To Claim or Not to Claim

by | Sep 17, 2014

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Message from the owner:  Eric VanVleet

Why do I have insurance if you aren’t going to pay a claim?  This is a refrain we have heard through the years when we suggest not turning in a claim.  The unvarnished truth is that there are situations and circumstances where not turning in a claim can make sense.  These are a few reasons:

    1.  All insurance companies have “claim thresholds” meaning a particular number of claims over a specific time frame.
    2.  Not all claims are created equal.  For instance, theft claims are looked at differently than weather related claims.
    3.  Keep your “powder dry”!  Don’t turn in small claims as a large claim may be just around the corner.
Experiencing a claim can be an emotionally charged event.  However, try to remain calm and listen to the agent. If you force the agent into a “defensive crouch” you may not get valuable facts that should be considered. We will always turn in a claim if that is what the client wishes. However, through the years we have watched insureds make claims when they should have reconsidered.  The penalty of non-renewed or cancelled insurance can be far more expensive than side stepping a claim.