Property insurance: is it true amount of claim (especially first claim) will not affect insurance premium?

[Nir]

Hi,
Is it correct that number of claims affect insurance premium more than amount of each claim? so for example if I have one big claim total $50,000 it will still be considered as ONE claim and therefore not affect future insurance premium as much as say 3 small claims of $10,000 each!?
If not accurate, is it at least correct for FIRST claim - meaning first claim will not affect insurance regardless of amount?
(assuming not at fault claim like tornado). THANKS.

 

[dplummer]

[quote name=`investmart` date=`Aug 24 2009, 12:41 PM` post=`64432`]
Hi,
Is it correct that number of claims affect insurance premium more than amount of each claim? so for example if I have one big claim total $50,000 it will still be considered as ONE claim and therefore not affect future insurance premium as much as say 3 small claims of $10,000 each!?
If not accurate, is it at least correct for FIRST claim - meaning first claim will not affect insurance regardless of amount?
(assuming not at fault claim like tornado). THANKS.
[/quo

The Insurance Co. can decide after any size $$$ of claim to: a) Increase premiums
b) Resrict coverage so as NOT to include a certain peril
c) Increase deductible on all or certain perils
d) Not to renew coverage at all

Doug