Any pets you have are an important part of your life, and as such influence many different aspects of it including your renters insurance. To understand how your pets influence your renters insurance, it’s important to understand what a renters insurance policy covers and what your landlord is responsible for:
- There are four different elements which standard renters insurance policy covers: personal possessions, personal liability, loss of use and medical payments.
- Personal possessions coverage insures your things against damage or total loss from a list of unfortunate circumstances.
- Personal liability is there to cover any damage or injuries to others’ persons or possessions you are personally liable for.
- Loss of use helps you in the event your rental property becomes unlivable.
- Medical coverage is there in the event someone is injured on the rental property.
- Put simply, your landlord is responsible for damages to the rental property, and you are responsible for you, your family, your pets and your possessions. If your cat were to pee on the carpet, your landlord is responsible for replacing the carpet if needed.
- NOTE: Your landlord may include in your lease that you will be financially responsible for damages caused by pets. If you are held financially responsible, your renters insurance will not typically cover this because in their eyes, the landlord is responsible for the property.
Personal liability is the element within a renters insurance policy in which pets, most specifically dogs, will impact your premium. Should your dog bite anyone else whether on the rental property or not, you are personally liable. Other animals of course can bite and scratch people, and your personal liability coverage will kick in should that happen. Insurance companies aren’t as likely to raise your premium or even deny you insurance if you own a house cat however unless you are submitting many claims as a result of the ownership. As a result of much media coverage, there is a growing trend in discrimination laws against specific breeds of dogs. Some cities, counties and even some states have made it illegal to own specific breeds including but not limited to the Pit Bull, Rottweiler, Mastiff, German Sheppard and Doberman Pincher. In Fairfield, IA it is illegal to own a dog over 100 lbs regardless of the breed. If you illegally own a banned animal in your area, your renters insurance isn’t likely to cover you. Insurance companies also have their own list of dog breeds they consider to be dangerous or high risk. Even if there are no bans in your area, some companies won’t insure you at all if you have one of the breeds on their list. Most insurance companies however will just raise your premium rates to cover the risk. Some landlords may require you to have renters insurance if you are the owner of a large fish tank, as they want to ensure you are covered in the event the tank should leak or break. What these landlords don’t understand however is should the tank damage the rental property, the landlord is still responsible for repairing the property. The landlord’s insurance policy should cover such damage. Renters insurance will cover any of your personal items that were damaged, including the tank and its contents. Exotic pets of course can be a whole other matter, but it’s not often you find a renter owning a tiger or other such dangerous animals. Needless to say, if you do, it may greatly impact not only your premium, but also your ability to get renters insurance.
Brenda Stokes – RentersInsurance.org Expert Brenda Stokes has been a writing and editing professional for six years. She's become a jill of all trades, making it the focus of her business to be well-versed in an expanse of topics ranging from parenting to business plans. Insurance is one of her specialties and she strives to provide valuable information for consumers seeking to protect themselves and their possessions as they move from apartment to house and beyond.
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