3 Things That Increase MA Homeowners Insurance Rates

We often think about things that can reduce our insurance rates, but it’s equally important to avoid things that could increase your rates. Here are a few things that increase MA homeowners insurance rates:

Installing a Trampoline

Kids love trampolines. Let’s face it, adults love it too! Trampolines are among the things that increase MA homeowners insurance rates for one major reason – they tend to cause a lot of injuries. When someone gets injured on your property, they can sue your homeowners insurance. Given how common trampoline injuries are, insurance companies will increase your rate to cover the added risk and potential for insurance claims.

Getting a Dog

If you’re a dog lover, you probably think it’s unfair that dogs can increase MA homeowners insurance rates. According to the Centers for Disease Control and Prevention, a large percentage of insurance claims are related to dog bites. In their 2014 report on “Home & Recreation: Dog Bites,” a third of all homeowners insurance claims was attributed to dog bites. That’s quite a significant figure and therefore a legitimate reason for an increase in insurance rates for dog owners.

It’s important to know that insurance companies have specific policies¬†when it comes to dog bite claims. Some MA insurance companies may limit or exclude coverage for certain dog breeds, specifically those that are known to be aggressive. Be sure to check with your insurance company regarding your coverage for dog bite incidents and claims.

Wood Burning Stoves

Wood burning stoves are popular in New England. It’s preferred by some as a more cost effective heating solution, compared to gas or oil. However, they do come with added risks of fire and carbon monoxide poisoning. Anytime you have an open flame in your home, there’s added risk. Some MA insurance companies may lessen the increase in your premium if you can provide documentation that the stove was installed by a licensed contractor and meets local building safety codes. Installing smoke detectors, carbon monoxide detectors, and fire extinguishers in your home is also advised.

Now that you know this information, before you purchase a trampoline, dog, or wood stove, give your insurance company a call. The added homeowners insurance premium might influence your decision.