A Man’s Best Friend Is Your Insurance Company’s Biggest Expense

A dog bite occurs every 6 seconds in America and in 2013 over one third of the money paid out in homeowners claims were paid out due to dog bites.

A total of $498.7 million in claims dollars were paid out to defend and compensate those injured from dog bites. Even though the number of dog bite claims has remained flat over the last few years, the cost of claims have certainly gone up!

In most courts having a dog is called “assumptive liability” which means that the owner of any dog is 100% responsible for any injuries the dog causes -no questions asked. And for this reason, insurance companies refuse to insure certain dogs who have the naturally propensity to bite or attack.

Insurance companies may deny you from getting homeowners’ or renters’ insurance because of your dog, even if you so claim that “my dog is a good dog.” This means you’ll have to go find a carrier that will cover your dog — which is usually more costly than what you would expect to pay.

To add to the mix, since you get a discount for having your homeowners and auto insurance with the same company, this could mean you now need to change auto insurers as well.

Other insurance companies may still give you coverage but your premium will simply increase.

What dog breeds carry the biggest risk?

Here is a list of dog breeds that most companies will not insure:

  1. Pit Bulls & Staffordshire Terriers
  2. Doberman Pinschers
  3. Chows
  4. Rottweilers
  5. Presa Canarios
  6. German Shepherds
  7. Great Danes
  8. Akitas
  9. Siberian Huskies
  10. Wolf-hybrids
 

The first six dog breeds listed above are the most denied by insurance companies. All companies are different and may classify other breeds more or less risky. Your agent should have the answers.

What if I can prove that my dog is a good dog?

If you own one of the dog breeds listed above, you are probably saying that this rule doesn’t apply to you because your dog is a good dog.

Even if you can prove that your dog is trained and well-mannered insurance companies can only follow stats on dog bites. Besides, these breeds are not only the most likely to bite, they also cause the most harm. So your dog may be a baby most of the time, but when they do bite it usually does major damage, therefore a bigger claim is paid.

Do I have to tell the insurance company about my dog?

Some people try to hide the fact they have a certain dog breed, but this is risky. If something happens with your dog in your home and you didn’t tell the agent or company, the insurance company may deny your claim. That could cost you thousands of dollars out of your pocket. It will also cause you to be canceled and you may not be able to get insurance in the standard market.

In summary, we all know how valuable a man’s best friend is to the home or family. We are not suggesting for you not to have a “risky” dog, but you should call your insurance agent or your insurance company to find out whether they cover the breed, and if not, what it will cost to get a homeowners or renters with a company that does.

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