Anyone here work in the insurance industry?

[ER_STL]

This is a bit of a long-shot but I figured I'd give it a try. We've got hail and wind damage to our roof and after talking to our insurance agent, they're likely to pay for a new one should we file a claim. My concern is that we've had two claims already in the last 8 years ($2k in 2012 and about $7k last year). I've heard that too many claims can lead to changes in your rates or a cancellation of coverage in the future. I've also heard that apparently Underwriting has a lot of say in this, but to date I've been unable to find any way of talking to them.

My question is simply this: can someone tell me if there's any way to determine whether or not I'm likely to lose my coverage if I file another claim (~$14k or so)?

[mc1911]

This is a bit of a long-shot but I figured I'd give it a try. We've got hail and wind damage to our roof and after talking to our insurance agent, they're likely to pay for a new one should we file a claim. My concern is that we've had two claims already in the last 8 years ($2k in 2012 and about $7k last year). I've heard that too many claims can lead to changes in your rates or a cancellation of coverage in the future. I've also heard that apparently Underwriting has a lot of say in this, but to date I've been unable to find any way of talking to them.

My question is simply this: can someone tell me if there's any way to determine whether or not I'm likely to lose my coverage if I file another claim (~$14k or so)?

Re: your original question, I'm not currently in the insurance biz but was for about 10 years in FL. It really just depends on the guidelines of each carrier and also the nature of the claims is considered. Water claims are sometimes considered differently, for example. There's really not any way to know for sure.

Not to nitpick the past, but I would encourage you to avoid small claims like the $2k you referenced. Use insurance for the big stuff like the $7k and your current $14k. I used to council people that way back when I was in the biz. Some of them didn't want to hear it - that's what my insurance is for!! Really, your home insurance is to protect the most expensive investment most people will ever own, not to cover the hundreds or even low thousands of dollars in minor issues.

My thought on your current situation - Worst case, you end up having to find another carrier and risk paying more. You won't pay $14k more and you'll never get a cheaper roof than whatever your deductible is.

[TDA]

You're probably not going to lose coverage, but your rate might go up. The fun trick you might experience is your carrier telling you "absolutely your rate won't go up" until maybe the week before it's time to renew your policy. The idea is that you can agree to the increase, or face a gap in coverage if you decide to shop. Carriers do this more with commercial customers, but it is something to look out for- if you have the bandwidth, shop before your policy expires and have some options. I think it's a more simple, abstract model as a homeowner, after all you don't have OSHA logs and an experience modifier, but insurance companies aren't anyone's friends.

[ER_STL]

Thank you both for your replies.

Not to nitpick the past, but I would encourage you to avoid small claims like the $2k you referenced.

Heh, this is still a bit of a sore spot for me. That claim was submitted on our behalf by our (previous) agent's admins. We had been asking if it were possible to have an adjuster come out and look at our roof before filing the claim to confirm whether or not to move forward because, as you've pointed out, we didn't want a petty claim on our records. Low and behold, the claim was submitted and our roof was deemed damage free. It still bugs me....lol.

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[JclInAtx]

I think this depends on your state. We replaced our roof due to hail damage and were told that in Texas the insurer could not raise your rate. They could raise rates across an area to distribute costs, but not a specific policy holder.