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Is there any chance that our homeowners insurance would cover the damages?

Question:

I have Nationwide Insurance. We just had a bottle of nail polish break all over our den, ruining the carpet. Is there any chance that our homeowners insurance would cover the damages? I have tried to have the carpet cleaners remove the stain.

Angie, Texas

Answer:

Dear Angie,

According to Nationwide spokesperson Bob Cunningham, you can submit a claim for the damaged carpet. Cunningham stressed that the company would start by doing everything it could to restore the carpet to its previous condition. If the carpet can't be repaired, Nationwide would pay your claim to replace it.

However, there are several factors to consider in a claim like this. First, find out what your deductible is. You will have to pay that before the insurance company kicks in any money. Second, find out how much it will cost to repair or replace the carpet. If that amount is less than the deductible, there's no point in making the claim. Finally, bear in mind that insurance companies don't enjoy paying out money. If you make several claims, they can opt to increase your rates or even drop you when your insurance policy comes up for renewal.

When you are contemplating a claim like this one, weigh the costs and benefits. For more information, look at our stories on How to maximize the claims process and One home insurance claim? Not a problem!

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Disclaimer: We are journalists, not financial planners or insurance brokers. Nothing we say should be interpreted as a recommendation to buy or sell any insurance product, or to provide other financial or legal advice.

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