Covering Pet Liability Costs With Renters Insurance

No matter how well-behaved your pet is, even the most responsible pet owners know that accidents can happen. Renters insurance covers liability costs, making it a valuable investment for pet owners with furry friends that could potentially injure someone or damage their property.

Depending on your insurance provider, coverage for certain dog breeds and exotic pets may be excluded. Renters insurance also doesn’t cover your pet’s health costs, which are covered by pet insurance. Despite these exceptions, renters insurance is vital for any renter with a pet.

Of the two main renters insurance coverages — personal property and personal liability — the personal liability portion of renters insurance covers third-party damage or injury caused by your pet. This means you are only covered if your pet hurts others or damages others’ property, while you and your property are not covered. When you purchase a renters insurance policy, you’ll have to decide on a liability coverage limit, and you’ll be responsible for expenses above that limit.

Some examples of pet incidents typically covered by personal liability insurance include:

• Your cat scratches a guest, and they require medical treatment.
• Your dog bites a visitor, and they need to go to the hospital.
• Your pet damages a guest’s personal property, like having an accident on their expensive laptop.

A typical renters insurance policy covers $100,000 in personal liability, but you often have the option to purchase additional coverage. According to the Insurance Information Institute, the average cost of a dog bite claim in the U.S. is almost $45,000, and severe incidents can cost even more. This means that renters insurance with pet coverage is a good investment even if you have calm, well-behaved pets, since even the best pets may lash out when stressed and you never know when an accident could occur.

Depending on your insurance provider, renters insurance liability coverage might not cover some dog breeds or exotic pets. Rightly or wrongly, some breeds of dogs, like pit bulls and German Shepherds, are considered to be more aggressive than other breeds and may not be covered for that reason. In addition, exotic pets like reptiles, wolves or other wild animals usually aren’t covered. If you’re not sure whether your renters insurance covers your pet, you should check with your provider.

Even if your pet isn’t covered under renters insurance liability coverage, you still have options. These include purchasing an umbrella policy with expanded coverage or purchasing pet-specific liability insurance, depending on your situation.

Renters insurance liability coverage doesn’t cover injuries your pet causes to you, or damages it causes to your property or your apartment. Renters insurance also doesn’t cover any of your pet’s health costs, which are covered by pet insurance.

For example, if your elderly pet has an accident on a carpet owned by the landlord, this wouldn’t be covered by renters insurance. Similarly, if your pet is injured inside or outside your apartment, renters insurance won’t cover the vet bill. Instead, you should consider purchasing pet insurance to cover your pet’s health expenses.

You can purchase renters insurance from most major insurance companies, as well as smaller insurers like Lemonade. Most policies require a minimum of $100,000 in liability coverage. With $20,000 of personal property coverage, typical renters insurance policies have an average cost of about $13 per month. You should be sure to shop around and compare coverage to find the best renters insurance providers to meet your needs and ensure you get the lowest rate.

If you’re concerned about your liability and need additional coverage, it generally only costs a few dollars per month to switch to a higher liability coverage limit of $300,000. If you’re not sure what coverage limit makes sense for your situation, most insurance providers are more than happy to help you find the coverage that works for you.

While many renters are familiar with rental insurance policies that cover basic risks like theft or property damage due to natural disasters, they may not be as familiar with the liability coverage portion of renters insurance, which includes pet liability coverage. Some common questions about pet liability insurance for renters include:

Margaret Wack is a freelance writer. Her writing on personal finance and insurance has appeared in venues including Money Under 30, The Simple Dollar and Fiscal Tiger.