As an Edmonton pet lover, it is possible to indulge your fancy and legally own a wide range of animals. From domesticated pets, such as dogs, cats, rabbits, and ferrets, to exotic ones, such as certain species of hamsters, hedgehogs, wallabies, or sugar gliders, there is much to choose from. Do you already own a pet, or are you thinking of bringing one home in the near future? While your adorable four-legged buddies may bring you a world of joy and companionship, you should know that they can impact your home insurance premiums in Edmonton.
No matter how well-trained or domesticated your pet is, your insurance company has to take into account the fact that animals are unpredictable, and can pose a threat to people, property and other pets. Moreover, certain animals and breeds may be considered high-risk, based on their size, genetic disposition, as well as historical trends of pet attacks. Depending on the pet you own, your insurance company may either increase your home insurance rates, exclude your pet from your policy, or altogether deny you a new policy in Edmonton.
At HDF Insurance, we regularly come across homeowners, as well as renters, who are unaware of the nuances of home insurance policies, when it comes to pet ownership. Our experienced and knowledgeable brokers offer a quick rundown on what Edmonton pet owners should know.
How Does Your Home Insurance Work When You Own a Pet?
The good news is that most homeowners’ insurance policies and renters’ insurance policies include a personal liability coverage. This will keep you off the hook from footing medical bills, or civil suit expenses if your pet is responsible for any harm or damage. However, many insurers have strict guidelines on the breeds that are acceptable within the norms of your personal liability cover. Hence, in addition to being aware of your legal responsibilities and liabilities related to pet ownership, here are some aspects to consider:
- What Pet You Own Matters
- Higher Premiums: If you own dog breeds, such as Pit Bulls, German Shepherds, Doberman Pinschers, Rottweilers, Siberian Huskies, be prepared to pay higher premium amounts on your home insurance policy.
- Exclusion from Policy: In the case of large dogs, such as mastiffs, many insurers believe that their sheer size and strength, or acts of boredom could cause major damage within the home. Accordingly, most insurance companies will not allow you to add these breeds to your policy, and will not cover any property damages caused by your pet.
- Additional Riders: Although it is illegal to possess poisonous snakes, frogs, spiders and such animals, you may be able to get permits for certain exotic species, such as a Fennec Fox or a Potbellied Pig. In such cases, your insurer will ask you to take out an additional rider on your policy to cover the risks of owning an exotic pet.
- It is Possible to Offset Added Insurance Costs
Your insurance company may consider a gradual reduction in premiums if you remain claims-free. To offset the added costs and ensure the safety of humans, property, and other pets around you:
- Train your pet early and consider a professional trainer, especially for large sized pets or breeds that have shown a history of aggression.
- Socialize your pets early by letting them get used to other pets and humans.
- Keep up-to-date on all the necessary vaccinations.
- Do not leave your pets alone with children, even if they are extremely well trained and domesticated.
- Ensure that your visitors respect your pet’s space, especially when they are eating, drinking or resting.
Let Edmonton’s Leading Insurance Brokers Take Care of Your Home Insurance
Owning a pet does not necessarily mean compromising your home insurance rates or coverage for your Edmonton home. All the same, do not take shortcuts, or keep your insurer in the dark when you bring a pet home. Non-disclosure could altogether void your home insurance policy.
When it comes to protecting your Edmonton home, look no further than Alberta’s most progressive online insurance brokerage, HDF Insurance. As an independent, full-service brokerage, we have access to an extensive range of products from hundreds of insurance carriers. Let our experienced brokers shop on your behalf for comprehensive home insurance policies that offer adequate protection, even when you own a pet.
To know more about including pets in your home insurance policy, call us at 1-800-567-2048 or request a free quote online.