Homeowner's insurance...?

Question

I own a multifamily property and rent one of the apartments to my cousin. He owns a Rottweiler and asked me if he could keep the dog in my yard and I accepted. I am now a bit concerned because my homeowner's insurance isn't aware of this and it can bring me many problems. He says that he has renter's insurance and that would cover any accidents caused by his dog. I think this is bullshit, but if anyone can help me and give me some information I would kindly appreciate it.

Answer 1

OK, I'm a bit concerned that you have a multifamily property on a HOMEOWNERS policy.  

Is it insured correctly?

Also, HIS renters insurance (which may or may not cover HIM, for his dog biting) WILL NOT cover you, the landlord, for that same dog biting.  

Rotties are a big liabiltiy hazard.  If your insurance company finds the dog there, expect to see your policy cancelled.  If the dog does bite, and you do get sued, even if you DO get the claim covered, you're going to get cancelled, and have a d**n hard time finding anyone else to insure you - because, clearly, you allow tenants to keep hazardous dogs on your property.

Answer 2

First question would be does you home-owners insurance company know you've rented out the apartment? If they do are you carrying "commercial" insurance coverage on the rental units?

The best thing to do is call your agent and tell them you've just found out that one of your tenants has the dog and what changes to your coverage will be needed? It is best for them to know before you try to submit a claim.

  

Answer 3

You should tell your cousin you want to see his declaration page.  Or, call his agent and be added as an additional insured to his policy so you get notified if his policy cancels.

Call your agent and see if your company covers dogs.   Many companies do cover dogs.  But find out so you know.

Answer 4

Regardless of whether or not your tenant has renters insurance, you could possibly still be found libel as the property owner if the dog were to injure someone as you allowed the dog to be there and owned the property.  Even if you were not found libel, you would almost definitely be named in a suit and need to defend yourself.

Answer 5

I used to inspect property for insurance companies to validate info,and verify possible hazards leading to claims. If an inspector passes by your property at the request of the ins. co. and sees the dog, they have the right to raise premiums,cancel coverage(after warning),and also deny claims from damage resulting from the dog.