A:

A renters insurance policy typically provides liability coverage, up to policy limits, for dog bites unless the coverage is specifically excluded from the policy.

Coverage May Vary

Coverage for dog bites varies from state to state and from one insurance company to another. Speak with a licensed insurance agent and let him know about any dogs that reside at the insured residence. Aggressive breeds of dogs are often excluded and should be revealed to the insurance agent. By not revealing the possession of aggressive breeds, you open yourself up to the possibility of policy cancellation. There are companies that insure breeds that have been labeled as aggressive. To properly protect your assets from liability, be honest when seeking any type of insurance coverage.

Coverage Limits

Typically, the liability coverage limits on a renters insurance policy range from $100,000 to $300,000. A higher liability limit is a safer option if you have dogs. The price difference between the lower liability option and the higher liability option is usually minimal.

Negligence

Some state and local ordinances require your dogs to be on leashes at all times when they are outside. Allowing your dog to roam without a leash could open you up to a higher amount of liability, since negligence can be proven. Any claims or judgements that exceed the policy limits could open you up to a personal lawsuit. If you are a higher net worth individual, look into an umbrella insurance policy for additional coverage. Umbrella policies may also have restrictions on dogs.

RELATED FAQS
  1. Can I get renters insurance without a lease?

    Find out whether you need to have a lease before you can get renters insurance. Learn about policy coverage and what information ... Read Answer >>
  2. What are some examples of industries that practice price discrimination?

    Understand the various types of insurance coverage offered in the insurance marketplace, and learn why each policy should ... Read Answer >>
  3. Can roommates share renters insurance?

    Learn how roommates could share a renters insurance policy in some states and how that could lead to issues during the claims ... Read Answer >>
  4. Why might landlords require renters insurance?

    Learn why landlords may require tenants have renters insurance, and find out what type of coverage landlords can request ... Read Answer >>
  5. Which insurance policies do I really need?

    Your needs for insurance depend on your situation and can't be generalized for everyone, but there are a lot of options available. ... Read Answer >>
Related Articles
  1. Insurance

    An Advisor's Guide to Prof. Liability Insurance

    A guide to what financial advisors need to know about professional liability insurance.
  2. Insurance

    6 Good Reasons To Get Renter's Insurance

    If you rent, you still need insurance for personal property and if anyone is injured at your place. The good news: It also covers losses when you travel.
  3. Insurance

    Renter's Insurance: A Comprehensive Guide

    Everything you need to know about renter's insurance.
  4. Insurance

    Do You Need Umbrella Insurance For Household Help?

    Homeowners insurance may not be enough – say, if your nanny sues for damages after an accident. That's where umbrella coverage comes in.
  5. Investing

    Barking Up The Dogs Of The Dow Tree

    One well-known and successful strategy for cashing in on dividends is the Dogs of the Dow. Here's what you need to know about them.
  6. Insurance

    How Much Car Insurance Do I Need?

    Find out to determine how much car insurance you actually need with this overview of the different types of coverage available in your policy.
  7. Insurance

    Homeowner's Insurance Guide: A Beginner's Overview

    Everything new homeowners need to know about insurance to protect their residence.
  8. Insurance

    Insurance, Excess Insurance and Reinsurance: What's the Difference? (ALL)

    Understanding the differences might help you avoid being overinsured or underinsured.
  9. Financial Advisor

    7 Issues to Consider When Determining Life Insurance Coverage

    Seven issues to consider when buying life insurance to ensure the coverage is tailored to meet your personal financial situation.
RELATED TERMS
  1. Umbrella Personal Liability Policy

    A type of insurance policy that provides excess coverage above ...
  2. Business Liability Insurance

    Insurance that protects a company and/or business owner in the ...
  3. Coordination Of Coverage

    A review or modification of an individual's or business’ insurance ...
  4. Backdated Liability Insurance

    Liability insurance that provides coverage for a claim that occurred ...
  5. Coincidental Excess Coverage

    Insurance coverage that provides excess coverage for a specified ...
  6. Insurance Coverage Area

    The geographic region in which an insurance policy’s benefits ...
Hot Definitions
  1. Stop-Limit Order

    An order placed with a broker that combines the features of stop order with those of a limit order. A stop-limit order will ...
  2. Down Round

    A round of financing where investors purchase stock from a company at a lower valuation than the valuation placed upon the ...
  3. Keynesian Economics

    An economic theory of total spending in the economy and its effects on output and inflation. Keynesian economics was developed ...
  4. Portfolio Investment

    A holding of an asset in a portfolio. A portfolio investment is made with the expectation of earning a return on it. This ...
  5. Treynor Ratio

    A ratio developed by Jack Treynor that measures returns earned in excess of that which could have been earned on a riskless ...
  6. Buyback

    The repurchase of outstanding shares (repurchase) by a company in order to reduce the number of shares on the market. Companies ...
Trading Center