Best landlord insurance for pet friendly properties?

[Rentwithpets]

Hi I am looking for landlord insurance for pet friendly properties, for accidental property damage caused by pets.

Does anyone have landlord insurance that covers for pets in the property? If so, have you ever had to make a claim? What was your experience with the claims process of your insurance company (whether the claim was related to pets or other reasons)?

I looked up Terri Scheer but looks like the cover is only $500, I am looking for an option to purchase a higher level of coverage.

Thank you!

 

[Angel]

I don't know why you need insurance for having pets. One of our properties has pets and the tenants know that if there is any damage, they pay or lose their bond. Same as if their kids damage anything.

What do you think could go wrong that would cost any more to repair than what the bond covers? Does regular landlord insurance exclude damage caused by pets?

I understand EBM covers accidental damage whereas other companies only cover malicious damage.

 

[Rentwithpets]

I don't know why you need insurance for having pets. One of our properties has pets and the tenants know that if there is any damage, they pay or lose their bond. Same as if their kids damage anything.

What do you think could go wrong that would cost any more to repair than what the bond covers? Does regular landlord insurance exclude damage caused by pets?

I understand EBM covers accidental damage whereas other companies only cover malicious damage.

Thank you so much, Angel! I guess the need for insurance depends on how much a property rents for, and that determines how much bond a tenant pays. Many tenants have sincere intent to pay for damage caused by kids and pets, just don't always have the money Legally tenants are not obligated to pay for damage above the bond, although good tenants will volunteer to pay because it is the right thing to do. The key is to choose more responsible tenants that will fix what is broken, whether or not they have pets or kids.

Say if there were urine smells in carpets + a few chewed doorframes from a very excited puppy, repair costs can easily add up.

Yes, most landlord insurance excludes "accidental" damage caused by pets (or tenants), damage from poor hygeine, poor housekeeping, etc. However they will pay for malicious damage.
I checked with EBM, they emailed back and said they don't cover for "accidental damage" but do cover "malicious damage" caused by pets. Terri Scheer does cover for $500 of accidental damage per insurance term (typically 1 year for most policies), which is good for topping up when the bond is inadequate

Would be interested in what experiences others have with this type of insurance.