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Home insurance rates can increase for many reasonsPosted On Mon, March 26, 2012
A report from Bloomberg showed that consumers who aren't careful can see their home insurance rates increase substantially.
Homeowners who have aggressive dogs may want to make sure they stay away from others. The report noted that many dog bites happen on a person's own property, and these incidents can turn out to be costly.
In addition, if a person has a pool, they may want to keep an eye on it at all times. Drownings can happen at any time, and even if a child drowns in a pool and did not have permission in the first place to enter it, liability may still be on the homeowner, the report said. Furthermore, trampolines are dangerous and could actually prevent a person from getting a home insurance plan. If they are allowed, the insurance company may force significant safety precautions to take place. It also may be a good idea to avoid building a treehouse, as these can cost a large sum of money due to liability claims.
"Legal liability can be more costly to home insurers than property damage," Loretta Worters, vice president of the Insurance Information Institute, told the news source. "People sue for millions of dollars for minor injuries. Companies are not going to walk away from the business because you have a dog or pool, but they'll charge you more."
Even if a person keeps their home safe, there may be issues with insurance costs. Those who want to ensure they have the lowest home insurance rates possible may want to go online and see what they can find. There are many home insurance quotes available, and a person may be able to find one that fits their situation.
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