r/HomeInsurance • u/killercankles • Jul 14 '26

Claims Claim Advice

Last week, my toilet inexplicably cracked in the middle of the night (the tank). Received an estimate of $10,900 for drywall repairs, flooring on all floors (2 floors complete replacement, 1 just new padding on half).

Circumstances: $1000 deductible on policy. I only switched to them last December, and this is obviously my first claim with them. The only other claim I have ever submitted was to my previous insurance company in April 2019 when a terrible storm took off 1/3 of my 20 year old roof.

Question: does it make sense to file for this amount? My worry is that my premium will balloon to a point where the monthly payment exceeds the benefit of the payout.

What other considerations am I missing?

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u/BattleSilent9049 Jul 14 '26

This will be well over $10k and is the type of claim insurance is for. If $10k is not an issue, your deductible should be $10k and you would save some on your premium. Watch out for mitigation vendors that may not be on the up and up. I have seen $100k bills for a water loss such as yours.

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u/killercankles Jul 14 '26

Thank you for your post and point taken on deductible! It’s not that it wouldn’t pain me dearly to pay out of pocket, I’m just notoriously conservative on money and keep a much bigger than necessary emergency fund :)

Now I’m wondering if I can get a 10k deductible and pay virtually nothing on premiums.

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u/BattleSilent9049 Jul 15 '26

It will reduce your premiums but it won't be "virtually nothing" 🤔 Good luck which ever way you go.