I've had 3 clients in the last week ask the same question - "Will my home/rental property/commercial property rate go up if I have a claim?"
Don't confuse property rates with auto insurance rates! Unlike auto insurance, where your rates can get "sur- charged" based on tickets and accidents, property insurance rates cannot be sur-charged.
Property Insurance rates are "filed" rates with the NY State insurance dept. and are usually based on a per $1,000 of value rate. This "flat" rate must be used for all properties of similar usage.
Meaning, a 1 or 2 family home will be rated similar, a 3-4 family home will be rated similar, apartment buildings will have one rate, a mix-use building will have one rate and a warehouse will have another. There are too many other types to list them all here but you get the general idea on how rates are determined.
While an insurance company cannot sur-charge you for claims, they could drop you (non-renewal) if they determine excessive claims have been paid out. The CLUE reports do go back 5 years, so that is the usual history most insurance companies use to determine insurability.
If ever in doubt, please call our office - 684-3203. That is what we are here for, to help you understand the confusing language of insurance.