Homeowners insurance providers base your rate on what liability you will be to insure. Having a pool and/or a dog will more than likely increase your homeowners insurance rate as these carry extra liabilities with them.

Notify Your Homeowners Insurance Company of Your Dog or Pool

It is very important that you are honest with your homeowners insurance company or agent if you have a pool or dog. If you have a claim that results from one of these items that was not disclosed to your company or agent, the claim could be denied. Not only will have to pay any financial obligations caused by the claim yourself, but your insurance company could subsequently drop you for omitting such material information.

If you purchase a dog or pool after you already have homeowners insurance, make sure you notify your company or agent of this new addition. Again, a claim resulting from one of these items is likely to be denied if you do not.

If your homeowners insurance company states that your rates will be increasing dramatically due to your new purchase, it's probably a good time to shop around for new coverage. Homeowners insurance rates can vary by hundreds of dollars between carriers, and extra charges for dogs and pools can also differ dramatically from company to company.

Dogs and Your Homeowners Insurance Rates

According to the Centers for Disease Control and Prevention, there are approximately 4.7 million dog bites per year, costing the insurance industry hundreds of millions of dollars. Homeowners and renters insurance policies typically cover dog bite liability, as long as your dog is disclosed to your insurance company.

Insurers may charge more or even deny your application if you own specific types of dogs. These are determined by the frequency of dog bites for the breed, whether they are large dogs that can inflict a lot of damage, and the breed's general reputation.

Some of the breeds that raise red flags for insurers are Pit Bulls, Rottweilers, German Shepherds, Siberian Huskies, Malamutes, Doberman Pinschers, Chow Chows, Great Danes, Saint Bernards, and Wolf Hybrids.

Swimming Pools and Your Homeowners Insurance Rate

Every year, approximately 43,000 people are injured in and around swimming pools, and nearly 300 people drown in backyard pools. These statistics equate to a greater liability for insurance companies if you own a pool. However, most companies will still cover you if you own a pool (as long as this fact is disclosed), and many will not even raise your rates. On the other hand, you the homeowner might want to consider increasing the liability coverage on your homeowners insurance policy above the standard $100,000 if you own a pool.

Many homeowners insurance companies will reward you by not raising your rates if you have safety features such as a locking gate around your pool. Others may not want to insure your home if your pool has features such as diving board or slide. Again, make sure to shop around, as these factors vary widely from insurance company to insurance company.

Using InsWeb.com's online homeowners questionnaire, you can compare homeowners insurance quotes from leading companies in minutes.