Budget Concerns: How Much Insurance is Enough?

Budget Concerns: How Much Insurance is Enough?

Got A Dog Outside? Better Have A Dog Bite Liability On Your Homeowner's Insurance Before It Bankrupts You

Dustin Duncan

According to Dog Bite Law, dog bite losses are more than $1 billion each year, and there are over 350,000 people seen in emergency rooms each year for a dog bite. If you have the most loving dog in the world, you can never know 100% sure that it will never bite anyone. For this reason, you should check your homeowner's insurance policy to make sure if something like this happens you will be covered, as it can become very expensive for you. Below is some information about dog bite coverage you should find helpful.

Your Homeowner's Insurance

If you look over your homeowner's insurance policy, you will likely see that it does cover dog bites. The amount it will cover depends on the insurance company and your policy, but this amount may not cover the costs of an expensive lawsuit and medical bills. It can also depend on the breed of dog you have, such as a Rottweiler, Doberman Pinscher, and a Great Dane. If you have this breed of dog, your insurance company may require you to enroll it into behavioral classes, might charge you a higher premium, or may not cover it at all.

Contact your insurance company to see what exactly is covered under your plan, as well as the dollar amount they will cover if your dog does bite someone.

The Victim Can Win

The victim of the dog bite will usually win their case if they can provide the following:

  • Your dog has bitten someone else in the past, and you were aware of it.
  • Your dog acted viciously towards other people, and you were aware of it.
  • Depending on the state you live in, the dog was outside the boundaries of your yard, but was not on a leash.
  • You were misleading or negligent, which caused the victim to be bitten, such as if you promised to keep the dog away if they were visiting you in your home.

Umbrella Coverage

As a dog owner, you should purchase personal liability coverage, which is also known as an umbrella policy, on top of your standard homeowner's insurance policy. This coverage will cover costs that your standard insurance policy will not. Your insurance company can give you much more information about this umbrella coverage.

If your dog bites someone, you should contact your insurance company. You should also hire a lawyer, who can help you with your defense. To learn more about home insurance, contact a company like Accredited Insurance Group Inc


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2017© Budget Concerns: How Much Insurance is Enough?
About Me
Budget Concerns: How Much Insurance is Enough?

Insurance is something that I carry in the hopes that it never has to be used. Along with life coverage, I also have low cost auto insurance and a health plan through my employer. I'm toying with the idea of adding some additional coverage, just in case something happens and I'm no longer around to take care of my family. The question that is on my mind is how much insurance is enough? Do I really need more, or would it be better to cultivate other assets that my loved ones can draw on if needed? If you are in the same boat, let's journey together for a while. Read on and I'll explain what I'm trying and why. Together, we can figure out when it is time to add more coverage and when enough really is enough.

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