Should I Report A Claim Or Pay Out Of Pocket?

tree-branch-pierced-roof-after-killer-storm-ripped-through-evansville-boonville-areaDear Sherri, A tree on my property fell and damaged my roof. The estimate to repair the roof is approximately $2,900. Since I have a $2,500 deductible, should I report this claim to the company? – Timberrrr in Park Slope

Dear Timberrrr,
Well, now we have confirmation that “A Tree Grows in Brooklyn”. Or at least it did! That being the case, I wouldn’t submit a claim. Now, before you say, “that’s why I have insurance!”, let me explain. You have insurance for MAJOR property and liability claims. This small claim of only $400 after the deductible would be on your record for the next 5 years. If, God forbid, you have another claim in that same year due to a severe storm, your insurance company may non-renew your policy. Now you have to buy a more expensive policy and that will quickly eat in to those $400 you saved on your roof due to the claim. The point is, call your insurance agent to discuss it before you take any action and determine what is in your best long-range interest.

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