Buying home insurance is a necessary evil. You know you need it but hate the premium. Owning a dog can sometimes increase your premium. But the question is, will a cat affect your premium?
There are a lot of factors that go into determining your home insurance premium. We’ll investigate if owning a cat is one of them.
Can a Cat Affect Home Insurance Rates
In some instances, owning a cat can impact your home insurance rates. But the exact effect will depend on various factors, including your insurance company and your cat’s breed and behavior. Some companies will frown on breeds that are high risk with a history of aggression.
For example, the Bengal is considered a high-risk cat because of their high energy and strong prey drive. An insurance company may consider raising a Bengal owner’s rates.
In general, home insurance companies consider several factors when determining insurance rates.
3 Cat Factors that Affect Home Insurance
- Behavior: The behavior of your cat can impact your home insurance rates. If your cat has a history of getting into fights with other animals, your insurance company may consider them to be a higher risk and charge a higher premium for your coverage.
- Insurance coverage: The type of insurance coverage you have can also impact your home insurance rates. For example, if you have liability coverage, which covers damages or injuries caused by your cat, your insurance rates may be higher. On the other hand, if you have standard homeowner’s insurance coverage, your rates may not be affected by your cat.
- Claims history: If you have made claims related to your cat in the past, such as claims for damages or injuries caused by your cat, your insurance company may consider you to be a higher risk and charge a higher premium for your coverage.
Here’s another kitty article you’ll like: Why Do Cats attack: 7 Reasons
Although a slim chance, owning a cat might impact your home insurance rates, but the exact effect will depend on various factors. Quite frankly we seriously doubt your Ragdoll kitty is going to go on a rampage through the neighborhood.
By understanding the factors that can impact your home insurance rates, such as breed, behavior, insurance coverage, and claims history, you can make informed decisions about your coverage and help ensure that you are paying a fair premium for your home insurance.