How Will My Homeowner’s Insurance Rates Be Affected If I Own a Pit bull?

| October 19, 2016
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On top of the value of the coverage limits, size of the deductible and your home’s value, there are many factors that influence the cost of your homeowner’s insurance policy. These can include the age of the appliances you have installed in your home, whether you have an elevated deck or a balcony, and whether you have tree branches that are hanging very close to your roof. If you really want to get a good picture of the amount you’re expected to pay for your homeowner’s insurance policy, then you need to speak to an insurance agent. Before purchasing insurance, you also need to read the policy’s fine print.

In general, having a pet means there is a possibility that the cost of your homeowner’s insurance policy is going to be negatively affected. After all, the way that the insurer sees it is that having a pit-bull greatly increases the likelihood of someone getting bitten when visiting you and that’s why they try to cover themselves by charging you a higher premium. The higher premium is also impacted by the fact that your dog is part of an aggressive breed of dogs. You may tell the insurer the dog is well trained, but that’s not going to convince them to charge you less.

As for the dogs that usually represent an insurance liability, they are coyote hybrids, wolf hybrids, but also rottweilers, chow chows and pit bulls. Depending on the insurance company you decide to get the homeowner’s insurance policy from, it may also list other dog breeds as liabilities. Usually, no insurance company will issue a homeowner’s insurance policy that comes with liability protection from pit bull bites.

This means that if you want to insure your home, then you need to sign a waiver where the insurer won’t be responsible for covering incidents involving pet attacks/bites. If your dog bites someone, then you’re going to be the one covering the costs associated with the incident. Even if you do sign the waiver, you may still need to purchase an umbrella policy in addition to your current policy.

If you buy your pit bull after you’ve already purchased a homeowner’s insurance policy, you have to inform your insurer about it right away. Upon doing so, they’re going to have you sign a liability waiver and also buy a dangerous-animal rider. If you fail to inform your insurer about the fact that you bought a pit bull, they’ll cancel your policy as soon as they find out about it.

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