1. Read your policy carefully, then get repair estimates to determine if the cost to fix the problem exceeds your deductible, the amount you pay out of pocket;
2. In addition, you should always make a claim—no matter your deductible or the size of the claim—when someone is injured on your property;
3. Homeowners shouldn’t report water damage under $10,000 because some insurers will give notice that they’ll be canceling your policy at the time of renewal due to concerns about mold;
4. Filing multiple claims, say two or three over a span of two to three years, puts you at risk for nonrenewal;
5. In most states, they’re required to send you a copy of your policy and identify the language they’re relying on in the denial.
This is a handy reference to keep. Remember, just because a claim can be filed, does not mean it should be filed. And just because a claim is denied, does not mean that it was denied properly. Always consult a professional if you have any questions on whether your insurance company acted properly.