home insurance premiums Archives - Page 4 of 4

You might have heard that insurance companies will deny coverage for homeowners who have “dangerous” dogs – dog breeds that are on the insurance doggie blacklist. That can leave people in the dilemma of choosing their pet or their home insurance, which is a position that no one wants to be in. Your four-legged pal is a member of your family! We’ll tell you what you need to know about why insurance and dogs don’t always get along and what it means for you.

What breeds are considered “dangerous”?

You’ll have to check with your insurance company to see which specific breeds they classify as dangerous, but the most common ones are…

Pitbulls
Rottweilers
German Shepherds
Dobermans
Huskies (Alaskan malamutes and Siberian huskies)
Wolf hybrids
Chow Chows
St. Bernards
Great Danes
Akitas
American Staffordshire Terriers
Boxers
Perro de Presa Canarios

Why do the insurance companies not like dogs?

It’s not that insurance companies don’t like dogs, and you may never have had any problems with your pet. It’s not personal against your four-legged friend, or against you. It’s the fact that dogs with tendencies of aggressive behavior are a major risk – they could bite and seriously hurt someone. Many of those bites require medical attention. Bites could mean lawsuits, which insurance companies don’t love.

What happens if I have a dog on the dangerous dog list?

If you have a dangerous dog, you might have a hard time finding home insurance, and if you do it might be more expensive than if you didn’t have the dog.

Of course, it all depends on your insurance company. If you’re shopping around for insurance, be sure to ask about your dog and what that means for your home insurance. Keep in mind that if you don’t tell the insurance company about your pet when you’re applying for insurance or if you get a canine friend without informing your current insurance company, they could deny future claims.

(You may also want to consider getting additional liability insurance – just in case.)

What if I really want to get one of the “dangerous” breeds?

You might be a dog lover and experienced trainer who can handle one of the above breeds. You need to do your research by calling your insurance company and telling them what kind of canine you’re planning on bringing into your home. You need to ask about any consequences of adopting your new best friend. If they say that they won’t cover you anymore if you get the dog, you’ll need to research how expensive it will be to insure your home and canine elsewhere. The cost may be significantly higher.

Reduce your risk by being a responsible dog owner.

Regardless of your pet’s breed, it’s important to be a responsible doggie parent. You need to reduce the risk of aggressive behavior, even if your buddy has never been mean in his or her life. There are a few things you can do to lower your risk.

1. Use a leash and have tags on the collar.

When you’re walking your dog, use a leash that’s strong enough for your dog. Make sure that you’re always focused on your pup and their behavior. Also, put tags on the dog’s collar – you can even consider microchipping them.

2. Have a fence for your yard.

The fence has to be tall enough to keep your dog in. It should be six to eight feet depending on how big your pooch is. Make sure that the fence is in good repair and that there aren’t any ways for your dog to stage a great escape – i.e. holes in the fence or ways they can burrow under. Just be sure that you choose a reputable fencing company to install or repair your fence.

3. Socialize puppies properly.

Make sure that your puppy gets familiar with both people and other dogs. Take them to puppy obedience school to ensure that they’re trained properly – the point of the classes is to train the owner, too!

4. Spay or neuter your dog.

Getting your pet fixed can curb their territorial and aggressive instincts. Plus, it’s just being responsible.

5. Train your dog not to nip, bite, or chew on hands or furniture.

If your dog starts growling or chewing, distract them by clapping your hands. Present them with a toy that’s appropriate for them to play with and chew on. You need to redirect their attention. Praise your dog’s good behavior and don’t reward bad behavior.

6. Give your dog lots of positive attention

Show your canine friend love and kindness while also being a leader for them.

7. Contact your vet if your dog seems off.

If your dog seems anti-social or unusually aggressive, talk to your vet. They can refer you to behavior professionals that can help you work through the problem. Take extra care when taking your dog out.

If you have a “dangerous” dog breed, you might have a harder time finding insurance. You might face higher premiums. It’s not that insurance companies have anything against dogs or pets. It’s just that they see certain breeds as coming with more risk than others. That’s why the “dangerous dog” list exists.

Need a quote for your home insurance or renters insurance? We’d love to help you out with that. All you have to do to get your free quote is fill out our quote form or give us a call today. We’d be happy to help you with any of your insurance needs and answer any questions you might have.

Sources:

https://www.forbes.com/sites/cateyhill/2012/05/30/11-riskiest-dog-breeds-for-homeowners-and-renters/#104c7ad36d9a

https://www.cdc.gov/features/dog-bite-prevention/index.html

Everyone knows that filing claims can cause your homeowner rates to go up. But the latest news shows that your bill paying habits (and your credit score) could work against you too.

You probably know that your credit score can affect your mortgage rates, right? The better your credit score, the better the mortgage rate that you can qualify for. But what about your home insurance rates? You might want to hold onto your hat.

The latest reports show that paying your credit card bills late can hurt you when it’s time to renew that home insurance policy next year. While you might wonder what your credit score has to do with your insurance rates, underwriters tend to think it’s pretty important. In fact, the industry will often use a credit-based score to calculate your rates. That means that you level of debt and your late payment history count. Bottom line: paying those credit cards late will hurt you insurance-wise.

How much are late credit card payments costing you?

Are you the type of person that pays your bills on time? Well, that’s good! You’ll be rewarded. But if you struggle to pay your credit cards on time, that’ll be reflected in the rates that you pay annually.

Let’s find out what kind of an effect a drop in your credit score can have on your insurance rates. The latest study from Insurancequotes.com tells us that a drop from an “Excellent” to a “Fair” credit score can cause a 36% increase in your premiums. Yikes! And that’s just the “Fair” rating. What about a “Poor” credit score? Prepare for an average increase of 114% on your premiums. That’s more than twice what people with excellent credit will pay.

Now here’s the scary part. Every insurance company is different and every state is different. Some poor folks wish they were only paying 114% more! Depending on your state, you might be paying a stiffer penalty for your low credit rating.

What about here in Atlanta? Drum roll, please…

The same study from Insurancequotes.com shows us that overall, as far as premiums go, Georgia ranks 22^nd out of the 50 states. But Georgia currently has 132% higher rates for people with poor credit than for people with excellent credit. So, for example, a person with excellent credit might have a $1,000.00 homeowner’s premium in Atlanta. His neighbor with poor credit would pay a $2,320 premium for the same house next door.

Wait a second, that doesn’t seem fair!

Well, it might seem that way. Insurance companies and lenders make their decisions based on statistics. Since they’re the ones taking the credit risk, they get to make the rules. They point to the fact that the statistics don’t lie. It seems that a homeowner’s credit history helps to predict the likelihood of filing a claim. However, that doesn’t mean you can’t do something to help yourself.

How to get lower home insurance quotes.

Remember, every insurance carrier is different. That means you need to shop around! We encourage you to reach out to an independent agency like Atlanta Insurance to get a few quotes to choose from. Why do we suggest an independent agency? Certain agencies are “captive” agencies. In other words, they only work for one insurance company. On the other hand, an independent agency, like Atlanta Insurance, can provide free quotes from many of the top carriers in the nation. This means you have more quotes to choose from.

So, if your homeowners rates have gone up, it means it’s time to shop. Every dollar you save is a dollar earned that can go towards taking care of your family.

How to clean up your credit score and save some money.

If you want to raise your credit score, there are quite a few things that you can do. Doing this proactively will help you next year when it’s time to renew. Here are a few suggestions to protect your credit beginning now:

1. Set a budget.

A budget is a “four-letter word” for many people, yet setting a budget is the key to taking control of your finances and your credit ratings. Some people use the old-fashioned envelope technique. This means setting up an envelope for each of your monthly expenses. Then you pay the envelopes weekly as you get your paycheck. At the end of the month, each envelope will ideally have the money to pay the bill. This means we need to get tough with ourselves.

2. Make your lunch at home.

It’s amazing how many people buy breakfast, lunch, and coffee every day at work. This could easily add to $500 a month on your credit cards. That’s money that could go towards paying the credit card bills. It may not be glamorous, but eat breakfast at home. Make your coffee at home and put it in a thermos to drink with your brown bag lunch. Remember, saving $500 a month is equivalent to saving $6,000 a year. Now that is glamorous!

3. Pay your bills on time.

This requires self-discipline. If you can, use the auto-pay feature so that you pay on time every month. If you can’t, use “auto debit” then set an alarm on your phone to remind you every month when the bills are due.

4. Stop using credit cards.

Just because you have them doesn’t mean that you have to use them. Pay them off one at a time and stick them in a drawer. If you must use them, set a few family rules. For example, in my home, we don’t put anything on the card unless we can pay it off in full by the end of the month. If you have to carry a balance, keep it minimal.

5. Consumer credit counseling.

Talk to a credit professional to set up a plan that will help you to raise your credit score. There’s no shame in asking for some help to figure out your finances.

Some final encouragement.

Nothing worthwhile is ever easy at first. So stay focused on the prize. Raising your credit score could cut your home insurance rates up to 50%. It will also allow you to get lower interest rates on your credit cards and for any future mortgages. This will save you many thousands of dollars over the life of the loan.

Hang in there, Atlanta. Set a budget. Reach out to a consumer credit counselor. Then contact your local Atlanta Insurance agent to get you affordable home insurance quotes to choose from.

If you’d like to get a free quote for your home insurance, let us know! Fill out our quote form or give us a call and we’d be happy to help you build an insurance plan that’s specifically designed for your family.

Why some dog breeds are blacklisted by home insurance companies