Pet Insurance · October 17, 2021 1

How Your Dog Can Affect Your Homeowners Insurance Rates

How Your Dog Can Affect Your Homeowners Insurance Rates

Regardless of how much you adore your dog, certain breeds may increase the cost of your homes insurance.

Premiums are linked to risks for businesses that provide homes insurance. A property with a trampoline or pool in the backyard, for example, may cost extra to insure. This is because both provide a greater risk of injury and raise the likelihood of a homeowner filing a claim. Dogs are exactly the same. While a breed of dog considered low-risk may not have an influence on the cost of homes insurance, some may. Worse, insurance companies have the right to refuse coverage to a homeowner if their pet is deemed too high-risk to insure.

Insurance companies are concerned about certain breeds.

According to the Animal Health Foundation, homeowners who own one of these breeds may find it more difficult (or expensive) to obtain homes insurance:

*Akita
*Alaskan Malamute
*American Pit Bull Terrier
*Chow Chow
*Cane Corso
*Doberman Pinscher
*German Shepherd
*Great Dane
*Presa Canarios
*Rottweiler
*Siberian Husky
*Staffordshire Bull Terrier
*Wolf hybrid

Insurance firms base their prices on research indicating which breeds are more likely to get into problems, regardless of whether a dog has the nicest temperament in the world and has never demonstrated an ounce of aggressiveness.

As they look for homes insurance, homeowners with a “limited breed” should expect a few things.

Denial :

A homeowner may apply for insurance only to be turned down because of their dog’s breed. This is especially true if the pet has an aggressive history. It’s essential to remember that even if someone gets homes insurance and subsequently adopts a restricted breed, an insurer may refuse to renew coverage when the renewal period comes around.

Exclusions :

A policy may be offered by an insurance provider, but it will include exclusions. That implies the dog’s damages would not be covered. For example, if a dog attacks someone or destroys property, the damage would not be covered by the homeowner’s insurance policy. But, like with any homeowners policy, if lightning strikes their roof or a burglar takes the family silver, the loss will be compensated. Only losses caused by the dog would be excluded.

Premiums are going up :

When an insurance company raises a premium, it’s to offset the increased risks they’re incurring by giving coverage. Insurers raise rates to minimize losses since particular breeds are known to bite or become violent. A homeowner should expect to spend more in premiums if one of the high-risk dog breeds is part of the household.

What should you do if your insurance provider refuses to cover you?

A homeowner may make a variety of costly insurance blunders, including not having enough coverage. When one provider refuses to work with them, homeowners have alternative options.

Compare insurance companies: 

The insurance company’s rules differ. Homeowners who have been denied coverage by one provider should shop around to find a more forgiving insurer. The following insurance companies are known for being dog-friendly, which means they are less likely to refuse coverage based on a dog’s breed:

  • Allstate
  • Amica
  • Chubb
  • Fireman’s Fund
  • Liberty Mutual
  • Massachusetts Fair plan
  • Nationwide
  • State Farm
  • USAA

Perform a DNA test :

At-home DNA testing is offered if a homeowner is unsure about a dog’s breed. There are a variety of DNA testing brands available, with prices starting at $60. If it is discovered that a dog is not a member of a high-risk breed, the owner should inform the insurance provider and submit DNA evidence.

Special coverage can be purchased :

Assume a homeowner is unable to get insurance to cover a pet or is concerned that the homeowners policy’s coverage is insufficient. It’s time to check into a canine liability coverage in such scenario.

Canine liability insurance protects tenants and homeowners from damage caused by a dog’s clawing, gnawing, or biting. It shields a homeowner from legal ramifications in the event that their dog bites someone. It does not cover accidents to the homeowner or members of their household, as does conventional homeowners insurance.

The cost of a policy can be as little as $10 per month, depending on the amount of coverage and deductible the homeowner selects. However, like with any insurance coverage, shopping around is a good idea.

Nothing compares to having a canine companion, as any dog lover can tell you. However, owning a pet isn’t inexpensive, especially if it’s a member of a restricted breed. Property insurance may safeguard a homeowner from financial loss while still keeping money in their bank account.

Selecting the Most Appropriate Homeowners Insurance to Protect You :

Insuring your house, no matter where you reside, is essential for safeguarding your money in the case of a disaster. You want to ensure you have the correct homes insurance coverage for your circumstance .