Insurance - To file a claim or NOT to file a claim?

[Jonathan Taylor Smith]

One of my rental properties suffered water damage and I'm wondering if I should file an insurance claim or just eat it...? I've never filed an insurance claim on a rental property, so I do not know what impact filing a claim will have on my insurance rates for this property and other rentals that I have insured with the same and other companies. The event was triggered when a polybutylene pipe feeding the upstairs bathroom burst over the living room ceiling while my tenant was at work. So for hours water rained down, damaging the living room ceiling, carpet / padding - and drained down to the basement, damaging the drop ceiling tiles, insulation and more carpet / padding. It does not appear the sub-floor or walls were damaged and no apparent mold. It will all be fixed for between $4,500 to $6,000 and my deductible is $500. I've also got a plumbing bill for fixing the pipe that is not covered by insurance. To file a claim or NOT to file a claim?