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What You Should Expect From Pet Insurance

What You Should Know Before Buying Pet Insurance

Why Has Pet Insurance Become So Popular?

Why Pet Insurance Is Easier Than You Think

Why Veterinarians Appreciate 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.

Healthy Paws Pet Insurance Releases Cost Of Pet Health Care Report For 2017

SEATTLE: Healthy Paws Pet Insurance-the #1 customer-rated provider of insurance for dogs and cats-today released the second annual Cost of Pet Health Care report, revealing how much pet parents are truly spending at the vet's office. The report employs ...

Published:  Thu, 23 Nov 2017 11:42:00 GMT



UK Pet Insurance is rising in emerging claims costs

Pune, India, 9th October 2017: WiseGuyReports announced addition of new report, titled "UK Pet Insurance: Market Dynamics and Opportunities 2017" The report covers comprehensive insight of UK Pet Insurance Market including major market drivers ...

Published:  Tue, 21 Nov 2017 00:43:00 GMT



Do you need health insurance for your pet

When my golden retriever, Lily, was 6 months old, she broke her leg in a bicycle accident. Literally, it snapped in half, and the only ones who could repair it were the professionals at the University of Illinois Veterinary Teaching Hospital in Urbana.

Published:  Wed, 15 Nov 2017 07:17:00 GMT



Veterinarians See The Value Of Medical Insurance Firsthand With Their Own Pets

As medical insurance for pets continues to rise in popularity among pet owners, veterinarians and their staff are also seeing the value in the treatment and care of their own pets' maladies. After all, the most common conditions among pets affect ...

Published:  Tue, 21 Nov 2017 10:10:00 GMT



New, Customized Pet Protection For Customers With Liberty Mutual Insurance

Pets are often seen as part of the family; in fact, pet owners view themselves as more than just "owners" - the majority (82 percent) of pet insurance customers consider themselves "pet parents." 1 Pet insurance is growing in popularity as consumers try ...

Published:  Wed, 15 Nov 2017 14:57:00 GMT



UK pet insurance breaks the billion pound barrier

Aquarium warns the sector risks hard-won gains if premiums are raised ten per cent this year, and argues that technology is delivering savings when consumer confidence remains so fragile. With inflation at 2.9 per cent; interest rates already raised a ...

Published:  Mon, 20 Nov 2017 12:45:00 GMT



UK Pet Insurance-Market Dynamics and Opportunities 2017

The pet insurance market continued on an upward trend with regards to market size in 2016. Strong growth in GWP was seen yet again, but the market remains blighted by significant increases in the number of reported claims, which grew to record levels.

Published:  Mon, 20 Nov 2017 00:22:00 GMT



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