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Probation After a Claim

What happens after a claim?
After a claim you can expect your premium to go up and carriers will not be as willing to offer higher limits or favorable terms such as first dollar defense or claims expense outside the limits. When a claim is filed, under a claims made policy, there is a 5-year probationary phase from the date the claim closes. If there are no claims for the next five years, the premium would return to a more preferred rate.

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