How does insurance cover damage to shared property? (e.g. a fence)

[idahobangbang]

Last week a storm blow over 100 feet of our wooden fence. It will cost about $3700 to repair.

My neighbor and I agreed to each make a claim on our homeowner's insurance.

Does that mean that we both pay the $1000 deductible?

Would it make more sense for just one of us to claim it?

(But then that person's rates go up. What is a fair exchange?)

 

[compwiz02]

@idahobangbang You'll both likely be responsible for your full deductible.

Even if only one of you claims it, that person will only get half the cost as it's a shared fence.

Then there's the fact fences are usually acv only. You might be looking at $400 payment if you're lucky.

If it was me, I'd be paying this out of pocket.

 

[mlshelton1975]

@idahobangbang /@compwiz02 is right on how this would would play out. I wouldn't suggest filing a 3,700 claim when most homeowners have at least a 1,000 deductible, so no way in hell I'm filing a claim for half that payout or less.

 

[johnredeemed103]

@idahobangbang If it’s a shared fence you will not be able to claim more than 50% to your insurance. Some carriers will reduce the deductible to 50%.

However, as someone else said…is it worth it for that small payout when your premium will go up?