5 plumbing related incidents from my neighbor (they’re DIY queens not structural issues). I’m unclear how they are still insured. Anyway My insurance was able to subrogate the costs to the neighbors insurance and get their money back.
If there are repeated claims is there risk of being dropped even if your insurance gets their money back each time? What happens to me then if I’m dropped? Will this claim history follow the property or me (if I buy elsewhere will this impact me still?) None of the claims have been our fault.
Several not at fault claims on home owners is there risk of being dropped?
byu/Hungryhungryhippos2 inInsurance
Posted by Hungryhungryhippos2
7 Comments
Yes it is very unusual for someone to file 5 claims of any kind. In fact it is unusual to file one (1) claim.
If I were the underwriter, I would drop you if that was in my authority.
> If there are repeated claims is there risk of being dropped even if your insurance gets their money back each time?
yes
> What happens to me then if I’m dropped?
you’ll have to shop for a new carrier willing to insure you given the risk your property presents
> Will this claim history follow the property or me
both
Yes, I would expect that you will be non-renewed. Multiple plumbing claims – regardless of “fault” – indicates a serious, ongoing problem, which will likely result in mold. Your neighbors will get non-renewed as well, if they have not been already.
Yes, in fact 5 claims one location is more than I have ever seen in my career. When you get dropped you may find insurance with a non-standard carrier – possible water exclusions, high premiums, high deductibles.
Sorry for the bad news and I hope I’m wrong!
They can never get back the time and resources they spend handling your claims or subrogating the other insurer, so yes, absolutely. They’re losing money on your policy whether they are the ones paying to repair or not.
Fault doesn’t matter so much in home claims. If your insurance writes a check, it’s a claim on your record. whether it be a hail claim or you accidentally burning your house down with fireworks, it’s a claim and will impact premiums and or eligibility. Certain claims are more likely to get you dropped than others though.
There’s no “fault/not at fault” in property claims lol. Yes there’s a risk they could drop you. Your insured property is a risk to them, the risk factor is your neighbor. You would have been better off trying to go directly through your neighbors insurance. It’s sucks since it’s not your fault but that’s the reality.