When you are searching for home insurance quotes, one of the questions you will likely be asked is to detail your previous policy history. This is done because insurance companies want to know about your track record as a homeowner. If someone has a history of owning a home and having insurance with a minimal number of claims, they are more likely to be able to find cheap home insurance.
On the other hand, if someone has filed multiple claims in the past, they are more likely to have trouble getting a favorable home owner insurance quote. In fact, some insurance companies may choose not to renew policies if a homeowner has a history of claims. This is why many experts recommend not filing claims on minor damages and just paying the money out of pocket. If the difference between the deductible and the cost of repairs is just a few hundred dollars or less, you’ll probably end up paying more in increased premiums down the road than you would save by filing a claim.
