer Federation of America's insurance expert, confirms, "One claim won't trigger a price increase."

One state department of insurance spokesperson says, "It's almost unheard of for a single claim to raise premiums, especially if it is an act of God." Act of God refers to an event caused entirely by the forces of nature.

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