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Make Sure Man’s Best Friend is Protected by Your Homeowner’s Policy

April 26, 2012 | | Comments 0
Check with your homeowner's insurance policy holder about pet coverage

Check with your homeowner's insurance policy provider about pet coverage

When we think of

homeowners insurance policies, we think of protections in case of disaster, but there are other aspects of the policy which you should be aware of. One of these additional aspects is coverage for your pets. Equifax has a great article explaining how pets and homeowners insurance interact, titled “

Your Homeowners Insurance Policy and Fido.”

Unlike pet insurance, which covers pet health, your homeowners insurance typically covers if your furry (or feathered or scaled) companion causes damage to property or other people. The costs of this damage can be quite high, as the average

insurance claim for an ER dog bite visit amount is $19,000. With such a high price and the potential for even mild-mannered dogs to be protective of their owners or territorial, some carriers limit the amount of coverage they offer or charge additional rates for pets on what they deem to be a high-risk animal list.

It is important to know what pets are on this list and what your insurer’s policy is. This can help you make sound decisions when you are looking for a new pet or help you know your liability. Many large dog breeds are on the common list, including Rottweiler, Pit Bull, Great Dane, Mastiff, Siberian Husky and more. There’s another list entirely for exotic pets, including snakes, alligators, skunks, non-human primates and many more.

Know that the list varies among insurers, so shop around to find the best policy for you and your pet so that your animal companion doesn’t become a financial risk. For other great information about insurance as well as knowledgeable articles about credit, taxes, retirement, real estate and all other matters of

personal finance advice, explore the Equifax Finance Blog.

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