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Pet Insurance Options
for Your Beloved Pets
Pet insurance is a great way to assist you in paying your veterinary costs if your pet is ill or is injured in an accident. Some policies also pay out if the pet dies, or is lost or stolen.
The purpose of pet insurance is to mitigate the risk of incurring significant expense to treat ill or injured pets. As veterinary medicine is increasingly employing expensive medical techniques and drugs, and owners have higher expectations for their pets' health care and standard of living than previously, the market for pet coverage has increased.
United Kingdom Pet Policies
vs. United States Pet Policy Coverage
UK Policies usually pay 100% of vets fees. Policies in the USA usually offer to pay 80-90% of the costs minus a deductible depending on the company and the specific policy. The owner will usually pay the amount due to the Vet, and then send in the claim form and receive reimbursement, which some companies and policies limit according to their own schedule of necessary and usual charges. In the event of a very high bill, some veterinarians will allow the owner to put off payment until the insurance claim is processed. Some insurers pay veterinarians directly on behalf of customers.
Preventative Care
Traditionally, most pet insurance plans did not pay for preventative care (such as vaccinations) or elective procedures (such as neutering), or such coverage for such coverage. Recently however, some companies in the UK and US are offering routine care coverage.
Pre-existing Conditions
In addition, companies often limit coverage for pre-existing medical conditions, thus giving owners an incentive to insure even very young animals who are not expected to incur high veterinary costs while they are still healthy.
Special Provisions
Some insurers offer options not directly related to pet health, including covering boarding costs for animals whose owners are hospitalized, or costs (such as rewards or posters) associated with retrieving lost animals. Some policies also include travel cancellation coverage if owners must remain with pets who need urgent treatment or are dying.
In addition to veterinary costs, some pet policies offer coverage for expenses such as prescription food and micro-chipping. Coverage may extend to expenses related to the care of your pet during illnesses you suffer, such as boarding fees during your hospitalization.
Third Party Liability
Third Party Liability pet insurance has little to do with veterinary costs, but it is starting to become more widely available. This covers costs associated with accidents or injuries caused by your pet, and exclusions do apply. In some cases, the insurer will pay to rectify the damage for which the owner is responsible under the Animals Act of 1971.
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