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How to Protect Yourself from a Dog Bite Claim

Learn How to Prevent a Dog Bite Claim

How to Avoid a Dog Bite Claim in Olympia, WAAccording to the Insurance Information Institute, over $400 million a year is paid out for dog bite claims each year by insurance companies. While that may seem like a lot, there is an estimated $600 million that was excess over the home insurance policy limits. Protecting yourself with sufficient limits, as well as considering an umbrella insurance policy, could help you avoid any out-of-pocket expenses should your pooch bite someone.

Owning a dog can be and usually is a joyous union. Dogs can become aggravated or agitated by small children pulling their hair, tail or stepping on them. It is important to watch your pet and never leave a dog alone around small children. While a dog may be provoked, it is still your responsibility to ensure your pet does not bite someone. While most claims are from small bites and only require first aid, the lasting damage can still be severe such as nerve damage in hands or feet.

The Insurance Information Institute states that there are 3 kinds of laws regarding pet liability:

  1. Dog-bite statute: The dog owner is automatically liable for any injury or property damage the dog causes, even without provocation.
  2. “One-bite” rule: In some states, the owner is not held liable for the first bite the dog inflicts. Once an animal has demonstrated vicious behavior, such as biting or otherwise displaying a ‘vicious propensity’, the owner can be held liable. Some states have moved away from the one-bite rule and hold owners responsible for any injury, regardless of whether the animal has previously bitten someone.
  3. Negligence laws: The dog owner is liable if the injury occurred because he or she was unreasonably careless (negligent) in controlling the dog.

While it is important to understand your state laws regarding dog bite liability, the best course is prevention.

The Humane Society lists several ways to avoid being bitten by a dog. Because dogs can’t tell you what their thinking, it is important to watch the dogs body language. Some signs the dog may be uncomfortable include:

  • Stiff tail
  • Pulled back ears
  • Intense stare
  • Backing away
  • Dog is visibly injured
  • Don’t take toys away quickly

If someone asks if they may pet your dog, ask them politely to let the dog smell them first to ensure the dog is comfortable with it. If your dog reacts negatively to someone, it is okay to tell that person it isn’t a good idea.

We hope that your pup never bites someone, but unfortunately it does happen. Ensuring that your home insurance limits are sufficient and also carrying an excess liability policy called an umbrella insurance policy may help protect your pocketbook in the unfortunate event.

If you have questions about your home or renters insurance, call the insurance agents at Trucordia. They have locations throughout Washington State in Olympia, Centralia, Vancouver and Marysville. They have years of insurance experience and can help you insure everything from your home to your auto or business Insurance. They live where you do and are an independent insurance agent, so they can help you find the right company to fit your needs. You can also check out their website, 24/7.

 

 

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Replacement cost vs. Actual cash value – What does it mean?

An insurance policy’s usefulness is determined by the policy language used. Specific policy language determines what is covered, what is excluded and the amounts covered under the policy. Reviewing your insurance policy language every now and again may be helpful in the event of a claim, as you would have a better understanding of what may be covered.

Insurance policies are full of language and terms that may not be clear right off the bat. Many terms are specific to the industry and to the specific type of insurance that is being purchased. Two such terms are Replacement Cost and Actual Cash Value. These terms can be a bit confusing to decipher between.

Replacement cost vs. Actual cash value in Washington:

  • Replacement cost is very simple: It is literally the cost to replace your item with an item of similar quality. Replacement cost policies tend to be a bit more expensive since you are essential getting a brand new item for one that may have otherwise depreciated. Replacement costs are agreed upon by all parties before the insurance policy is finalized. If you have high-ticket items (jewelry, art, RV, boat, luxury vehicle or classic car) this may be the best type of coverage if you can afford it.
  • Actual cash value is the cost to replace the item minus any depreciation. For example, if you were in an auto accident and you had an actual cash value policy, your insurance would pay out the cost of the vehicle minus any depreciation, so if your vehicle is worth less than what you owe you would be responsible for paying that difference out of pocket, unless you had gap insurance. An actual cash value policy can put you in a tight spot if your items cost more to replace or repair than your policy pays out. Depreciation values for big ticket items like RVs or luxury cars can be quite large, so make sure that you have a nest egg and be prepared to pay some out-of-pocket for a loss if you have an actual cash value insurance policy.

No matter which policy type you choose, the local experts at Trucordia can answer any questions and walk you through the different types of scenarios to see which policy type is right for your situation. Trucordia in Olympia, Washington can guide you through your homeowner’s insurance policy and more, like auto insurance. Their years of insurance experience can save you a bundle, and they live right in your area, so know firsthand what your insurance needs might be. You can also visit their insurance website 24/7 to learn more about the insurance products they offer.

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Closing the Gap: Do I need Gap Insurance in Olympia, WA?

Congratulations, you just bought a new (or new to you) car! You were able to afford a down payment and now you are the proud owner of a new car and a monthly car payment. But, what happens if your car becomes involved in an accident and you owe more than your car is worth?

Imagine this scenario: While out enjoying your new car, you hydroplane and hit a guardrail damaging your new vehicle beyond repair. The insurance company is telling you that your new car is a total loss. While you may not be able to drive the vehicle, you are still responsible for the loan associated with vehicle. If you have gap insurance in Olympia, WA, you may be only responsible for your deductible.

How gap insurance in Washington works:

What is depreciation:  Vehicles, especially new vehicles, begin to depreciate as soon as you drive them off the dealer lot. Depreciation can be quite surprising and is not necessarily tied to the base cost of the vehicle. Due to wear-and-tear, fluctuating market conditions and a number of other factors, depreciation in the first year is the steepest. Even with proper care and maintenance and no accidents, a vehicle will continue to depreciate. Even though the value of the vehicle will go down each year, the amount you owe on the vehicle will not. Depreciation will vary between make and model but here is a baseline comparison:

Year Vehicle Style Base price Depreciation year one
2013 Subaru Legacy 2.5i sedan $21,295 $3,069
2013 Honda Civic Base sedan $22,715 $4,406
2013 BMW 328i sedan $34,900 $5,198
2013 Ford F-150 $28,595 $5,915
2013 Toyota 4Runner $37,155 $6,380

 *Figures courtesy of automobilemag.com

Why gap insurance: In the unfortunate event that your vehicle is totaled, and it is an event covered under your current auto insurance policy, your insurer may pay the actual cash value of the vehicle, which may be significantly less than the outstanding vehicle loan. In that case, you would still be responsible for the remaining balance between the loan and the insurance payout, which could be thousands of dollars. If you choose to purchase gap insurance in Olympia, Washington, your insurance company would cover the remaining balance between the actual cash value of the vehicle and the remaining loan balance, typically up to 25 percent, potentially saving you thousands of dollars.

Options for gap insurance: There are two options for purchasing gap insurance in Olympia, WA. It can be purchased from the dealership or through an insurance agent. If you choose to purchase gap insurance through the dealership you purchase your vehicle from, the gap insurance will be built into your loan. The average price for gap insurance from a dealership is around $1,000, but add interest and taxes and it can add up to much more. If you choose to purchase gap insurance from an insurance agent, on average it would add less than $10 per month to a policy! There may be certain stipulations associated with a gap insurance policy:

  • The loan may need to be through a financial institution rather than an individual
  • Your current auto insurance policy may need to include Collision and Comprehensive coverage
  • Your claim may need to be a covered Collision and Comprehensive coverage event
  • Your vehicle may need to be determined as a total loss

Before you purchase a new vehicle, make sure to check with your licensed insurance agent in Olympia, Washington to see how you can add gap insurance to your new vehicle policy. The local, independent agents at Trucordia can assist you with adding or amending an existing policy or setting you up with a new policy. Their years of insurance experience can save you a bundle. You can also visit their insurance website 24/7 to learn more about auto insurance or the other insurance products they offer like classic car or home insurance.

 

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