Home insurance worth making a claim

adocholiday

Just looking for some opinions on this. We are in our first year of home ownership and have had to had a burst pipe detected and repaired for a total cost of approx. €900 inc. VAT. The standard excess on the policy for this kind of issue is €500. The simple question is is it worth claiming the balance from the insurance or will the impact in terms of having a claim on the policy far outweigh the money we'd get back?



I know with motor insurance that the impact of a claim to premiums is severe and restrictive in terms of moving insurer. Is it the same with home insurance?

The_Conductor

adocholiday wrote: »

Is it the same with home insurance?

Yes- it is similar in nature.
It can rapidly become impossible to move insurer- even with smallish claims.

Cows Go µ

adocholiday wrote: »

Just looking for some opinions on this. We are in our first year of home ownership and have had to had a burst pipe detected and repaired for a total cost of approx. €900 inc. VAT. The standard excess on the policy for this kind of issue is €500. The simple question is is it worth claiming the balance from the insurance or will the impact in terms of having a claim on the policy far outweigh the money we'd get back?



I know with motor insurance that the impact of a claim to premiums is severe and restrictive in terms of moving insurer. Is it the same with home insurance?

First, is that all even covered? I thought most policies covered the damaged caused by a burst pipe, not the repair.

Second, house insurance also has a no claims bonus scale so if you claim, your policy will go up next year and it will be very difficult to move insurer as it will have to be declared.

adocholiday

Cows Go µ wrote: »

First, is that all even covered? I thought most policies covered the damaged caused by a burst pipe, not the repair.

Second, house insurance also has a no claims bonus scale so if you claim, your policy will go up next year and it will be very difficult to move insurer as it will have to be declared.

Well the company that did it said that most of their clients have the option to go through through their insurer so I'm just going off their advice so far. I haven't contacted the insurer yet. I think though based off your responses that I'll just suck this one up. Thanks.

q85dw7osi4lebg

Claimed 1800 in our first year, renewal came in at 600, moved insurer, declared claim, got it for 350.

uli84

Jase Refined Sneaker wrote: »

Claimed 1800 in our first year, renewal came in at 600, moved insurer, declared claim, got it for 350.

And how much was it before it went up to 600?

Alkers

For 400e it probably isn't worth claiming

L1011

I've a slightly odd logic to it - if you need to claim again the claims history is already gone if you have claimed so it doesn't affect it as much. So if I had just renewed and another 11.5 months that something else could go wrong there'd be a higher chance of claiming for a smaller amount than if I was weeks away from renewal.

However - for €400 in either case I'd probably not bother.

Odyssey 2005

Would you claim off your comprehensive car policy for €400 ?.
I'd suck it up,then you have a full NCB on your home policy. I had to claim a few years ago,but it was @ 3/4k so worth it. Ins didnt skyrocket but it did increase.