• Abstract and Figures
• Public Full-text

2/12/2015 Complete Guide to Insurance for New Dog Owners | Fox Business Fox News Fox Business Fox News Latino Fox Business Go Fox News Radio Fox Nation Fox News Insider Login Search Stocks & Keywords Search Strange Inheritance Earnings Season National Gas Prices Trending Pension Crisis Market CheckWhat's Hot Home Video Markets Industries Economy & Policy Investing Technology Personal Finance Business Leaders On Air Small Business Home & Mortgage Career College Planning Lifestyle & Budget Health Care Retirement Taxes Tools & Calculators Job Search Slideshows Complete Guide to Insurance for New Dog FOLLOW FOX BUSINESS Owners Get Our Free Newsletter Enter Email Address Sign Up By Karen Aho / Published November 22, 2013 / Insurance.com Like 266k Follow @foxbusiness RECOMMENDED VIDEOS President Obama slams Staples on REUTERS health­care policy Print If you can't live without your dog, it's time to consider whether you can't live without extra insurance, too. The same goes for other Email pets, although it's dogs that comprise the focus of home and auto People plus packages equals Share policies. the future of delivery? Share 115 We know it's tempting to dismiss the subject of insurance. My dog Tweet 21 isn't going to hurt anyone, we think. I'm not going to have an 90% of Americans Share 7 stressed over accident with pets in the car. I'll pay with credit in the unlikely event money? of a veterinary emergency. MORE FROM INSURANCE.COM All understandable ­­­ if not wishful ­­ thinking. Until something happens. MORE FROM FOX BUSINESS Spouses and friends are the most annoying drivers When Sharing Taxes Might Not be In New York state, a mail carrier sued the owner of a golden Will insurance pay for DIY a Good Idea dent repair? retriever that ran from the yard to greet her. The mail carrier, Feds add teeth to mental apparently stricken with fear, took off in flight and injured herself health insurance law trying to jump through a car window. Ultimately, the carrier lost that Expedia to Acquire RELATED STORIES suit, a judge citing the dog's lack of aggression, but not before Orbitz in $1.6 Billion Deal http://www.foxbusiness.com/personal-finance/2013/11/20/complete-guide-to-insurance-for-new-dog-owners/ 1/11 2/12/2015 Complete Guide to Insurance for New Dog Owners | Fox Business Tips for Picking the Right costing the dog's owner the stress and cost of a trial. Life Insurance Plan Do You Need Gap Insurance for Your New In another case, in California, an owner was held responsible after Car? its dog wandered into the street, causing a pickup truck to crash. Wildest Pet Insurance Claims: Dog vs. Onion Two men were thrown from the back end and suffered serious, How Love Can Rings, Cat in Wash Cycle permanent injuries. A judge ordered the dog owner's homeowner's Teach us to Lead How to Hide Medical Treatment from Your insurance to pay $2.6 million in damages. Health Plan Companies Get Creative "A good proposition to keep in mind is that owners certainly could with Benefits to Lure Top Talent be found financially and legally liable for whatever kind of damage Will You Marry ... My Debt? 12 ways your driving their dog causes. You don't know, but there's always that record can screw up your life possibility," says lawyer Mary Randolph, author of "Every Dog's Legal Guide." FROM OUR SPONSORS The best course is prevention, Randolph says: "Don't worry so Metromile to offer much about the outcome of a lawsuit; just try to avoid the problem per­mile insurance in the first place." option to Uber driver partners Engadget But there's no eliminating risk. A pet will sneak out. A frightened animal will bite. Even a cat in a car carrier can distract a driver. Recommended by Dogs are hurt in cars and flee accident scenes. And, although we MILITARY PERSONAL FINANCE More › don't like to think about it, our pets get sick and injured. For all these events, we as owners are responsible. Even as the economic downturn slowed the growth of pet health insurance plans, the industry still maintained a 7 to 10% annual How to Use the Web to Improve growth, according to the North American Pet Health Insurance Your Monthly Budget Association. Such a clip well outpaces other types of insurance. Sorting Through the Auto, Life, Health Insurance Maze Insurers are folding pet coverage into auto policies. Meanwhile, When You Can't Sell Your Home homeowner's insurance companies are writing policies to try and reduce pet­related costs. It can be baffling for the consumer. But here's a primer on the big Investing › three categories of insurance that pertain to pets ­­ home, auto, pet ­­ to get you started, whether you've just adopted a new kitten or are padding the pillows for an old dog. Homeowner's insurance: covered except . Tesla posts wider than expected 4Q loss In addition to covering your home and belongings from storms and Sprint Corp Helps Pick Up The Scraps of theft, homeowners insurance also covers off­site damage caused Radioshack by family members that live with you, including your pet. Renters Why Zulily Inc. Stock Tumbled Today insurance provides the same type of coverage. BANK RATES That means if your cat scratches a child down the street, Mortgage Home Equity Autos CD Rates homeowners insurance can pay the child's medical bills. If your dog Loan Type Graph Rate +/­ Last Week chews a friend's living­room rug, your insurance can replace it. 30 Y Fixed 3.87% 3.85% Good relations are maintained. 15 Y Fixed 3.02% 2.96% http://www.foxbusiness.com/personal-finance/2013/11/20/complete-guide-to-insurance-for-new-dog-owners/ 2/11 2/12/2015 Complete Guide to Insurance for New Dog Owners | Fox Business But ­­ and "but" is the crucial word in insurance ­­ there are 30 Y Fixed 4.41% 4.35% Jumbo exceptions, things your insurance won't cover, or will provide less 5/1 ARM 3.57% 3.53% money for. These are tucked inside the policy under "exclusions" 5/1 Jumbo and "limits," respectively. 3.64% 3.60% ARM "If you own a dog, you must read the personal liability section and Find Personalized Rates Enter Zip Code Search you must look at the exclusions; those are two different sections," says Kenneth M. Phillips, a California lawyer who specializes in Sponsored Searches dog­bite cases. "It is becoming more and more of an occurrence for insurance companies to exclude coverage for injuries caused by an 1. 10 Best Mutual Funds animal." 2. Dividend Income Funds 3. Penny Stocks To Own Check under "exclusions" for breeds the insurer either won't cover, or breeds for which the insurer requires individual approval due to a 4. Top Bank CD Rates propensity for aggression. These may include pit bulls, Rottweilers, 5. Stocks to Buy Now German Shepherds, Akitas, Chows, wolf hybrids, bull terriers and 6. Top 10 Credit Cards Presa Canarios. Insurance companies are trying to cut their losses. In the last decade, dog­bite claims have accounted for more than a third of all homeowner's insurance liability losses, totaling $489 million in this country in 2012, according to the Insurance Information Institute. The average claim paid out was $29,750. Without insurance, owners are on the hook. The days when most judges gave owners a pass for a first­time offense are fading fast, says Randolph. In about half of the states, owners are expected to presume a dog might cause harm, even without any prior indications. Owners can even be sued if a person is injured as a result of being frightened by a dog, as with the mail carrier. "The trend is definitely to make owners responsible for their dogs," Randolph says. "Even if your state's law hasn't changed, you may be found liable where in the past you might not have." Homeowner insurance limits pertaining to pets Homeowner insurance policies typically provide between $100,000 and $300,000 in liability coverage on a standard policy. But, again, don't assume those apply to the pet ­­ read carefully for any mention of limits. Phillips had a client who'd been bitten by a friend's dog. "No problem," the dog's owner had said. "I have $300,000 in liability coverage." But the owner's insurer pointed her to a little clause she'd overlooked: when it came to incidents involving the dog, coverage was only for $50,000. http://www.foxbusiness.com/personal-finance/2013/11/20/complete-guide-to-insurance-for-new-dog-owners/ 3/11 2/12/2015 Complete Guide to Insurance for New Dog Owners | Fox Business The medical and other bills exceeded that amount, as can often be the case. Damages can include legal costs, emotional and physical pain, and loss of future wages and enjoyment. "We had to go after the woman individually to pay," Phillips says. "She was shocked. She hired a lawyer, said, 'I bought a $300,000 policy.' The lawyer said, 'Sorry, you should have read it.'" Some companies won't exclude breeds outright, or are prohibited by state law from doing so. But they may require the owner to submit behavioral evaluations, and will likely cancel coverage following an incident. "You're always going to need to check with your carrier," says Paul Vames, a lawyer in Hillsboro, Ore. "Certain breeds require a vicious­breed rider, or endorsement. You need to let the insurance company know you have that kind of breed." Do you need an umbrella insurance policy? Also known as a personal excess liability policy, an umbrella policy can extend coverage to other areas, such as libel or rental units, and, more importantly here, raise the total dollar amount for all coverage.

Load more

  11

Copy Link