Monday, March 4, 2013

Renters and Dogs Liability

Just a quick Info note!  if you own and rent, you should first of all screen tenants for having dogs, specifically what kind of breeds.  Why? several breeds of dogs are not allowed on any property insurance whether you rent or not. In addition many insurance companies are excluding animal liability (ommonly dog bites) if your dog bites and injures someone. Compounding this issue is as a landlord you rent, you are unaware that your tenant has a dog or you know they have a dog not what breed, including half breeds. The insurance discovers through a drive by inspection there are dogs and dogs not allowed by their underwriting guidelines.  You now have 4 problems, cancellation of policy is likely, liability protection excludes dogs, your renter wont get normal liability coverage through a renters policy and now you have to find another company

This recently happened to me as an agent, insured placed tenant with dogs without notifying me first. Now I have to get the tenant covered for animal liability as there are banned dogs on site and a standard renters policy wont cover, regardless of dogs and would cancel.

Discuss with your agent, before you lease!

Tenants and animals
Require HO-4 renters policy
Discuss the pros and cons of property ownership Individuals v LLC or INC
Inspection and walk through of premise


Please feel free to contact me if you have any questions