Types of Pet Insurance
Understanding your pet insurance policy is the best way to choosing the right insurer from the many options available. Pet Insurance varies based on the kind of pet involved, the levels of coverage offered and sometimes with location, some insurances vary depending on which country they are available in. With potential pets including everyday dogs and cats, to birds and other exotic animals like snakes, it is difficult to cover all insurances in detail. What this article intends to do therefore, is to cover pet insurance in general, based on the levels of coverage they involve.
The different types of pet insurance include dental, travel, life, theft, liability and health insurance among others.
Dental Insurance - works the same as with human dental insurance. The coverage of the policy includes accidents and illness due to dental issues. If the cause is covered by the policy, you only pay the deductible and the insurance company pays the rest of the expenses. Dental insurance is not included in pet insurance, is usually offered as a bonus pack or an additional plan.
Travel Insurance - covers injuries and illnesses caused by and during travel. It allows you to take your pet with you during travel without the need for quarantine.
Theft Insurance - covers the cost of advertising for your pet, offering a reward and also the financial assistance (if any) to get the animal back home. In the unfortunate event of the pet never being recovered, some insurance providers also offer monetary compensation. With pet theft statistics proving to be more threatening than those for mobile phones and iPods, theft insurance can prove to be very useful and can save you quite a lot of money.
Liability Insurance - protects you financially if your pet harms or injures another person, or damages property or vehicles. For example, dog or snake bites. With pet owners being legally responsible for their pet's actions, third party liability insurance could save you from facing prosecution. The insurance could be a substantial compensation and could save you a lot of money.
Health Insurance - is easily the most popular pet insurance available. Pet insurance policies covering the well-being of your pet also vary based on what diseases, ailments or injuries are covered, and the length of time for which the insurance applies.
- Life-time Cover includes a continuous insurance policy covering all diseases, ailments and injuries. It pays out the maximum amount available each year and covers short and long-term treatment. It is most expensive.
- Individual Condition Cover dos not have a time limit over which it can be claimed. It pays out a maximum amount for each condition. Once the maximum amount has been claimed, that specific condition will be excluded from future cover. It is less expensive and suitable for short-term cover, but may run out of cover for long-term illnesses.
- Annual Cover is valid for a period of twelve months from the onset of the condition. Some policies may only cover the condition until the renew date. After 12 months, any condition claimed for in the previous year will be excluded from the cover. The premium could also increase with the pet's age. It is least expensive, but medium and long-term conditions are not covered.
- There are also specific pet health insurances that include annual check-ups only or emergency visits only, or a combination of the two.
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