[quote=Hatfield]I worry about this too. I have two rental units. Tenants in one unit do have dogs, and I wonder if I should ever rent to dog owners again. I have a $3M umbrella policy in addition to the regular homeowner & fire insurance policies.
Lately I’ve been reading up on real estate LLCs. In theory an LLC looks like an ideal liability limitation vehicle, it’s just really unfortunate that the California limited liability tax is $800/yr and applies to all corporations and LLCs. [/quote]
All dogs should be on special rider policies like expensive jewelry, etc. Most dogs will bite so it is a foreseeable event (strict definition of insurance) which should be exluded from coverage.
A relative had several dogs and after 6 years one of the dogs bit their son and son ended up in hospital with minor injury. Know someone whose small dog bit a kid right in front of him. Insurance company saw emergency room picture and immmediately wrote check for some crazy figure like 50K for minor scar.
So most insurance companies only ban certain breeds while they cap water claims at super low 5K(AAA). Water leak is generally not a foreseeable event, and they cap at ridiculous 5K??? Only explanation is that all insurance execs are big dogs owners?
Purely business, why rent to pet owners? Is it that difficult to find decent tenants?
