DOG BITE CLAIM COSTS ARE UP!

In an article written by Liz Pulliam Weston she noted the following:

Consider:

• Dog bites make up one-third of all homeowner insurance liability claims, according to the Insurance Information Institute, and cost insurers $356 million in 2007.

• The average cost of a dog-bite claim was $24,511 in 2007, the institute found. That’s 11.5% more than the year before and 28% more than in 2003.

• More than 4.7 million people are bitten by dogs annually, according to the national Centers for Disease Control and Prevention. Nearly a million of them need medical attention. Some die. In 2007, 32 people in the U.S. were killed by dogs, according to Los Angeles attorney Kenneth Phillips, who specializes in dog-bite cases.

http://articles.moneycentral.msn.com/Insurance/InsureYourHome/your-dogs-bite-could-bankrupt-you.aspx?page=1

This article should raise the following questions:

1. Do I have enough insurance to protect my assets and future earnings if my dog bites someone.

2. Is my dog on my insurance company’s “dangerous dog list”