Archive for the ‘pet insurance’ Category

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California Assembly Advocates Pet Insurance Reform

August 24th, 2010 by Iris | Comments Off | Filed in insurance facts, insurance news, insurance specialists, pet insurance

You can’t declare them as dependents or write off their expenses, but to many of us, our pets really are part of the family, and many of us spend hundreds of dollars a year on pet insurance, just in case a major veterinary event occurs.

Now, California Democratic Assemblyman Dave Jones has taken inspiration from national health care reform, and sponsored AB2411, a bill that would improve veterinary pet insurance for animals in the Golden State by requiring more, and more detailed, information from pet insurers about the level of care covered by their insurance plans. Originally, Jones wanted the creation of a separate section of the state insurance code just for pet insurance, but that concept was removed from the final bill.

The measure would require that pet insurance companies disclose on their websites any policies that limit coverage.

The bill was approved by the state Assembly in a 42-22 vote, and has been sent to the governor for his review.

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Dog Bite Claims Escalate Over 2008

August 18th, 2010 by Iris | Comments Off | Filed in homeowners insurance, pet insurance

According to data compiled by the Insurance Information Institute, dog bites accounted for more than a third of all liability claims by homeowners in 2009 and incidents were up 6.4% over 2008 for a whopping total of $412 million. The average cost of a dog bite claim ran $24,840 in 2009 over the $24,461 paid in 2008. Since 2003, the cost of these claims has spiked 30%.

In a statement, the vice president of I.I.I., Loretta Worters, said, “The rise in dog bite claims over the last seven years (2003-2009) can be attributed to increased medical costs as well as the size of settlements, judgments and jury awards given to plaintiffs, which have risen well above the rate of inflation in recent years.”

The Centers for Disease Control and Prevention estimate that every year, 4.7 million people in the U.S. are bitten by dogs; 16 fatally. About half of those bitten are children who will require medical care. About 50% of the total number of bites take place on the dog owner’s property — that last bit alone is a source of major concern to insurers.

Dog bite laws vary from state to state. In some, the owner is automatically held liable, while others give the animal a pass on the first incident with liability and a label of “vicious propensity” attached to second occurrences. There are also laws pertaining to potential negligence on the owner’s part in controlling the dog.

Although you know your pet’s personality, the best course of action, especially in large group settings, like a social gathering or party, is to keep the dog away from your guests — especially children. A single dog bite claim will raise your homeowners premiums unless you get rid of the animal, which few families are willing to do. Don’t try to predict your dog’s emotional reaction to any person or any siltation. Err on the side of caution for both your sakes.

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Two Cities in Mississippi Make Insurance Mandatory for Pit Bull Owners

July 28th, 2010 by Iris | Comments Off | Filed in homeowners insurance, insurance news, pet insurance

Two cities in Mississippi have enacted legislation making it mandatory for owners of pit bull dogs to have insurance.

In Brandon, owners of pit bulls have two months to obtain necessary permits, and will be required to have liability insurance and special pens for the dogs. Flowood residents, on the other hand, have only one month to obtain their permits.

The local paper, the Clarion Ledger is reporting that leaders in both cities were unanimous in their adoption of regulations of pit bull dogs and similar breeds last week.

Under the new regulations, pit bull owners must have a pen of at least 100 square feet, with a roof, a concrete floor, and a chain link fence at least six feet tall. Those residing in Brandon must have their pens in a fenced back yard. In addition, owners must have at least $100,000 of liability insurance.

Violators of the new regulations can be fined up to $1,000 and jailed for up to three months.

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Auto Insurance for Pets: a Growing Trend

January 28th, 2010 by admin | Comments Off | Filed in auto insurance, pet insurance

As animal lovers, most of us take good care of our pets: we feed them the best pet food available, make sure they get ample exercise and attention, train them to have good “house manners,” and make sure they’re adequately restrained when coming along for the ride in our cars or trucks. Until relatively recently, though, if our pet dogs or cats were injured during a stint as passenger, they were only covered as part of the “personal property” allowance in auto insurance policies.

It’s only in the last few years that insurance companies began to question what happens when pets are injured in car accidents, and Progressive Insurance was the first to do something about it, by included pet coverage as an option on their auto policies.

Since Progressive’s trend-starting move, USA Today reports that three other insurers have jumped on the pet coverage bandwagon, offering insurance of $500-$1,000 for pets killed or injured in traffic accidents, all at no extra cost to their customers, and with almost 200 million licensed drivers across the country (according to numbers provided by the Federal Highway Administration), people like Lori Conarton of the Insurance Institute of Michigan believe the market will become more and more competitive. “If other companies find that people want this type of coverage,” Conarton said, “they’re going to want to start offering it, too.”

So which insurers offer pet accident coverage?

Progressive was the first, rolling out their options in sthe summer of 2007. Miriam Dietcher, the company’s director of marketing explains, “We did it because we know how much our customers love their dogs and cats,” Deitcher says. “At first we provided $500 worth of coverage, but in March [2009], we increased that to $1,000, to make sure we’re covering even more.”

Auto-Owners Insurance and Farmers Insurance also offer coverage for pets injured in traffic accidents. “We estimate more than 63% of our customers have pets, and caring for them after an accident can be expensive,” said Farmers senior vice president Brian Dwyer.

And what about people whose insurance is with a carrier that does not offer pet policies? They can still file a claim under property damage, but it’s important to remember that what insurance companies consider legitimate property damage differs from state to state and insurer to insurer, and it’s not at all unusual for such claims to be denied.

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