When NOT To File A Homeowners Insurance Claim

Sometimes it’s better to pay for damages to your home than to file a claim and risk increased premiums—or a canceled policy. Find out when you should NOT file a claim.

You’re being tracked. Not in some creepy, stalker kind of way, but every time you file a claim against your homeowners insurance policy, you’re entered into a nationwide database called CLUE (Comprehensive Loss Underwriting Exchange).

File too many claims and your insurance company could cancel your policy—or at the very least, raise your rates. And, because CLUE is a nationwide database used by nearly all insurers, you may have trouble securing a policy with a new company.

If you need to make a claim and your policy covers the loss, then by all means make use of that policy you’ve been paying for. But there are some instances where you may be better off not filing a claim.

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