Do not let the dog take a bite of your finances

It is expensive dog bites. Legal fees and lost wages single lawsuit could cost hundreds of thousands of US dollars, according to the Insurance Information Institute. Even homeowners and renters insurance policies typically provide dog bite liability insurance, it may not be enough to pay all legal and medical costs, if your pet harm.

According to III, the insurance company paid about in dog bite claims $ 47.9 billion in 2011 The average cost required $ twenty-nine thousand three hundred ninety-six. While different state liability law, who is considered to be an injury liability pet owners typically require reimbursement of victims of medical expenses, lost income, pain and suffering, and property dam age.

Standard homeowners policy usually provided $ 100,000 $ 300,000 in liability insurance. If the dog bites the settlement exceeds this limit, the dog owner must cover the difference. Greater a person’s assets, the higher the risk of costly litigation, according to the III. This is why some people should consider getting an umbrella liability insurance. For about $ 200 to $ 400 per year, you can get $ 1 million liability insurance (see why you want an umbrella liability insurance for more information).

In addition, the time if your pet does not damage people, the insurance company may charge a higher premium or exclude coverage animal, according to III. Some companies require owners to put their dogs behavior modification classes to obtain coverage pets. There are some insurance companies require signed liability waiver dog bites and pet owner.