Did you know that having a dog could affect your ability to get homeowners insurance? If an insurance company is willing to cover you, having a dog can increase their rates for a homeowners insurance policy. Let’s look at how much coverage you actually need to add to your homeowners insurance policy to protect your four-legged friend before you become discouraged or fear having to stretch your budget for an unaffordable homeowners insurance policy.
Get homeowners insurance with personal liability coverage of at least $300,000 if you have a dog. The breed and size of dog may affect this. You might want to consider personal liability umbrella coverage because some policies have a personality liability coverage cap of $500,000.
It’s best to err on the side of caution and select the highest coverage option when looking for a homeowners insurance policy that will protect you in the event of an incident involving your dog. Continue reading to learn why having homeowners insurance for your dog is crucial and how to locate an insurance provider who will insure your dog regardless of breed.
What to do if an insurance company denies coverage
A homeowner may commit a number of costly insurance errors, such as having insufficient coverage. Fortunately, homeowners have other options if one company rejects them.
Rules vary by the insurance company. If a homeowner is refused coverage by one company, they should shop around to find a more lenient insurer. The following insurance providers are known for being dog-friendly, so they are less likely to refuse coverage on the grounds of a dog’s breed:
At-home DNA testing is an option if a dog owner is unsure of the breed. There are numerous DNA testing companies, and costs start at about $60. When a dog is discovered to not belong to a high-risk breed, the owner should inform the insurance provider and provide DNA proof.
Imagine that a homeowner ultimately is unable to secure insurance to protect a pet or is concerned that the homeowners policy’s level of coverage is insufficient. The time has come to review a dog liability policy in that situation.
When a dog damages a renter’s or homeowner’s home through actions like scratching, chewing, and biting, canine liability insurance provides coverage. If a dog bites someone, it shields the owner from legal repercussions. It does not cover injuries to the homeowner or members of their household, like most homeowner’s insurance policies.
Depending on the homeowner’s choice of deductible and level of coverage, policies can be purchased for as little as $10 per month. However, it pays to compare prices as with any insurance policy.
There is nothing quite as special as a canine friend, as any dog lover will tell you. However, owning a pet is not inexpensive, especially if it belongs to a prohibited breed. Having property insurance can shield a homeowner from financial loss and keep money in their bank account.
Purchase additional coverage
To shield yourself from the liabilities you encounter as a dog owner, you might be able to buy supplemental insurance coverage. Many insurance providers offer sufficient coverage dog liability policies. Remember that adding more coverage will increase your premium, but there won’t be any coverage gaps.
Does Homeowners Insurance Cover Dog Bites?
Many times, whether a dog bite occurs on or off your property, your homeowners insurance will provide coverage. As part of your personal liability insurance, your dog is covered.
It provides a predetermined sum of money to cover medical costs and legal fees resulting from accidents that happen on your property or injuries you or your family cause someone, including a bite from the family dog.
Typically, the minimum amount of personal liability coverage is $100,000. If your dog claim costs more than that, you’ll be responsible for the excess charges yourself. The average dog bite claim in 2019 was just over $44,000, so you will likely not have to worry. However, if a serious injury and a lawsuit are involved, that number could easily break the $100,000 mark.
Even if you think your dog would never hurt a fly, it’s better to be safe than sorry. Over four million people get bitten by dogs every year and many dog bite claims are from first-time offenders.
If an unfortunate incident occurs and you don’t have them on your policy, your homeowners policy won’t cover the claim, and you’ll be responsible for covering the medical costs and defense costs yourself.
Determining who is to blame for a dog bite incident also varies by region of the United States. In some jurisdictions, the owner is automatically liable for a bite, while in others, the victim must demonstrate that the owner knew the dog was dangerous. Review the dog laws and negligence laws in your area to determine which ones apply there.
FAQ
Does having dogs affect home insurance?
There is a possibility that adding your dog to your homeowners insurance will result in a higher premium. This is particularly true if your dog’s breed is included on the insurance provider’s “breed list,” which specifies which breeds they will cover and which breeds have higher premiums.
How much do dogs raise homeowners insurance?
The most typical outcome is an increase in your insurance premiums from the insurer. According to a nationwide ValuePenguin analysis, rates increased by 1% for policyholders with dogs of a particular breed that some insurers deem aggressive.
Do I have to tell my homeowners insurance that I have a dog?
Yes, you must include your dog on your homeowners insurance policy to ensure that your pet is adequately protected against any potential risks. Unfortunately, dogs play a significant role in both your home and the history of your home insurance claims.
Why does homeowners insurance ask if you have a dog?
Pets, including many larger breeds of dogs, represent a potential bite risk for homeowners insurance premiums, which are based on risk. This is why you should tell your insurance provider about any pets you have.