Have you seen all the cute ads this month showing adorable puppies with red ribbons around their necks gamboling in the snow or kittens peeking out from boxes under the Christmas tree? But adding a pet to the family isn't as simple as these commercials make it seem.
"Many people don't understand or take into consideration the huge financial risk and expense they may be presenting along with that cuddly puppy," says Madelyn Flannagan, Independent Insurance Agents & Brokers of America, Inc. (better known as Big "I") vice president of agent development, education and research. "Pet owners are responsible for their pet's actions and could be held liable if, for example, their animal bites or injures someone or causes property damage."
"Independent insurance agents not only advise clients about insurance, but also discuss risk and liability issues," says Robert Rusbuldt, Big "I" president and CEO. "We recommend meeting with a Trusted Choice® independent insurance agent who is an expert in assessing your risks and insuring that you and your family know what you're getting into before adding a pet to your household."
Before you choose a pet, consider these seven risks and liabilities that are part of owning a pet, as explained by Trusted Choice® independent insurance agents and brokers.
Related: 10 holiday hazards for pets
(Photo: J. Heft)
1. Do you need pet insurance?
While the concept of health insurance for pets is a popular topic, it is important for pet owners to know that this coverage is not suitable for everyone. According to Petplan Pet Insurance, based in Philadelphia, pet insurance is regulated as Inland Marine P&C insurance and all rates and policies sold today are filed and approved by state regulators.
However, many pet insurance policies exclude routine examinations, vaccinations and pre-existing conditions.
This coverage may have merit for certain pet owners, but consumers should research any pet insurance product carefully before buying it.
(Photo: E. Jefferson)
2. Is the pet likely to become a biter or a chewer?
Dogs are often specially mentioned in Homeowners' and Renters' policies as well as homeowner's association rules. As a dog owner, you can be held financially responsible if your animal attacks, bites or injures a person or property. That bite can also have huge implications for your insurance.
Most people are bitten by dogs they know, not strays. The Centers for Disease Control and Prevention says about half of the 4.5 million dog bites reported annually in the United States occur at the property owner's home, with the highest rate among children ages five to nine and many requiring medical attention.
Talk with your independent agent before you bring a new pet into your home to make sure you have adequate liability coverage and inquire about safety measures to take to protect your family and those who visit your property.
Related: 12 factors impacting dog bite claims
(Photo: R. Donlon)
3. What kind of dog is that?
Many insurers are now routinely asking in their policy applications whether homeowners or renters have dogs and whether those dogs have a history of aggressive behavior. Some companies may even deny coverage to those who own certain breeds of dogs, including wolf hybrids, pit bulls and Rottweilers.
Insurance companies can deny claims or limit coverage for dog owners who don't take precautions to prevent their animals from attacking. Many industry experts recommend at least $500,000 in liability protection for owners of large dogs or for those who own certain breeds.
(Photo: P. Harman)
4. How much was that doggy in the window?
Pet owners must understand that whether they paid thousands of dollars to a breeder for their dog (or any pet) or less than $50 for a rescue, most homeowners' insurance policies exclude any damage or injury to animals.
If your pet is injured or killed in a fire or other disaster, it's not likely that you'll be able to claim it as a loss with your insurance company.
(Photo: C. Pontoriero)
5. Do you have a pet restraint in your car?
Some auto insurers are now including a pet clause that allows for a certain amount of coverage for expenses relating to your dog's injuries in the event that you are involved in an accident when your dog is in the vehicle. Ask your independent agent about the availability of this special coverage and consider using a proper animal transport crate or restraint.
Remember that riding with your pet unrestrained in the car can be a major distraction. According to a survey sponsored by AAA and Kurgo Pet Products, 29 percent of respondents admit to being distracted by their dog while driving, however 65 percent have participated in at least one distracting behavior while driving with their dog:
- More than half (52 percent) have pet their dog while driving.
- 17 percent allowed their dog to sit in their lap.
- 13 percent of drivers admitted to include giving food or treats to their dog.
- 4 percent acknowledged playing with their dog.
(Photo: iStock)
6. Are you thinking about a farm animal?
Is your child begging for a pony? Is your child interested in a baby goat or piglet? These types of gifts are not uncommon in some areas, especially with the popularity of state fairs, livestock competitions and youth agriculture programs. Families who are considering the purchase of horses, goats, calves, pigs, chickens and other farm animals may want to consider livestock or animal mortality products that cover certain losses, including drowning and electrocution.
These are considered specialty products, though, and are not available through all agents.
If you are considering one of these pets, be sure your local zoning laws allow you to have them.
(Photo: iStock)
7. Are you thinking about exotic pets?
Exotic animals such as ferrets, snakes, lizards, spiders, turtles, sugar gliders and others can be popular pets but they can also present liability concerns. Check your state and local laws about the legality of these animals in a home before you purchase them. Also check for other risks such as disease and propensity to bite.
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