When you compare pet insurance, you find it is similar to a person’s medical insurance. It pays for the costs of veterinary care if the pet becomes sick or injured. Depending on the policy, the insurance may also pay for instances when the pet is lost or stolen, or dies. The purpose of insurance coverage for your pet is to lower the costs of veterinary care.
For optimum health and wellness of your animal, make sure they visit a veterinarian at least once a year. For many pets, more frequent veterinarian visits may be required. Your veterinarian is the best source of information for your pet’s health, so it is important to follow his or her recommendations to ensure a great start for a long, healthy life. The sooner your pet sees the veterinarian, the better.
Whether or not you choose to purchase insurance for your pet depends on how much you would pay to keep your pet healthy and whether your pet is at a high risk of developing a serious illness or incurring an injury. Some pet owners that do have insurance end up paying more over time than those who are non-insured, so determining risk would be a huge factor. Cost is also a factor for many pet owners, so do your homework and compare insurance companies before making a commitment. If your pet has had a serious illness in the past, or lives primarily outdoors, then the risk of another illness or injury would be increased. One thing to note is that there are no insurance policies that cover dog bites. These are covered under the pet owner’s home insurance.
Compare pet insurance coverage options by company and plan. Almost all companies cover cats and dogs only. There is only one – Veterinary Pet Insurance (VPI) – that insures exotic animals such as ferrets, snakes, and turtles. Horses are considered a very high risk and are only covered by equine insurance companies. Some companies do not insure pets older than ten years of age. Level of coverage is determined by the type of policy you buy. To cut costs, you can purchase just specific plans, such as illness coverage or accident coverage. There are also all-inclusive insurance plans that cover emergency treatment, preventive care, and annual treatments.
There are approximately ten companies in the United States and five in Canada that insure pets. Comparison is critical when understanding the main differences between these companies and the types of plans they offer, what they cover, the amount of the deductible and the limits. These factors will determine the cost of the premium. Some insurance companies also offer wellness plans that cover preventive care, such as X-ray, lab fees, and vaccinations.