Dog ownership has many wonderful benefits. Even dogs that are considered to be high-risk bring happiness and joy to their owners. However, owning a dog that insurance companies consider to be high-risk can create problems when you try to purchase affordable homeowners insurance. Insurance companies often refuse coverage to homeowners who have dogs that are breeds that are traditionally thought of to be more dangerous or aggressive. However, owners of these dogs are not without hope. You don’t need to sacrifice having decent homeowner’s insurance for the sake of a beloved pet.
Why are insurance companies often reluctant to insure high-risk dog households?
Millions of people every year are bitten by dogs and the claims resulting from these bites cost insurance companies a lot of money. Research conducted by the Massachusetts Society for the Prevention of Cruelty to Animals (MSPCA) indicates that insurance companies pay out $250,000, 000 in dog bite claims annually, with an average claim cost of approximately $12,000 each. Refusing to insure a home with a dog that is considered to be high-risk is one way insurance companies try to eliminate their risk and reduce that cost.
How a dog bite affects homeowner’s insurance costs
Dog bites are common occurrences. Even though all dog bites do not result in a fatality, all dog bites need to be treated seriously. Dog bite claims keep insurance companies busy, as they account for more than one-third of all homeowner’s claims. Since insurance companies are required to pay out a significant amount of money due to dog bites, they enact strict regulations as a means of controlling their costs. One way insurance companies protect themselves is by putting restrictions of specific breeds of dog, referring to them as “aggressive”. Some high risk homeowner insurance companies are willing to offer insurance for a home, regardless of the breed of dog that resides there. However, there is generally a higher premium cost associated with owning a breed that is considered to be aggressive.
Are breed-specific policies a bad idea?
Some insurance companies offer breed-specific policies at a higher rate than traditional policies. It is not necessarily a wise idea to purchase a policy such as this, though. The MSPCA offers the following reasons why these policies are not all they are cracked up to be:
Tips to getting good homeowner’s coverage with a high-risk dog
Owning a high-risk dog does not mean that it is impossible to find a good insurance policy. But, some legwork and a little bit of knowledge can go a long way to finding a good policy. Here are some tips on how to find a high-risk homeowners insurance that does not ignore your four-legged friend:
Going uninsured is never a good option. If you own a high-risk dog and need affordable homeowners insurance coverage, Marine Agency can help you. We have been in the business of insuring people for almost a full century. We specialize in offering insurance that is difficult to obtain and can provide you with sufficient homeowner’s coverage, regardless of the breed of dog you own.
If you need homeowner’s insurance and own an aggressive or high-risk dog breed, don’t fret; contact Marine Agency today. We can help you.
422 US Hwy 22 W, Unit 7
Whitehouse Station NJ 08889
Toll-Free: 84-INSURE-NJ (844-678-7365)
9 AM - 5 PM , Monday - Thursday;
9 AM - 4 PM, Friday
PO Box 125
Whitehouse Station NJ 08889
Toll-Free: 800-35-MARINE (800-356-2746)