How Long Can Homeowner Insurance Claims Stay On Your Record?

Having a homeowner’s insurance policy can provide you with peace of mind. Homeowners insurance covers your personal belongings when lost in a covered loss. So, for example, if your house gets destroyed or damaged, you can file a claim, and your insurer will reimburse the cost of repairs or replacement.

However, you might wonder how long a homeowner’s insurance claim will stay on your record. A home insurance claim can stay on your record for up to seven years, depending on your insurance policy.

How Claims Affect Your Home Insurance Rates

The more your claims, the harder it will be to find affordable coverage. That’s because many insurance providers restrict coverage or increase premiums if you have a recent claim history. In addition, some insurance companies may not even let you renew your policy after several allegations. Therefore, you need to be cautious when you file a claim. It’s advisable to file a claim only if it’s two to three times more than the deductible.

Homeowners Insurance Claims That Increase Your Rate

Some insurance claims affect your rates more than others. The following claims have the most effect on your eligibility for coverage or premium;

Water harm: Think of leaks or bursting pipes. These claims are considered preventable and can affect you more.
Responsibility: Your insurance premium will increase if someone gets injured in your pool or falls in your home.
Fire: It’s the most costly claim and can affect your record.
Theft: Break-ins could indicate that you are not taking steps to protect your property.

The following claims can affect your coverage less. That’s because these claims are out of the homeowner’s control:

  • Freeze damage
  • Flash impact
  • Harm to hail and wind
  • Flood damage and hurricane