Home buyers, especially first-time buyers, may not realize that man’s best friend may increase the cost of owning a home. Depending on the breed, your pet may raise the homeowners insurance premium or result in policy cancellation. Some insurance companies do not cover what they consider to be high risk dog breeds. These black listed canines are more apt to cause injuries that result in insurance claims. When insurance does not pay, the homeowner is left holding the doggie bag and the liability.
Aggressive breeds deemed more likely to be vicious are considered high-risk to insurers. The liability is too great for the carrier to accept the risk associated with possible claims. Insurance companies designate high risk breeds based on the number and dollar amount of dog injury claims paid.
The following dog breeds have been on un-insurable lists in recent years:
- Alaskan Malamutes
- Cane Corsos
- Chow Chows
- Doberman Pinschers
- German Shepherds
- Great Danes
- Presa Canario Bulldogs
- Rhodesian Ridgebacks
- Saint Bernards
- Siberian Huskies
- Staffordshire Bull Terriers aka Pit Bulls
- Wolf Mixes
This information may be helpful if you don’t already have a furry friend on the end of your leash but what if your pet already sleeps at the foot of your bed? If your pet is indeed on the un-insurable list you have options. Insurers treat dogs and dog owners differently so comparison shop. Another possibility is a dog liability or umbrella liability insurance policy. These are standalone policies that may provide the specialized coverage you need.
It is important to be both a responsible dog owner and home owner and carry appropriate coverage.
MTC Federal Members enjoy the benefit of access to TruStage Insurance. TruStage provides homeowners, liability, life, auto and AD&D protection at a discount for Credit Union Members. If you are already a member please call TruStage at 855-426-4862 for more information. Mention Savings Discount Code MTC2115 when calling. If you are not an MTC Federal Member, join now online, call 800/442-7792 or visit a local branch.