When should I make a claim? click to expand.

The first thing you should ask yourself is “am I safe”. If your basement is flooded for example do not go down into the basement and put yourself in harms-way, call 911 if you or any family member’s life is in danger. Here are three easy questions you can ask yourself when deciding whether or not to make a home claim:

1. Does the damage or loss exceed my policy deductible?

We highly recommend you seek the advice of a Reliable Broker before making a claim so that you can understand the ins-and-outs of your policy and the potential financial impact a claim can make on your future insurance policy renewals. If a claim is less than your deductible it does not make sense to claim.

Example when not to claim: someone stole my bicycle from my garage and my bicycle was purchased this year for $800. My deductible on my policy is $1000. In this example it really does not make sense to make a claim.

2. Was the damage caused by an instant and unexpected occurrence?

Go through your policy to see what perils are covered. A Reliable Broker is here to help you navigate your coverages, so if you are unsure you can always reach us. It is important to know that Insurance policies do not cover you for maintenance, wear and tear. That’s why it’s really important for you to take care of your home to prevent damages from neglect.

Example of neglect: My hot water tank is 30 years old – but it only has a 15 year shelf-life recommended by the manufacturer. The tank bursts due to corrosion from the inside. The claim would likely not be covered.

3. Does my policy cover me?

Before opening a claim it’s a good idea to check that your policy covers you for the claim you wish to make for loss or damages. This is why it is so important to have a Reliable Broker on your side to help you navigate and select the right coverages to begin with. We make sure you optimize the coverages available to you. If you are not sure if you are covered give us a call before you call the insurance company to open a claim.