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Renters Insurance and Pets: What’s Covered and What’s Not
Renters Insurance and Pets: What’s Covered and What’s Not
January 03, 2024 / www.rentersinsurancecompared.com staff
Renters Insurance and Pets: What’s Covered and What’s Not
January 03, 2024 / www.rentersinsurancecompared.com staff

Introduction

If you have a pet, it’s important to think about what could happen if your pet injures someone else or damages their property. In most cases, you’re liable for your their actions—which means you could be on the hook to pay for medical bills or repairs. If you don’t have insurance, an accident involving your pet could turn into a financial disaster.

Renters insurance can protect you in this situation. It offers liability coverage for you and your pet, potentially saving you from paying expensive damages. In this guide, we’ll take a closer look at how renters insurance works and what it covers.

What Is Renters Insurance?

Renters insurance is a type of insurance policy designed for individuals who rent their home. It provides three main types of coverage:

  • Personal property: This coverage pays for damage or loss of your belongings. For example, if your clothes are stolen, personal property coverage will pay you for their value.
  • Liability: This coverage protects you in case you’re responsible for injuring someone or causing damage to their property. For example, if someone trips and falls in your home, liability coverage could help pay their medical bills.
  • Additional living expenses: This coverage pays for the cost of staying in a hotel or alternative dwelling if your home is uninhabitable for a time, such as after a pipe burst.

Does Renters Insurance Cover Pets?

Most renters insurance policies offer coverage for your pet as part of your liability coverage. You’ll typically be covered if your pet injures someone else or if your pet causes damage to someone else’s property.

For your pet to be covered, they must be listed on your renters insurance policy. If you get a pet after purchasing a policy, make sure to contact your insurance provider and update your coverage.

You’ll be covered up to the liability coverage limit specified in your policy. The default limit for most renters insurance policies is $100,000, but you can request up to $1 million in coverage from many providers.

What’s Not Covered by Renters Insurance?

The liability coverage that your renters insurance provides for your pet only extends to other people and other peoples’ property. It doesn’t cover injuries to anyone living in your home (including yourself) or damage to your home.

Damage to your personal belongings caused by your pet is also excluded from your policy’s personal property coverage. However, this exclusion only applies to damage caused directly by your pet. If your pet knocks over a candle and starts a fire, your renters insurance will cover damage related to the fire.

Excluded breeds

It’s important to read the fine print of your renters insurance coverage. Many policies have breed exclusions, meaning that injury or damage caused by certain dog breeds won’t be covered. Breeds that are frequently excluded from renters insurance coverage include:

  • Pit bulls
  • Siberian huskies
  • German shepherds
  • Rottweilers
  • Akitas
  • Doberman pinschers

If your pet is excluded under your policy because of its breed, you have a few options. You can contact your insurance provider to ask for a rider, which is an add-on to your policy for a specific purpose—in this case, providing coverage for a pet that is normally excluded from coverage. Adding a rider will likely increase your policy premium.

You can also look at whether your pet would be covered by an alternative insurance provider. Not all renters insurance providers exclude the same breeds.

Another option is to get a standalone pet liability policy. Insurance providers that specialize in these policies are usually able to cover any breed.

How Much Does Renters Insurance Cost?

Renters insurance premiums vary by state and living situation. On average, you can expect to pay around $150 per year for a standard policy.

Your policy may cost more if you want more than $100,000 in liability coverage or a lower deductible. You may also need to pay extra if you want to add a rider to your policy to cover a normally excluded breed.

Renters Insurance vs. Homeowners Insurance for Pet Coverage

Many homeowners insurance policies provide the same liability coverage for pets as renters insurance. The liability coverage included in your homeowners insurance will kick in if your pet causes injury or damage to someone else or their property.

This means that if you own your home and already have homeowners insurance, you don’t also need to buy renters insurance. Just remember that if you get a new pet, you need to call your insurance company and add your pet to your policy.

Renters Insurance vs. Pet Insurance

Pet insurance provides a very different type of pet coverage from renters insurance. Whereas renters insurance covers liability resulting from your pet’s behavior, pet insurance covers its well-being.

Pet insurance typically pays for things like vet visits, surgeries, medications, and prescription foods. It also includes accident coverage, which pays for your vet bill in case your pet is injured in an accident.

To better understand the difference between renters insurance and pet insurance, let’s explore an example scenario in which your pet causes a bike crash. Both the rider and your pet are injured. Your renters insurance policy will pay for the rider’s medical bills as part of your liability coverage, while your pet insurance policy will pay for your pet’s veterinary bills.

Do you need pet insurance?

Whether or not you need pet insurance is up to you. The financial burden of caring for a sick or injured pet can be high, but it’s unlikely to be financially catastrophic.

On the other hand, while renters (or homeowners) insurance isn’t required, the liability coverage it provides should be considered a financial necessity. If your pet injures someone, you could be liable for tens or even hundreds of thousands of dollars in damages.

Conclusion

Renters insurance plays an important role in protecting from liability that results from your pet’s behavior. It will pay out up to your liability coverage limit if your pet injures someone or damages their property. If you have a pet, you should strongly consider purchasing a renters insurance policy to protect your finances in case of an accident involving your pet.

FAQs

Does renters insurance cover if your dog bites someone?

Yes, renters insurance will cover you up to your liability coverage limit if your dog bites someone. However, your dog must be listed on your renters insurance policy and must not be excluded from coverage based on its breed.

Does renters insurance cover carpet damage by my pet?

Renter insurance will cover damage to someone else’s carpet by your pet. However, renters insurance doesn’t cover damage to your home. Your landlord’s homeowners insurance policy may cover the damage or you may have to pay for repairs yourself.

Does pet insurance cover liability?

Pet insurance doesn’t include liability coverage. To be covered in case your pet injures someone or damages property, you must have a renters insurance or homeowners insurance policy and your pet must be listed on your policy.

By www.rentersinsurancecompared.com staff
www.rentersinsurancecompared.com staff is comprised of freelance writers who write for the site
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