3 Ways Home Insurance Helps Pets Owners
When pet owners think of home insurance, they instantly think of protection against natural disasters such as fire and extreme weather or man-made issues such as vandalism and theft. Many homeowners who have pets are unaware of the benefits of having home insurance to cover specific issues surrounding their four-legged family members.
To get clarity on the subject and learn how home insurance can help pet owners, we partnered with Foxquilt– a Canadian financial technology company focused on using big data and machine learning to empower social groups to save on Home Insurance.
Your pet hurts or injures another person or animal
In the event your pet ever harms or injures another person or someone else’s pet, your home insurance will typically cover medical expenses or any civil suits that occur as a result of it.
When it comes to dogs, homeowner’s insurance typically covers dog bite liability expenses up to the liability limits, which averages between $100,000 to $300,000 USD. However, dog owners are responsible for all damages above that amount if the claim exceeds the limit. Insurance will always look at each claim on a case-by-case basis, assess the events that led to the bite, and factor in any local laws. It’s also often a good idea for homeowners with dogs to either increase their liability coverage or buy an umbrella policy. Additionally, most homeowners’ policies cover unpaid dog sitters or dog walkers if your pet injures someone while in their care.
Wild or exotic pets may or may not be covered under your homeowner’s insurance. If your policy does cover exotic pets, you might need to increase your liability insurance coverage.
Your pet causes damage to a neighbor’s property
In the event your pet damages a neighbor’s property, the liability coverage inherent in typical homeowners’ policies could help pay for the repair or replacement bills. This coverage could also pay for your legal defense if a lawsuit should arise, as it’s designed to cover your personal liability if either you or your pet accidentally injure someone or if the damage caused to another person’s property is severe.
Your pet causes any damage inside your home
Most homeowners’ policies don’t cover the damage your pet does to your own personal belongings or property. However, there are a few insurers out there that do, fortunately, cover contents damage by pets, and coverage varies between each. Some cover pet accidents but exclude chewing, scratching or tearing. Others cover all the ways your pet could cause damage but may require you to purchase a higher-tiered policy.
In addition to its already broad area of coverage, homeowner’s insurance offers a lot of financial protection in the event your beloved pet does any damage or harm to any other animal or person. Although it is certainly possible to get affordable homeowners insurance, your eligibility and policy options may differ depending on certain factors, like if your pet is a certified service or emotional support animal, the number of pets you have, your pet’s behavior or history or the breed of your dog. Some insurance companies may even work on a case-by-case basis.
If you’re a pet owner and looking for a simple way to get comprehensive, affordable homeowners insurance, Foxquilt can help you save up to 25% on your monthly insurance premiums — all you have to do is join one of our social groups, like Pet Lovers! We work with a number of insurance companies with different pet regulations and can help you find the right insurance for your needs.