Home Insurance: What Sends Rates Soaring

By Lewis Braham - 2012-02-02T23:15:56Z

Photograph by Creatas/Getty Images

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Exotic pets

According to the Captive Wild Animal Protection Coalition, there are more than 10,000 big game cats, 8.8 million reptiles and 3,000 apes in private hands in the U.S. Whether you've got a chimp in your garage or have a puzzling fondness for tarantulas, chances are that your insurer will want nothing to do with it. Expect exclusions that don't cover the creature in the house and a separate policy to cover potential liabilities. You may be able to buy a separate exotic-pet insurance policy.