Why A Small Insurance Claim Is Not Worth Filing – Insurance Claim Solutions Advice

Small Insurance Claim | There are times that you are often better off covering the cost of a small insurance claim yourself. Filing an insurance claim can lead to a 20% to 40% jump in your premium, and in the case of a small claim, it may not be worth it.

There are a number of factors that influence the costs of your insurance policy; one of them is the total value and frequency of your claims.

Insurance companies— every one you’ve ever used—report all claims, even those they formally denied, to Insurance Link. The InsuranceLink database has been created to store the details of 1st party insurance claims and helps insurers fight insurance fraud, e.g. cuts down on duplicating claims, previous claim history non-disclosure etc

The report contains the following information on each claim:

  • Policy number
  • Your name
  • Date of birth
  • Property address
  • Type of claim
  • Description of claim
  • Date

If you wish to establish what information, if any, is held about you on Insurance link, you can do so by following the procedures outlined on their website. If there are any inaccuracies, you can also apply via the website to have them corrected.

Before you file a small insurance claim, check whether it is worth it

  • Never submit a claim that is smaller than the excess—simply, there is no loss.
  • Consider that each claim, no matter how small, will stay on your insurance record for many years.
  • Your insurance premiums may go up by 20- 40% as you may lose a no claims bonus. Even a small claim can lead to other insurers not quoting for your renewal, or preclude you from changing to a new insurer.
  • Think about the last time you made a claim. If you’re a consistent claimant, you’re going to get slammed on premiums. It isn’t unusual for a home owner to make up to two claims in a 10-year period, but more than one or two in a three-year time span and the alarm bells go off and you will be classified as a high moral risk.

Our advice is to keep your no claims bonus and don’t make a claim unless the resultant damage and payout is going to justify the increase in premiums. Keep it for when you need it.

If you suffered a loss and need a FREE professional advice on whether you should file an insurance claim, call us. Our experienced Loss Assessor will help you make an informed decision and help you keep your premiums low.

 

Contact Details

Insurance Claim Solutions
Golf Rd, Rush, Co. Dublin

Mobile: 086 357 1713
Phone : 01 870 9210

We are registered as Public Loss Assessors and fully regulated by the Central Bank of Ireland

Google Reviews

Custome Reviews
michaelhickey80
michaelhickey80
13:56 31 May 22
Trevor was recommended to us by a company who helped detect a leak in our house. Having made contact with Trevor he made it his business to come to the house that same day & gave us great advice & peace of mind as to how to go about our claim & thoroughly investigated the damage. His advice was very helpful and guided us how to go through the process
Grainne Howley
Grainne Howley
10:35 27 May 22
I would highly recommend Trevor’s very professional service. We had a fire at home, needless to say that it could have turned into an extremely stressful situation. This was the first time that I had to deal with such a situation, fortunately Trevor was recommended to me. Trevor was great to deal with throughout the ordeal, he knew what to do and how to do it. He got our insurance claim sorted quickly and efficiently. He saved us from an horrendous amount of stress. If I had deal with the insurance loss adjuster the out come would have been a lot different because I didn’t see all the damage that was caused. Trevor was very thorough and a pleasure to deal with.We had a good out come and now we can put our energy into rebuilding our home. We didn’t have the stress of endless paper work and phone calls and worry and that was invaluable. A great service!
Ellen Brophy
Ellen Brophy
20:04 26 May 22
After a major leak was discovered in our home Trevor was recommended to us.From our first meeting we were impressed at how he explained the process for putting a claim through our Insurance. He arranged all the paperwork, he met with the loss Adjustor from the Insurance Company at our house.He recommended Companies we could use to do the repairs who are excellent.When another problem was discovered during the repair work Trevor went back to the Insurance Company who agreed to meet the extra cost incurred.Trevor's calm manner helped u through a very stressful experience.
Hilary Jordan
Hilary Jordan
17:38 16 May 22
From my first phone conversation with Trevor I felt very confident that I had chosen the right person to help us negotiate through the minefield that is making a claim through your home insurer. Trevor's colleague Craig visited our home and was very sympathetic to our situation after a burst mains pipe. He explained everything he was doing and then dealt with the loss adjustor from our insurance company reducing our stress. We were kept informed during the entire process and even though we were dealt a bit of a curve ball, Trevor negotiated the best result for us and we can't reccomend ICS enough. It was the best decision we could make. As an add-on we would urge anybody reading this review to look at and review your home insurance and protect yourself against underinsurance. Thank you Trevor & Craig
Helen Halpin
Helen Halpin
22:44 08 Feb 22
I can’t recommend Trevor highly enough. After a house fire in Jan 2022, we had no idea what to do next. Thankfully, Trevor was recommended to us, and despite it being a bank holiday, he called to the house and provided all the reassurance we needed at a difficult time. Trevor is exceptionally professional, took care of all the paperwork, navigated through the tricky process with the Insurance company and kept us updated every step of the way. 5* service.
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