Dogs Could Complicate Getting Homeowners and Renters Insurance

Last modified: January 22, 2021

Roughly 40% of US homes have dogs, making them as common as children in US households. Nevertheless, having dogs isn’t all fun and games as recent reports indicate that they could, in fact, complicate matters when it comes to purchasing insurance. 

For instance, there are certain breeds that make it increasingly difficult to get either home or renters insurance. Meanwhile, some dog owners might get lucky enough to get coverage but are more likely to face higher insurance costs than those who don’t have dogs. 

According to State Farm, dogs bite — and a lot of them do that. Also, according to reports, dog bites and other dog-related injuries cost the insurance industry some $675 million in 2018 alone. Meaning, a third of all homeowners’ liability claims have been allocated to dog-related injuries. Also, that year in South Carolina, the average amount paid for a dog bite claim was $39,017, which translates to approximately $11 million statewide.

Indeed, dog owners who don’t have liability insurance could end up facing financial challenges if their pets cause harm to others. Nevertheless, there are specific breeds of dogs that could make it hard to get coverage. These include Rottweilers, pit bulls, and wolf hybrids. 

Several homeowners agree that dogs could be unpredictable — hence why getting insurance is a responsibility that owners should do to lower financial risk and ensure others’ safety. For dog owners who are seeking coverage, it’s well worth noting that some insurers may refuse to write you a policy. On the bright side, others might provide you with insurance but the coverage would exclude the dog. Home insurance companies have varying restrictions, so shop around to find some of the best options out there.

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