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When you're in the market for a pet, it might not occur to you to consider your homeowners insurance policy before taking your new pet home. As it turns out, the pet you choose to have in your home can affect your homeowners liability insurance rates.
The Power of Pets
If you bring home a breed of dog that has an elevated history of biting people, then you can expect your liability rates to go up. While you might love your dog and know that it has a sweet, non-aggressive personality, the insurance company is only looking at and evaluating the likelihood that the dog will bite someone and necessitate a medical claim. They base their decision on cold, hard numbers of other dog bites from that breed.
Additionally, if you plan to house the dog outside for a significant number of hours each day, you'll find that your rates go up, as this increases the likelihood of your dog getting out and attacking someone.
Before you buy a pet, make sure you contact your homeowners insurance company to find out the potential ramifications.