Douglas Johnson wrote:
wrote:
If the roof was shot in the first place, just replace it.
Insurance companies don't make money by paying out
claims. They will adjust your premium to cover the costs,
simple as that.
I've lost five roofs to hail. Insurance (same company) covered all five. My
premiums were never increased for my claims. I believe it would be illegal for
them to do so in Texas.
Extensive hail damage in a region can cause a company to raise rates for all
homeowners in that region, regardless of whether they filed a claim.
-- Doug
What you report is consistent with my understanding of homeowners'
insurance; a claim will not directly lead to an increase in premium.
However, an insurer can just decline to renew your policy when it
expires, and as the insurance companies have not been making much money
on homeowners' insurance, some of them have elected to nonrenew policies
based on claims made. The problem is that the standards they apply in
making this decision are not in your policy, so you don't know if they
are going to nonrenew you until it happens.
Its hard to get a good answer to this question as laws vary from state
to state, and policies vary as time passes. So, for example, if I had a
roof replaced by insurance 10 years ago, and my premiums didn't
increase, and my policy was renewed, that doesn't mean that I would get
the same results today, even from the same company.