Dogs are man’s (and woman’s) best friend: They keep us company, encourage us to exercise, share our happy moments and comfort us when we are sad. Most owners agree that their dog is part of the family. 39% of American households own at least one dog, says the Humans Society of the United States.
Unfortunately, sometimes, dogs bite. In fact, 4.7 million people are bitten by a dog each year, and 900,000 of those require medical care. The average cost per dog bite is $24,840.
According to the III (Insurance Information Institute), dog bites account for over a third of all homeowners liability claims paid out in 2009. Nationwide, these claims added up to $412 million! Yikes!
Over the past 7 years, not only the cost per claim, but also the number of claims have been on a steady rise… causing major concern for insurance companies.
What does all this have to do with your insurance?
A standard renters or homeowners policy will provide liability coverage for dog bites, including reimbursement for medic ...