Charles Goodman Group: Experienced Insurance Brokers in Bedford
All insurance policies are based on a risk assessment of the individual or property being insured. With homeowners insurance, the size of the home, the value of the home and the deductible that the policyholder pays will determine the premium price. In addition to these large factors, there are a lot of minor factors that can have an impact on insurance premium prices. Having a Bedford insurance agent do a risk assessment on a property will identify what these minor factors are for that property.
Some of these minor factors can include things like low hanging tree branches that are near a roof, a balcony on the home or even an elevated deck. Other considerations such as the age of the home’s appliances and the age of the home itself will be evaluated by the insurance company.
Pet ownership can have a substantial impact on the cost of a homeowners insurance policy as well. This is based on the statistical likelihood that a pet may attack a visitor or guest to the insured property. Certain breeds of canines that are considered “aggressive” can increase policy premiums by hundreds of dollars every single year. It does not matter how well the canine is trained; if its breed has a history of attacking other people, the homeowners insurance premium will increase.
A trusted Bedford insurance agent from the Charles Goodman Group can assist you with any questions regarding health insurance or automobile insurance.
Certain breeds such as pit bulls, Rottweilers, wolf and coyote hybrids, and chow chows are seen by insurance companies as risky. In addition to these dogs, the are other breeds that are considered to be aggressive that could have an impact on the home insurance premium.
Most homeowners insurance policies will not provide coverage for dog bites from the aforementioned breeds. The majority of insurance companies require homeowners to sign a waiver that removes the insurance company’s liability in the case of a dog attack. This way, if a dog attacks a guest, the owner of the dog will be responsible for the medical costs and any legal costs. It is likely that the homeowner will need to purchase an umbrella policy or rider to their policy that provides protection against dangerous animals.
What should a homeowner do if they purchase an “aggressive” breed of dog after obtaining an insurance policy? They should contact their insurance provider immediately. In many circumstances, the insurance company will require them to sign a liability waiver on the spot. If a homeowner fails to inform their insurance company that they have purchased an aggressive canine breed, it is possible that their insurance policy will be void immediately.
Owning a pet brings joy to many people. However, since insurance is all about assessing and minimizing risk, homeowners who choose to purchase aggressive breeds of dogs do so realizing that their insurance company may not cover them in the event their animal attacks someone.