Should I File an Insurance Claim?
What Hot Springs Homeowners and Drivers Need to Know
If you’ve ever asked yourself, “Should I file an insurance claim for this?” — you’re not alone. It’s one of the most common questions we get at Sharp Family Insurance, right here in Hot Springs, Arkansas.
The answer? It depends — but there are a few key things to consider before you make that call. This quick guide will help you decide if filing is worth it, or if it might cost more than it saves.
Watch the Video:
We break this down in detail in the video below — click to watch, then keep reading for the highlights and examples.
Before You File: Know Your Deductible
Your deductible is the amount you’re responsible for before insurance kicks in. If the cost to repair your damage is less than your deductible, filing a claim may not help — and could actually hurt your record.
For Home Insurance:
Most Hot Springs homeowners carry either a flat deductible (like $1,000 or $2,500) or a percentage-based deductible, such as 1% or 2% of the insured dwelling value.
- Example: If your home is insured for $200,000 and you have a 1% deductible, that’s $2,000 out of pocket before coverage begins.
If your contractor estimates the damage at $1,800, filing a claim won’t result in a payout — but it will show up on your loss history for the next 5 years.
For Auto Insurance:
Auto deductibles can range from $250 to $2,000. Let’s say you back into your garage, and the repair is $600 — but your deductible is $500. You’d only receive $100, and that small payout could still increase your rates if it’s filed as an at-fault collision.
When It Is Worth Filing a Claim
Here in Arkansas, we see our fair share of hailstorms, tornadoes, and tree damage. If the damage is well above your deductible, filing a claim makes sense.
Examples where filing is worth it:
- You have $10,000 in storm damage and a $2,500 deductible
- Your car has $5,000 in damage from an accident and your deductible is $500
In both cases, your out-of-pocket cost is significantly less than the repair amount — and that’s exactly what insurance is for.
Ask First, File Second
Still not sure what to do? That’s what we’re here for. At Sharp Family Insurance, we love helping our Hot Springs neighbors make smart insurance decisions. Give us a call before filing a claim, and we’ll walk you through your options — no pressure, no judgment, just honest advice.
Sharp Family Insurance
Serving Hot Springs, Arkansas and surrounding areas across Arkansas, Texas, and Missouri
Need help with a claim?
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