How Dog Ownership Impacts Insurance Rates

When purchasing home insurance, the company may ask whether you have a dog and what breed it is. The question may also be asked if you are shopping for tenant insurance.

Introducing a dog into your home increases the risk for the insurance company due to the potential for the dog to bite someone or cause damage — you may need higher third-party liability. If you have a specific dog breed, you may have to pay a higher rate, and some companies may not provide coverage for banned or dangerous dog breeds.

In the event of a dog bite, you could face a lawsuit. The bite victim can take legal action to seek compensation for medical costs. This is where insurance comes into play for pet owners. Dogs are considered the owner's property, which makes the owner responsible for any damages caused by the animal. Thankfully, the liability portion of most insurance policies usually covers injuries caused by pets.

It's essential to provide accurate information about your pets to your insurance provider and to keep them updated if you get a new dog. Failing to do so could lead to the cancellation of your entire policy. You may also not be covered if you fail to inform your insurer you have a dog.

Your insurance provider will likely ask for information about your pets' age, height, weight, breed, history of violence, and more. These characteristics will be crucial in determining the amount and cost of insurance coverage you need.

Standard liability coverage for home insurance typically starts at $100,000, but dog owners are advised to increase that amount.

While some insurers consider coverage on a case-by-case basis, some won't cover pit bulls, Rottweilers, or dogs trained to attack. Others will offer you a policy but insist you buy additional liability coverage.

Insurance policies often exclude coverage for damage caused by illegal activities in homes, including pets that violate local laws, such as certain reptiles, big cats, and wildlife.

A dog's behaviour is often more associated with the owner's training than the breed, but certain breeds are still considered risky. Different insurance providers have varying requirements for dog breeds that can impact your coverage:

• Pit bulls
• Rottweilers
• Wolf hybrids
• Chow chows
• Akita
• Alaskan malamute
• Mixed breeds that have rottweiler or pit bull in them
• Dobermans
• Siberian Huskies
• German shepherds
• Staffordshire bull terriers
• American Staffordshire terriers
• Dogs with past aggressive behaviour

Here are some examples of times when dogs would not be covered in your policy:

• History of incidents: If your dog has a biting history, it may not be covered by your insurance policy, or you might need to sign a liability waiver. This means your insurer won't cover expenses if your dog bites someone on your property, and you could be denied a homeowners insurance policy.
• Damage to personal property: Damage caused by your dog to your home or personal belongings may not be covered by your insurance. If your dog chews through drywall or damages a piece of furniture, you might not be reimbursed for the loss.
• If your dog bites or injures you: Personal liability coverage only covers injuries to others, not yourself. This means if your dog bites you and you require medical attention, you won't be able to file a homeowners insurance claim.

Every insurer is different, and you may need to shop around to find home insurance that will cover you if you have a dog that is considered a risk. Although some insurers do not provide home insurance to homeowners with a certain type of dog, many others will, or you will have to purchase additional coverage.

There also may be situations where no insurer will issue coverage. In these situations, you will be financially responsible if your dog causes damage, bites or injures another person or animal.