Phoenix, Ariz. November 30, 2010. As consumers continue their hunt for great deals following Black Friday and Cyber Monday, AAA would like to remind shoppers that some items may carry a heftier price tag than what is listed. While puppies, diamonds or trampolines may seem like the perfect present for a loved one, shoppers often overlook the impact these gifts may have on their homeowner’s or renter’s insurance policy.
“Many consumers splurge on big ticket items this time of year, but most will not consider the residual costs associated with these items,” said Brad Oltmans, vice president of insurance for AAA Arizona. “Certain toys or dog breeds may be excluded from your homeowner’s insurance, raise your premiums, or even prevent you from getting coverage from some companies. Therefore, consumers should determine how these items will affect their insurance before they buy.”
AAA Arizona encourages consumers to consult their insurance agent before buying the following items to determine how they will affect their homeowner’s or renter’s policy:
- Trampolines. Insurers view outdoor trampolines as a major personal injury risk. Depending on your insurance provider, your liability coverage for injuries caused by the trampoline may be excluded from the policy. Alternatively, you may be charged a higher premium for coverage or denied coverage entirely.
- Certain breeds of dog. According to the Centers for Disease Control and Prevention, approximately 800,000 dog bites result in injuries requiring medical attention each year, and half of those bites occur on the dog owner’s property. Therefore, many insurance companies will exclude breeds such as pit bulls, Rottweilers, and other breeds viewed as vicious from a homeowner’s policy, leaving owners financially responsible for their dog’s behavior. As with trampolines, certain dog breeds could also raise insurance rates or prevent coverage altogether.
- Fine jewelry, electronics, art or collectibles. Luxury items are not commonly excluded from homeowner’s or renter’s policies, but they are only covered up to a certain value, and rarely to the full appraised value of the item. Contact your insurance provider to place high-value items on a “schedule” – or specifically list the item on your insurance policy – or purchase personal property insurance to protect the full value of that necklace, television, painting or stamp collection.
AAA Arizona, the Arizona affiliate of AAA, provides automotive, insurance and auto travel services more than 800,000 Arizona members. Annually, AAA’s Emergency Road Service responds to more than 450,000 calls for help on the streets and highways of the state as well as providing insurance, travel, and financial services to AAA members and motorists. Since its founding in 1927, AAA Arizona has been a leading advocate for the safety and security of all travelers. In 2008, AAA was ranked the No. 1 “socially responsible” brand by Landor’s BrandAsset® Valuator.
 
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