How Much Does Dog Liability Insurance Cost?
Dog liability insurance protects the owner from the financial responsibilities if the dog were to attack another person and/or pet. There are many dog breeds that are violent by nature, but all dogs have the potential to be aggressive at some point. Some people who purchase dogs that are known to be dangerous do so because they believe that they can control it; however, no matter how well you train the dog, it is going to retain its natural instincts. Dog liability insurance can be hard to find since many companies will not insure certain breeds of dog. If you do find a company that is willing to insure your dog, it can be quite expensive. However, the cost of insuring the dog will be much less than a potential law suit against you if your dog were to attack.
How much does it cost?
- According to the Insurance Information Institute, liability insurance for homeowners over the past few years has accounted for dog bites. This means that liability insurance specifically for your dog is unnecessary. A total of $413 million was spent to pay for dog bite situations, and a victim was usually paid out $26,166 on average. This has seen a rapid increase by as much as 37 percent since 2003.
- The Federation of Insured Dog Owners indicated that dog liability insurance policies range from around $75 per year per dog at the lowest. Overall, you should plan on spending around $75 to $250 per year for around $300,000 in liability coverage.
- If your dog has bitten someone in the past, the costs can be up to 50% higher than a dog that has never bitten anyone before.
- The website DogBiteQuote.com provides this online calculator that enables dog owners to get insurance quotes for their animals.
What is going to be included?
- Coverage for the liability with dog bites could mean as much as saving a million to ten million dollars. Liability policies that pay around $150 to $300 can get this kind of coverage.
- An umbrella policy is perhaps the most popular as it comes with the full coverage for the injuries and damages that are usually not covered by the dog owner’s insurance. Hence, if you happen to be passing by a neighbors’ house and you get bitten, then you are more likely to get some coverage.
- Special liability insurance can be a part of the initial costs of the policy, and the contract will cover cases where the dog has bitten someone, where the animal has been declared as dangerous; the limits will be based on the local laws.
What are the extra costs?
- Added costs for the policy would depend on the type of coverage that will be enacted. Canine liability is usually an additional cost that is dependent on the prohibitive costs that would be related to it.
- The cost of the premiums would also increase if the dog has been bred without proper training. Some companies would require dog obedience classes before coverage will be granted. See “How Much Do Dog Obedience Classes Cost?”
Factors that influence the price:
- The type of dog is a basis for the costs of the premiums. The CDC has listed around seven different types of breeds that are dangerous and will therefore have higher premiums. Some of these dogs include the German Shepherd, Malamute, Chow Chow, and the Doberman Pinscher.
- Premiums prices will also be based on the type of exposure that a person has had. This means that coverage is not only extended to the dog bites but rather to the events that resulted to bodily harm because of dog attacks. This is also referred to as the Third Party Liability Coverage.
- Local taxes and fees will also play a part in deciding the costs of the insurance policy.
Tips to know:
- Consider looking into the scope of the coverage of the policy and whether it will be enough to give you security. Some companies may not cover particular breeds of dogs.
- Punitive damages are essentials to a pending case, and you need to know the local legislation that governs these amounts.
- It is best to have the full umbrella liability coverage as this will provide coverage in almost all situations.
- Get quotations from different providers as this can really help you get the best rates in the market. To find a good insurance policy, consider using websites such as InsureMe.com.
- Look at the premiums that will give you the best perks, and this means extensive protection for possible dog bites and other external factors or accidents.
How can I save money?
- The truth of the matter is that buying insurance is already a great way to save money on possible dog attacks. The costs of hospitals and medical care could be crippling on your pocket. If you feel that your pet could be a risk to others, then it would be best to have the dog liability insurance. A sure way to really save on the expenses is to consider the full comprehensive packages as this can help reduce any potential costs. With that being said, do not be cheap with your policies, otherwise your coverage will not be worth the cost.
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