Homeowners insurance is something everyone needs to have but no one wants to use. As it turns out, insurance companies feel the same way. Homeowners who file too many claims in the eyes of their insurers can find themselves slapped with much higher premiums for being “high-risk.” Unfair as it may seem to homeowners, the regulatory climate surrounding the insurance industry in most states makes it necessary for them to use caution before filing a claim. Anyone unlucky enough to need the services they pay their homeowners insurance provider for more than once a decade may be “rewarded” with exorbitant premiums or the outright cancellation of their coverage.

That’s why it’s essential for homeowners to protect themselves by knowing how to file an insurance claim judiciously. There are times when filing a claim for damages is the right choice, and other situations in which it can become more trouble than it’s worth. The price of using your homeowners insurance may be higher than the costs of the damages, in the long run.

Before filing a claim for any reason, take a moment to consider the advice in the accompanying checklist — it provides important do’s and don’ts to consider.