Pets and your Home Insurance

Imagine you’re in the middle of redecorating when your pet knocks over a can of paint and spills it across the wall-to-wall broadloom. Before you can do anything, he runs through the paint puddle and jumps on your new sofa. What a mess! Are you covered?

The answer depends on the type of insurance coverage you have on your home and your personal property, and if there are any conditions or limitations within the policy. Three basic types of home policies are available and each one provides a different level of protection.

A Standard Policy provides coverage against "specifically named perils". If pet damage as described above is not specifically named, there is no coverage.

A Broad Form Policy provides all perils coverage on your building (subject to exclusions), and specifically named perils coverage on your personal property. With this type of policy you may have insurance coverage for the damaged broadloom, which is part of the building, but not for the sofa, which is considered personal property or contents. In the absence of a pet damage exclusion, you could submit a claim for damage to the broadloom. There would be no coverage for the pet damage to the sofa.

A Comprehensive Policy (often referred to as "all risk") offers protection against direct physical loss or damage on both your dwelling and your personal property. All Risk policies are subject to specific exclusions and in many cases, higher deductibles. This type of policy would provide coverage for the damaged broadloom and the sofa unless there was an exclusion stating otherwise.

If you have questions about your home and personal property policy, including coverage exclusions and limitations, call us. We’re here to help.

The articles which appear in this publication represent the opinions of the authors and do not represent or embody any official position of, or statement by IBAO or Blue Sky Financial Group; nor do they attempt to set forth definitive action standards or to provide legal advice.