Insuring The Well-Being Of Your Furry Friend
For some people Pet Insurance is as important as personal insurance for your pets as they are an important part of a family. When our beloved four legged friends suffer from illness, it can not only be a tough time to deal with, the whole affair can be quite an expensive one too. The cost of frequent visits to the vets is always on the rise and as pet owners it is your responsibility to ensure that our pets remain in their best of health all the time. Therefore, securing pet insurance is your best option to ensure that you are able to meet the costs of their health requirements and can take care of the expenses of any unexpected illness of your dog, cat, rabbit or horse etc suffers from.
There are two main types of Pet Insurance policies available in the market – an annual policy and a lifetime policy.
An Annual Policy makes your pet is covered for specific types of an illness for a year, after which the insurance will expire and need to be renewed again. This type of policy is comparatively less costly, however it will not cover if your pet needs treatment for a longer period. Also, the annual policy does not cover for any pre existing illnesses your furry friend might be suffering from. The lifetime policy is comparatively a better option for some although it is more expensive. You can treat your pet for illnesses of longer durations without worrying about the cover. This type of Pet Insurance may cover for illnesses such as asthma and arthritis and will relieve you from the perennial worry of renewing your insurance policy every year.
What does most Standard Pet Insurance cover?
Standard policies have stipulated features which cover numerous important aspects of your pet’s healthcare such as vet’s fee and boarding fees. If your pet goes missing, your Pet Insurance may also cover you for the advertisements you place or sometimes even a reward, if you would like to offer. They may also cover the cost of any legal fees you incur in case you dog causes accidents. The Pet Insurances these days are more customized to suit the needs of your pet, keeping in mind their size, maintenance cost and span of life.
What are the various facilities available with the Pet Insurance Policies?
Every Pet Insurance policy may include cover for the following aspects however you need to make sure that you read the terms and conditions of your policy:
The Veterinary fees
Pet Insurance policies may cover your pet’s visit to the vet for the diagnosis and treatment of illnesses as well as for treatment after accidents. The policies generally provide a cover for the cost of the vet’s consultation, any examinations, scans, tests or x-rays to be done to determine the illness or injuries. Cost of medicine, bandages, hospitalization and surgery is also taken care of. Some insurers cover the costs of alternative treatment such as physiotherapy, acupuncture, chiropractic, hydrotherapy and osteopathy. If you wish to treat your pet with homeopathy or herbal medicines, your insurer can bear the cost of these treatments as well. In case you need to travel abroad for your pet’s treatment, such expenses are covered if you avail the Pet Travel Scheme.
If you are required to go to the vet for emergency medical conditions, your insurer will take care of the cost of looking after your pet.
The Third Party Liability
Pet Insurance policies can take care of the cost incurred in the event of your pet injuring someone or damaging some else’s property.
If the pet is lost
In some instances your insurance provider can reimburse the purchase cost of your pet if it is lost, stolen or dies before a stipulated age. It lets you place advertisements and even offer a reward incase your pet goes missing.
Incase your pet needs emergency treatment or surgery just before you embark upon your holiday, the Pet Insurance companies can sometimes reimburse the cost of your holiday.
Some of the general exclusions in the Pet Insurance policies are mentioned below:
- Pre-existing illnesses of your pet – If you pet had an illness or a condition before you took out the policy, it will not cover for the future expenses incurred.
- Waiting period – A waiting period of 10 days to 30 days is often not covered by insurers until the first signs of illnesses are noticed.
- Pregnancy – Your pet’s pregnancy and treatment of the new born puppies and kittens is not covered by the Pet Insurance companies.
- Routine checkups – Costs for routine checkups, vaccinations, grooming, worm and tick maintenance, castration and teeth maintenance of your pet has to be taken care by yourself.
- Purchase price in case of your old pet’s death – Pet Insurance companies will not reimburse the purchase price if your pet has reached a certain age, generally 9 years, and dies of an illness.
Things to remember before you take out a Pet Insurance Policy:
- The cost of insurance generally depends on the level of cover you chose, your location, the breed of your pet, it’s age and whether it is a male or a female pet.
- Since vets charge a higher cost for treatments in urban areas than in rural areas, this factor also contributes to the premium of your cover.
- Pedigree pets accrue a higher insurance cost as compared to crossbreeds because crossbreeds are less likely to suffer from inherited medical conditions.
- Ensure that you make clear and honest declarations before you take out a Pet Insurance as this could later lead to your insurer not accepting to pay your claims.
With the knowledge of above key aspects, you are now ready to make an informed choice and be rest assured to find a policy which will keep you away from the constant worry of keeping your pet in the best of health.