Buying a home and obtaining homeowners insurance go hand-in-hand. But if you’re a pet owner planning to purchase homeowners insurance, you need to be aware of how this can impact your coverage. Even the most well-behaved pet can act in ways that are unpredictable, which creates risk. That’s why even though you consider your pet a part of your family, your insurer will take a more objective view. This could raise your rates, or worse — make you ineligible for coverage. Here’s what you need to know if you’re both a pet owner and a homeowner.
Dog bites
Did you know that according to a study released by the Centers for Disease Control (CDC), approximately 4.7 million dog bites happen every year? Not only that, but nearly one in five people bitten by a dog also requires medical attention. That’s a pretty huge number when considered from an insurance perspective. Luckily, most homeowners policies cover dog bites and other dog-related incidents. In fact, U.S. homeowners file more than 15,000 claims a year for injuries caused by dogs, with an average payout of $37,000 per claim. For these reasons, many insurers will raise your premiums or restrict your coverage if you own a dog.
Dog breeds
When you’re purchasing homeowners insurance, the breed of your dog does make a difference. According to statistics, there are certain breeds that cause more injuries and costly bites than others. For this reason, insurance companies may restrict which breed of dog can be covered. The most common breeds to be excluded from coverage include:
- Pit Bulls
- Chow Chows
- German Shepherds
- Rottweilers
- Doberman Pinschers
- Great Danes
- Akitas
- Siberian Huskies
- Alaskan Malamutes
- Staffordshire Terriers
- Presa Canarios
- Wolf Hybrids
Be aware that this is not necessarily an all-inclusive list. Different insurance companies place restrictions on different breeds, and some may allow breeds that are listed above. Other insurance companies will base their decisions on the individual dog’s history instead of their breed. And if you live in Michigan or Pennsylvania, insurers are not allowed to profile certain dog breeds. If you’re a dog owner, then it’s important to do your research so you can get the coverage you need.
Other pets
What if you own a pet other than a dog? For typical domesticated pets like cats and hamsters, insurers generally do not increase premiums since these kinds of pets pose much less of a risk. If you own horses or even pot-bellied pigs, they may also be included in your coverage if they don’t pose a high risk. But if you own exotic pets like snakes, reptiles, primates, wolves, or big game cats, they will not be covered by your homeowners insurance policy. In these cases, you’ll need to get exotic pet insurance.
What’s covered?
It’s important to know that although your liability coverage will cover you for damages to another person’s property or bites, it will not cover damages to your own home or injuries to occupants in your home. So if your child is bitten by your dog, you’ll be on the hook for the bill.
Contact Agent inc. today
Are you ready to find a new home for you and your furry (or scaly or feathered) best friend? Then contact Agent inc. at 949-791-8160 or [email protected]. Our agents are standing by to help you discover all the possibilities.