A dog at home can provide joy, comfort and security. They can also provide a potential financial liability if someone is bit by your pet. If you're not careful, "man's best friend" could cost you thousands in lawsuits and high home insurance premiums.
According to the Insurance Information Institute, dog bites cost the property and casualty insurance industry about $317.2 million in 2005. With a figure like that, you better believe that insurance companies look carefully at what kind of dog lives on your property.
There are certain breeds of dogs that insurers are more concerned about. In fact, many home and renter insurance companies may charge more if you have one of these.
The Center for Disease Control and Prevention has listed the following breeds as causing the most fatalities during the period from 1979 to 1980:
1. Pit Bull type2. Rottweiler3. German Shepherd4. Husky4. Malamute6. Doberman Pinscher7. Chow Chow8. Great Dane9. Saint Bernard
If you're going to get a new dog, you might want to check with your insurance agent or company to see if it's a breed that could raiser your premium. What's more, you should take steps to reduce the chance that your beloved Fido bites someone. The Insurance Information Institute suggests:
1. Make sure your dog is spayed or neutered.
2. Work to train and socialize your dog with people and other animals.
3. Avoid playing aggressive games like tug-of-war that could encourage aggression.
4. Always be aware of any situation that you're not sure how your dog will respond, and maintain control of your pet throughout.
You can argue that a good guard dog provides extra security for your home, thus it should reduce your premiums. But the fact remains that insurance companies weigh liability risk very heavily, and for now, your dog will be considered a risk-increaser rather than a risk-decreaser.
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