Quote:
Originally Posted by Joe C.
If you have a car accident and make a claim, your premium the following year goes up. Everybody else's insurance doesn't go up because of your accident.
Should be the same for homeowner insurance. You put in a claim for home damage, your premium goes up. Mine shouldn't.
Easy peasy.
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Not really. It depends upon the type of claim. Fire? yes. But many homeowner's claims are caused by conditions that affect large areas at once, such as storm damage, and roof damage from sun and heat.
The fact that your neighbor had a fire may not reflect at all upon the likelihood of you having a fire. The fact that there are hundreds of claims per year in your geographical area from lightning strikes and high winds due to thunderstorms probably does reflect upon your risk.