File a water damage claim when the covered damage is clearly well above your deductible. If the loss is close to the deductible, paying it yourself can make sense, because claims stay on your insurance history and can affect future premiums. Either way, stop the water and start drying first. Need the work done? Call (413) 603-1274.
The quick math
- Find your deductible on the declarations page. Many are $1,000 to $2,500, and some water losses have a separate one.
- Estimate the covered damage. Drying, removal and repair of walls, floors and ceilings, plus damaged belongings. The pipe repair itself is often not covered. See does insurance pay for the pipe.
- Subtract the deductible. That is roughly what the claim could pay.
- Weigh it against the long-term cost. A claim may affect your rate at renewal.
When it is usually worth filing
- Water reached ceilings, walls or floors in more than one room
- Finished basement, hardwood or cabinets are involved
- You need somewhere else to stay (loss of use coverage)
- Another unit or a neighbor was damaged
When it may not be
- A small leak under a sink caught quickly
- Damage limited to a small area of unfinished basement
- The cost is about the size of your deductible
Do not wait to decide
Policies require prompt notice of a loss, and drying cannot wait. Photograph everything and get an itemized estimate so you can decide with real numbers. Calling your agent to ask a question is not always the same as filing a claim, but ask how they record it. See how to document water damage. General information only.
Get the number before you decide
You do not have to decide in the first hour. Stop the water, take photos, start drying, and ask for a written estimate for the mitigation and repairs. Some people call their agent to ask questions before opening a formal claim. Ask your agent whether a phone call to ask about coverage gets recorded as a claim with your insurer, since practices vary. Once you have the estimate, compare it to your deductible and think about how a claim might affect your premium. If the damage is spreading or the repairs will clearly be large, report it right away. Policies require prompt notice, and waiting too long can cause problems with coverage.
Small claims add up
Insurers look at claim history. A small claim that pays only a little over your deductible may not be worth it if you are likely to need your coverage for something bigger later. On the other hand, water damage that seems small on day one can grow once walls and floors are opened. Get the moisture readings before you decide it is small.
If you are unsure, report it and ask questions. It is easier to close a claim you did not need than to open one late. Your agent can explain how a reported loss affects your policy.
Questions
Will one claim raise my premium?
It can, depending on your insurer and your history. Ask your agent.
Can you give me a price before I decide?
Yes. You get the price before work starts. See what changes the price.
Need it fixed and dried? Call
Call (413) 603-1274 now. Locally owned in Chicopee.