Your new best friend finally arrived home from the local animal shelter, and he’s taking in his new surroundings, appreciating the softness of his bed and the critters outside the living room window. Meanwhile you’re going over the checklist in your head, again.
Buy treats and food – check. Schedule an appointment with your veterinarian – check. Register your pet with the city or county – check. Introduce him to your family, neighbors and even Facebook – check.
But, are you forgetting something? Or rather, someone?
Your independent insurance agent needs to know about your new furry friend, too. That’s because being a pet owner may make you liable for injuries or damages your dog or other pet may cause. In 2014, more than one-third of all payouts on homeowners insurance claims resulted from dog bites and other dog-related injuries, according to the Insurance Information Institute. The average cost per claim exceeded $32,000.
Would your insurance cover such a claim? Or would you have to tap into your savings or 401k to cover the costs? As with most things insurance-related, it depends on the specifics of your policy and of the situation itself. So, let’s look at three examples when you may or may not have coverage for a dog bite:
Hey, we get it. You just can’t imagine your beloved companion causing serious harm. But, even the most socialized and well-behaved pets can lash out when they feel threatened, and medical costs from serious injuries add up quick. So, before it happens, put the insurance coverage you want in place to protect your assets. Your independent insurance agent can help.
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