Calculators › Home, Auto & Renters
Weigh what a small claim would pay against the premium increase that may follow, and find the damage amount where filing pays off.
A claim pays the damage minus your deductible, but it can also raise your premium or remove a claim-free discount for several years. For small property claims, that trade-off is worth working out before you call. This calculator puts both sides in dollars.
Insurance pays = Damage − Deductible. Extra premium = Annual premium × Expected increase × Years it lasts. Net gain = Insurance pays − Extra premium.
For $4,500 of damage with a $1,000 deductible, insurance pays $3,500. If the premium of $2,400 rises 20% for 3 years, that costs $1,440 more, so filing comes out $2,060 ahead. Below $2,440 of damage, paying yourself would be cheaper.
It depends on the insurer, your state and the type of claim. Weather claims are sometimes treated more gently than water or theft claims; several claims in a few years is what most often leads to a big increase or a non-renewal.
It can. Some insurers record inquiries. Asking your agent a general question first is safer than calling the claims line.
When anyone is injured, when you might be liable for someone else’s loss, and for any large loss. The calculator is for small property claims you could pay yourself.