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The Effect Of Pets On Home Insurance: Aggravating And Mitigating Factors

Pet ownership is one of the crucial factors that affects home insurance. As a pet owner or a prospective one, educate yourself on this issue so you can take measures to minimize the effect of pets on your coverage rates.

The Aggravating Factors

Although pets can increase your home insurance costs, the effect is not the same for all pet owners. A few factors determine how much your pet affects your home insurance. Below are some of these factors.

The Type and Breed of the Pet

Some pets are more dangerous or more likely to cause severe injuries than others. The dangerous pets are likely to drive up your rates more than other pets. Most insurance companies consider exotic pets, such as snakes, among dangerous pets. Also, some dog breeds (such as pit bulls) are considered more dangerous than others.

The Sizes of the Pet

An attack from a big pet is likely to cause more extensive injuries than an attack from a small pet. For example, a huge dog can tear your limbs into shreds while a small dog may just leave you with a few wound punctures. Therefore, home insurance companies are more cautious about big pets than smaller ones.

The Number of Pets

The number of pets you own also matters because the risk of injuries is proportional to the number of pets you own. If you own six dogs, visitors to your property are more likely to be attacked than if you only have a couple of dogs. More animals increase the risk that one is aggressive or can be easily provoked.

Mitigating Factors

Below are some of the things you can do to minimize your pet's effect on your home insurance.

Choose Wisely

The first thing is to choose a pet that home insurance companies don't consider dangerous. Avoid big, exotic breeds of pets and keep a limited number.

Train Your Pet

Whichever pet you decide to keep, have it trained by a professional. An aggressive but well-trained dog is better than a dog that looks docile but has not been properly trained. 

Vaccinate Your Pet

Some diseases affect both animals and people; rabies is a good example. If an infected animal bites a person, the person may become infected with the same disease and experience life-threatening complications. The medical bills and associated damages from such an injury would be huge. Therefore, insurers expect pet owners to vaccinate their pets to avoid the risks of such huge damages.

Prevent Pet Attacks

Lastly, the more that your pets attack, the higher your future coverage rates might be. Therefore, take the necessary precautions to avoid attacks. Warn your guests not to pet your animals, don't leave the animals alone with kids, and keep your dogs on a leash in public places.

For more information on how pets work with homeowners' insurance, contact an insurance company.