Absolutely not. Homeowner’s insurance exists precisely to cover instances of natural disasters. Utilizing your insurance cannot, in itself, lead to penalties. Insurance rates fluctuate based on the cumulative number of claims within a specific zip code, not individual claims. However, your policy might include a provision for a rate increase in certain scenarios, so it's always prudent to check your homeowner’s policy for this clause.

A deductible is an amount that a policyholder is obligated to pay out-of-pocket as part of their claim. When you file a claim that gets approved, your deductible is deducted from the payout from your insurance company. Think of it as your co-pay, similar to a doctor's visit. The deductible is payable to the contractor.