Can Some Pets Lead to Cancelation of Home Insurance Policies?

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  • These days, consumers are often aware of the various issues that might end up impacting their home insurance costs, such as whether their property is at risk for being hit with a significant natural disaster. However, they might not be cognizant of other factors, which can sometimes include owning certain types of dogs. As a result, it might be important for insurance agents to let people know about the risks they face for higher costs or even canceled coverage if they have specific types of animals on their property, and what they can do to reduce these concerns without getting rid of their beloved family pet.

    Over the years, many homeowners who have a dog have likely received notification from their home insurance companies that their costs are going up, or even that their policies would be canceled, because of the specific breed of dog, according to a report from Biloxi, Mississippi, television station WLOX. Often, these are breeds that have a reputation for dangerous behavior, even if individual dogs themselves are considered harmless by their owners.

    “I got this letter in the mail Friday,” Chad Broussard, a homeowner who received such a notice from his insurer because he owns a Rottweiler, told the station. “They say they recently completed a home care review. And the following repairs they want done, [and we have an] ineligible breed of dog.”

    Why is this an issue?
    Even beyond the fact that families are often very attached to their dogs, many enter into home insurance policies without knowing about the pet restrictions, the report said. Consequently, they may buy a dog after signing such a deal that essentially nullifies their coverage, and that can create significant problems for people who don’t want to choose between a pet and their insurance.

    While it may not be possible for insurance agents to keep all their clients happy when it comes to every single aspect of their coverage, the more that can be done to explain specific situations so that clients can understand them, their relationships will probably improve. If agents can help people realize these issues, the better off retention rates and other factors are likely to be. Often, people prefer high-quality customer service to even the ability to save a bit of money on their premiums every month, highlighting just how valuable this kind of situation can be.