Did you know that the type of dog you own could affect the price of your homeowners insurance premium? The next time that you think about adopting a new pet, it may be a good idea to consider the cost of your homeowners insurance before making your decision.
According to Forbes, the following eleven breeds are the most expensive to cover under liability insurance.
- Pit Bulls & Staffordshire Terriers
- Doberman Pinschers
- Rottweilers
- German Shepherds
- Chows
- Great Danes
- Presa Canarios
- Akitas
- Alaskan Malamutes
- Siberian Huskies
- Wolf-hybrids
This means that your insurance company could potentially charge you more for your insurance premium if you own one of the dogs breeds listed above (because you are considered to be a greater risk), or they could deny you coverage altogether. Note that every insurance company is different, and each one may treat certain dog breeds differently.
While the pit bull that you own may be very calm and loving, insurance companies are allowed to be discriminatory based on the dog’s breed. The reality is that a German shepherd is more likely to seriously harm the people on your property than a toy poodle. While any dog has the ability to bite or scratch, bigger dogs will have more power behind them that can cause more serious damage.
The more likely it is for a pet to injure someone in your home, the higher your insurance premium will be. Before adopting a dog, it’s a good idea to learn more about the dog’s background. If the animal was prone to biting in the past, they could potentially harm someone in the future.
Insurance companies don’t discriminate against certain breeds just because they’re prejudiced, however. Years of data and statistics back their worries, and since your agent doesn’t have the time to meet every single one of their clients’ dogs to find out how nice they truly are, these companies are forced to make calculations based on past data.
In some cases, your insurer could deny you homeowners or renters coverage based on your dog’s breed. However, it is more likely that the cost of insurance will simply be higher, just as it would be if your swimming pool had a diving board.
Some people may decide to avoid informing their insurance company about a new pet for this reason. However, if something bad does happen with the dog, but you failed to disclose the information that it was living with you and it was covered by your liability insurance, then you could face some hefty fines.
In summation, your insurance company should not deter you from adopting a dog that you love. Instead, it is important to take into consideration the added costs of certain breeds and calculate it into the budget you make for your pet.
If you are concerned about your dog affecting your insurance rate, the best solution is to speak with an insurance expert. Contact any of the agents at TJ Woods Insurance Agency, located in Worcester, MA, so that we can get you the type of coverage that you need at the price you can afford, no matter what type of furry friend you have in your home.
Have you ever had a pet affect the price of your homeowners or renters insurance?
