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Pet owners love their fuzzy little friends, but they can sometimes cause trouble. Ripped-up cushions and scratched-up coats are a small price to pay for their companionship. Landlords, however, will find you liable if your pets turn their attention to the carpets, floors or walls. In these moments, pet damage insurance is valuable. It can also save you money in other ways.
Renters insurance isn’t mandatory in any U.S. state, though individual landlords can legally require it as a condition in your lease. Pet insurance is similar. If the landlord sees you have a pet, they may ask for a pet deposit and insurance, but that’s up to their discretion.
The amount of coverage is also up to the landlord. For renters insurance, the coverage limit can start at $20,000, but the average is $30,000 for personal property. The cost of pet liability insurance is dependent on the pet you’re insuring and its past history. A risky dog with prior bites may require $300,000 in coverage, but a smaller, unrisky pet may only need $25,000.
Renters insurance can cover damage caused by weather events, crime, accidents and credit card fraud if said fraud prevented you from paying rent. It can help protect your personal belongings after covered events, provide liability protection if you’re responsible for injuries or property damage to others and cover additional living expenses if a covered event makes your rental temporarily unlivable.
In some cases, renters insurance covers your pets. Here are the similarities:
Always read your insurance policy carefully and don’t assume you’re protected. Dog and cat bites can be fatal, and the victim has the right to sue for medical expenses if your pet is responsible. Paying out of pocket could cost you thousands, and many can’t afford that.
Renters insurance that includes pets is common, but it’s unlikely that your pet will be covered in every instance. This is what renters insurance and pet liability insurance may not cover:
Cats are typically cheaper to insure because they’re less risky, though their scratches, licks and bites can still cause infection or, in rare cases, death. Other pets, like hamsters, rabbits and snakes, could also harm others or the rental property by accident.
Always keep in mind that policies that protect you from damage caused by pets to a rental property are limited. A landlord usually asks for a deposit to cover damages if they occur.
Most insurance companies won’t offer stand-alone pet liability insurance policies, but nearly all will provide renters insurance with pet liability coverage. That coverage may be limited, though.
Lemonade is one of the few companies that lets you bundle renters and pet liability insurance. The company’s renters insurance will include damage caused by your pet to others or their property, including medical expenses. AI claims processing pays simple cases almost instantly, and there aren’t blanket breed restrictions. Coverage is available in most U.S. states.
However, Lemonade won’t cover exotic pets and will charge more for breeds with a history of biting. There are also upper age limits for insurance enrollments.
If you have a high-risk breed, such as a Pitbull, State Farm’s renters and pet liability insurance may work for you. State Farm won’t ask about breed during the quoting or underwriting process, which removes the risk of mid-policy surprise. However, dogs with a history of biting could trigger a policy review or renewal, and the minimum monthly payment may be higher.
Some policies will cover exotic breeds but may be subject to strict underwriting policies. Dogs and house cats are always admitted. In some cases, outdoor cats may be more expensive.
Allstate is another company that looks at a pet’s individual behavior rather than the breed. A Great Dane with a clean record won’t be too expensive to insure, but they won’t be turned away, even if they have a history. Allstate also looks favorably on owners with restricted breeds if they have a positive vet behavior assessment or an obedience training record.
Most exotic animals, like rabbits and snakes, are unlikely to receive coverage. Outdoor cats have zero restrictions, but Allstate may require a vaccination record and a vet’s assessment.
Under its standard renters policy, USAA imposes no restrictions on liability for cats and dogs. It’s an easy option for military homeowners, as this coverage is limited to U.S. military personnel, veterans and their families. If you aren’t in this demographic, State Farm and Allstate may be more appropriate options. You can also bundle pet health insurance with your policy.
As with most other insurance companies, exotic pets aren’t included. USAA is the cheapest option if you qualify for coverage, with basic plans starting at $1 per day.
XINSURANCE covers any pet or dog breed, even restricted breeds, regardless of bite or claims history. This company will even cover working animals, such as guard, therapy and emotional support dogs. Police dogs, like narcotic or bomb sniffers, will receive coverage. However, these types of breeds will be expensive. Cats and many exotic animals are usually less expensive.
What’s more, XINSURANCE is available in all 50 states, as well as the U.S. Virgin Islands. However, some add-ons may face state-by-state restrictions.
If your pet bites someone or damages another person’s property, some standard renters insurance policies won’t cover that. To be sure, you’ll need to upgrade to pet liability insurance. Pet liability insurance can offer more protection for pets with a history or on the restricted list. Be sure to check your renters insurance policy before upgrading.
