Pet insurance is insurance that caters to pets and their veterinary expenses. Not only, does, it caters to pet care annual exams, dental cleaning, and vaccines, blood work, but also other veterinary costs.
Unquestionably, pet insurance is a facility that enables us to care for our pets without financial burden when ill or injured.
Pet insurance policies cover different types of conditions and vary in the amounts that will be covered and paidout.
What is Pet Insurance?
Pet owners have to keep their dogs or cats or other pets healthy. We plan for their food, bedding, and also medical expenses. Veterinary costs can be expensive and it is better to have pet insurance which helps lessen the overall cost.
One might wonder what pet insurance is. Pet insurance is an insurance policy bought by a pet owner which helps to lessen the overall costs of expensive veterinary bills.
Importantly, a pet owner can decide to take the insurance to cover the medical costs partly or wholly.
It works the same way as human insurance policies. Notably, the cost is an out-of-pocket expense before the coverage begins, usually a deductible.
Benefits of Pet Insurance
- Gives peace of mind as one can afford veterinary costs.
- Reimbursed if the pet gets lost or dies if it was included in the policy.
- Third-party liability cover.
- If you have a pet travel scheme and your pet needs emergency treatment abroad.
- Save on additional treatment costs.
Who Needs Pet Insurance
For dog lovers, it is always a joy to bring another furry friend into our homes. However, the prospect of high medical expenses can be a deterrent to adopting a pet.
Pet insurance can be very helpful when a dog/pet is severely sick and the medical expenses are hitting the roof.
Imagine a situation where one has no pet insurance and your pet needs expensive vet care. We all love our pets and letting go when sick is hard considering the pet has been with the family for many years. This pet already has become a part of the family.
Pets can suffer from various diseases or conditions that may require surgery. For instance, removal of tumors, joint surgery. Besides, the possibility of expensive procedures and medicines can lead to a decision to put a pet down, known as “economic euthanasia.”
Undoubtedly, pets may have medical emergencies, just like their human owners.
Which Cases Does a Pet Insurance Assist
Does a healthy pet require pet insurance? Yes, he/she does. Even a healthy pet has necessary expenses that a new owner must cover.
To start with if the dog is adopted, the dog needs to be examined by a vet. Also with time, the dog will require to be sprayed or neutered depending on the gender.
Alongside this, the numerous vet visits for checkups need money. Blood work, scans, tests can be required in your dog’s lifetime to check on general health and typical diseases.
Importantly, we cannot forget the vaccinations which the dog has to get in the year and each year after.
This medical care may become expensive if not planned for. Pet insurance will ease this financial strain when you have a pet.
Clearly, without pet insurance, the blood work, medication, emergency visits to name a few costs would end up being even higher to a tune of £550-3000 per year.
What To Consider When Getting Pet Insurance?
Before welcoming a new pet into our homes we prepare for them emotionally, financially, and physically.
Particularly, we plan for their training, we buy toys, treats, tracker, stroller, dry and wet foods, and other miscellaneous expenses depending on the size, breed, and location.
Additionally, we ensure to buy a comfortable bed, crate, feeding bowls, and any other item to make their stay comfortable.
Bringing a pet home can be strenuous and expensive if not well planned for. Without pet insurance, the financial burden may be greatly felt.
Regular vet care can be planned for well in advance, what can cause problems is an unexpected medical emergency.
Without a doubt, if your pet comes down with an illness, you can expect your vet bills to go up substantially.
What Does Pet Insurance Policy Cover
Know what you are purchasing as some pet insurance policies aren’t standardized. A pet policy can cover namely:
- Preventative care
- Death costs
- Routine care
Type of Breed/Pet
Ensure the pet insurance policy that you purchase covers the type of dog breed that you have. Pure breeds may have hereditary health problems than crossbreeds.
Other insurance companies may only cover dogs and cats and no other pets. Nevertheless, ensure the document is clear on that.
Inclusion basically means what the pet insurance covers, be careful on the exclusion. The Policy may list what it does not cover hence if your pet suffers from that you will pay from your pocket.
Exclusions may include hereditary or congenital disorders.
Depending on how the policy has been drawn it may include the following issues listed below. Regardless, the format may be different as it is not standardized for all pet insurance policies.
Typical pet insurance may cover the following:
- Treatment for your pet if it suffers illness, injury or disease.
- The purchase price if your pet dies due to an accidental injury.
- An element of third-party liability covers, usually applicable to dogs only, for injury to third parties or damage to their property.
Some companies may not cover your pet in case of a preexisting medical condition. Before buying pet insurance discuss also this aspect.
However, some companies may still allow pets with pre-existing conditions to enroll even though it is so rare.
Your pet’s medical record is the primary way a pet insurance company determines what conditions are pre-existing.
This is an important aspect when buying pet insurance. Notably, reimbursement for treatment can be denied if the pre-existing conditions were not determined when one purchased the policy.
Besides, some providers may require proof that your pet has had a full medical exam prior to enrolling in their pet insurance. This will help identify pre-existing conditions and assess the overall health of your pet.
The last thing a policyholder wants to do is pay premiums for perhaps years only to discover that something isn’t covered.
The age of your pet may affect the coverage you can get when getting a policy. Make sure you understand what the age limits are on your pet insurance policy at the time you purchase it.
The cost of insuring your pet will go up as they get older. Obviously, older pets are more likely to need veterinary treatment to keep them in shape.
Also considering preexisting conditions can come along during your pet’s lifetime. It would be best to get pet insurance as early as possible before medical problems develop.
Size and Gender
Bigger pets may need larger doses of drugs if they’re sick and can take longer to recover making their cover sometimes more expensive.
Female pets are more laid back hence will not get injured or sickly compared to their male counterparts.
Male pets are more likely to have accidents or get into fights with each other, this will cost you more when taking the insurance.
Finding the right Pet Insurance policy to suit your pet can be both confusing and time-consuming.
We keep pets for various reasons: for protection, companionship, sentimental value, etc. and we want the best for them.
Some pet owners pay out of pocket for their pet’s medical expenses. In the long run, it may be expensive or straining if the finances are not enough.
Despite all this, it is recommended to plan in advance as one can never know when the pet may fall sick or need emergency vet care.
Lastly, you can ask your veterinarian about pet insurance companies to compare and get the best for your dog/pet.