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What You Should Expect From Pet Insurance

What You Should Know Before Buying Pet Insurance

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What You Should Expect From Pet Insurance

Owning a pet can be a very rewarding experience. For most people, their pets are more than just furry companions – they are members of the family.

Like any other family member, pets can be expensive to maintain, especially as they age. Like human beings, older pets are prone to certain diseases, including diabetes and heart disease. Medical procedures and interventions for these services can be quite costly, and pet owners can find themselves racking up thousands of dollars at the veterinarian to keep their pets healthy.

Now there is a solution beyond unnecessary euthanasia – pet health insurance.

The first official pet healthcare policy was sold in Britain in 1947. Britain trails only Sweden in the number of pet owners who provide insurance for their pets. Dogs are the most-insured pet, followed by cats and small exotic animals. While it is sold under the name “healthcare insurance,” pet health insurance is actually under the property insurance umbrella. According to insurance laws, pets are seen as property, so the insurance policy which covers them is similar to that for any other property owned by an individual.

But what should you expect from pet insurance?

  • Affordability. The most important factor in purchasing a health insurance policy for your pet is affordability. Pet owners are more likely to purchase the coverage if it fits within their monthly budget. Policies range from as low as $15 a month to $75 a month or more. As with insurance policies for people, more costly plans tend to offer more bells and whistles when it comes to coverage.
  • Coverage Length. There are two kinds of insurance policies for pets: lifetime and non-lifetime coverage. Lifetime coverage policies are designed to provide coverage for the pet without limitations. Non-lifetime policies must be renewed annually, and with most plans in this category, any health condition for which a claim was filed in the previous year will automatically be placed on the list of non-covered procedures/conditions for the following year. Lifetime policies are designed to continue to provide coverage for any condition for which the pet has received veterinary care.
  • Coverage Type. When pet insurance policies first came onto the scene, most did not cover preventative care for pets, such as annual exams, vaccinations and spaying/neutering. Within the last couple of years, however, pet insurance companies in Canada, the United States and the United Kingdom have begun to include routine preventative healthcare coverage in their plans.
  • Limitations. As with human health insurance plans, many plans for pets exclude pre-existing conditions. Even companies which cover pre-existing conditions generally place exclusions on how much will be covered and how often. It is best to research this if you have a pet that already suffers from a health condition which will require extensive monitoring.

As with health insurance policies for humans, those which cover our furry friends come with a variety of benefits. More expensive plans will cover more services at a higher coverage rate, while the majority of inexpensive plans contain coverage exclusions for select services. Before choosing any policy, do your research: ask for customer recommendations, compare coverage and cost factors, and seek out information from the veterinarian who provides health services to your pet.

New study: Pet insurance market forecast to 2019

This study provides pet insurance market analysis of size, share, trends, value, volume, country coverage, leading players (Allianz Group, Anicom Holdings, Pethealth Inc., Veterinary Pet Insurance (VPI)) market dynamics, competitive landscape and leading ...

Published:  Tue, 19 Sep 2017 01:00:00 GMT



Renters, You May Need Pet Insurance for Your Four-Legged Friend

Having a dog is great. Renting with a dog Not so much. When you find a rental that accepts pets, you will probably have to pay a pet deposit, and if you own a large dog, you might have to introduce your pooch to your prospective landlord to show she's ...

Published:  Mon, 18 Sep 2017 06:37:00 GMT



Arkansas woman admits to spending public money on pug tuxedo, pet insurance and more

A former administrative assistant to an Arkansas county official pleaded guilty Monday to using public money to buy personal items - including a tuxedo for her pet pug. Kristi Goss, 44, was slated for trial this week but pleaded guilty to fraudulent use ...

Published:  Wed, 13 Sep 2017 14:30:00 GMT



I ️ My Pet: Dale Earnhardt Jr.'s Dogs Love Car Rides as Much as He Does

My friends at Nationwide®, the first and largest provider of pet health insurance in the U.S., offer these tips to ensure the safest ride with your furry, four-legged friends. Courtesy Nationwide Based on more than 1.5 million pet insurance claims ...

Published:  Wed, 20 Sep 2017 08:52:00 GMT



Would you remain in a bad relationship to stay with your pet

Well, a recent study from MORE TH>N pet insurance has revealed that one of the number one reasons most people stay in a bad relationships is for the love of their shared pet. We know, we welled up too. Yes, the study found that the number one reason ...

Published:  Wed, 20 Sep 2017 07:26:00 GMT



Pet insurance policy documents are a dog's dinner: read them carefully or risk being underinsured

Owning a pet is an expensive business - or so I'm told (I don't have any myself). Apparently, the cost of looking after a dog can run to upwards of ÂŁ1,000 a year, and cats aren't an awful lot cheaper. If you get a pet, you might well think to ...

Published:  Fri, 15 Sep 2017 23:01:26 GMT



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