Should I file a claim on my homeowners insurance? It depends on the circumstances. Homeowners insurance is designed for a “sudden and accidential loss” but it is not a maintenance policy. Filing too many claims will cause your rate to increase or in some situations your policy will be cancelled.

Use common sense. If your $600 lawn mower is stolen and you have a $500 deductible, you should probably not file a claim. Even though you will receive a check for $100 your premium may increase by this amount or even more. Filing small claims will cost you more in the long run. Homeowners insurance is very important but it’s designed for the big event.