Pets of all kinds can bring joy to a family, but they can also cause problems with relatives or neighbors. If you are considering a new pet, it is important for you to know how it will affect your

homeowners insurance policy, which protects you and others if there is a pet incident. Equifax expert Linda Rey explores how pets and homeowners insurance interact in her article on the Equifax Finance Blog, “

Your Homeowners Insurance Policy and Fido.”

The article cites that there are around 350,000 dog bites each year, and each bite carries with it an average $19,000 insurance claim. Even with that risk, most homeowners’

insurance policies do cover animal liability, though it may be limited or restricted by the breed of animal. In other cases, they may offer you coverage with a surcharge to cover animals which are considered high-risk, dangerous or questionable. Many dogs breeds like Rottweiler, Mastiff and other large breeds are cited on that list. The list also includes many exotic pets, like snakes, raccoons and non-human primates.

It is important for you to call your insurance provider, and find out what your coverage options are. For more information about insurance, taxes, retirement,

real estate and everything personal finance, check in with the Equifax Finance Blog.

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