Here’s what you need to know about pet-related liability issues and your homeowners insurance coverage.
While you might think that your dog would never even hurt a fly, dog bites and other pet-related liability issues are actually more common than you might think. In fact, over 4.5 million instances of dog bites and attacks are reported every year. So, this begs the question: What should I do if my dog causes injury to another party? Here’s what you need to know about dog bites and other pet liability issues when it comes to your insurance.
Dogs and Homeowners Insurance
Your pets are technically covered under your homeowners insurance policy. However, many insurers will refuse to extend coverage to certain, “dangerous” breeds of dogs. This is true even if your dog has never shown signs of aggression or been involved in a pet-related liability issue before. If your insurer refuses to cover your pet, you do have other coverage options available. You may be able to get your pet covered by adding an endorsement onto your homeowners policy. Otherwise, you can secure your pet their very own policy.
If a Bite Occurs
If the event seems minor, you might be tempted to handle the costs on your own. This seems like an attractive option because it would help you avoid a lengthy claims process and premium increases. However, this is actually a risky move. Failing to disclose a pet-related liability issue to your insurer could violate the terms of your policy, giving your insurer the rights to cancel your policy. Additionally, paying out-of-pocket can leave you vulnerable to future claims from the injured party. For instance, if they decide to sue you for damages after you have paid for their initial medical treatment, you wouldn’t able to access your insurance coverage at that point. This would leave you to cover your legal and settlement costs all on your own. So, if your pet is somehow responsible for third-party injuries or damages, make sure you report it to your home insurance provider.
This is what you need to know about pet-related liability issues and your homeowners insurance. Do you have further questions regarding your personal coverage? Then contact the experts at ISU-Wissink Insurance. We are ready to assist you with all your coverage needs today.