Does making an insurance claim hurt you in the long term?

[Jimi123]

I have a legitimate $140 claim, but I'm wondering if such a claim has an impact on the next policy that I want to buy.

 

For example, with say car insurance, if you make claims, they tend to raise the rate on your next policy or won't insure you. So some people opt to just go out of pocket on minor claims.

 

Is travel insurance the same?

[Kamloops50]

Never heard of increases due to claims. Age does increase the rate .As you get older you pay more.

[sirwired]

Travel insurance companies always, without fail, provide firm price quotes before they have any idea who you are.

[cruiseco]

I have a legitimate $140 claim, but I'm wondering if such a claim has an impact on the next policy that I want to buy.

 

For example, with say car insurance, if you make claims, they tend to raise the rate on your next policy or won't insure you. So some people opt to just go out of pocket on minor claims.

 

Is travel insurance the same?

 

What type of claim and what type of policy?

 

If you're dealing with a "secondary" coverage plan and have a claim for baggage loss or damage they're going to make you file first with your homeowner's/renter's policy. It probably won't happen but I'd call my insurance agent to see how they look at these things -- you might be losing some special discount you've been getting for being claim-free for X years.

[cruiseco]

Also, some of the Travelex plans have the following quirk which I'm sure won't apply to your situation:

 

"If You have purchased a program where the

Pre-existing Conditions Exclusion is waived, We cover

these Pre-existing Conditions up to the Maximum

Waiver Amount provided:

1) This Policy was purchased within 21 calendar

days of the initial Covered Trip payment;

2) You had not filed a claim with any insurer for Trip

Cancellation/Interruption due to a sickness or

injury within 90 days prior to the purchase of this

Policy; and

. . ."

 

That's the only instance that I can think of where a previous claim would keep you from getting a benefit (pre-existing condition waiver) although they would still be happy to sell you a policy at the normal cost without that benefit or you can buy a plan from the same company but using a different underwriter and that exclusion would not apply.

[sail7seas]

What type of claim and what type of policy?

 

If you're dealing with a "secondary" coverage plan and have a claim for baggage loss or damage they're going to make you file first with your homeowner's/renter's policy. It probably won't happen but I'd call my insurance agent to see how they look at these things -- you might be losing some special discount you've been getting for being claim-free for X years.

 

 

In this example, it is possible the deductible on the homeowner/renter policy could be higher than the claim.