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If you buy pet insurance, you receive the veterinary costs if your
pet is ill or has an accident. There are also a few policies that
pay out in case your pet dies, is lost or stolen.
The objective of pet insurance is to spare pet owners the difficult
choice between letting the pet die and spending a large amount of
money (if the veterinary bill proves too expensive) to save it.
As most owners consider their beloved pets as part of the family,
veterinary doctors are increasingly using costly medical procedures
and drugs, causing pet guardians to face this emotional dilemma
more frequently than ever before.
Pet insurance plans generally offer to pay 80-90% of the costs
minus a $50-100 deductible that depends on the insurance company.
The owner is usually required to pay the amount due to the veterinary
doctor, and later send in the claim form and get the reimbursement.
If the bill turns out to be very high, the veterinary doctor will
usually allow the owner to work out a contingency plan and pay him
or her after the claim is processed.
Pet insurance companies usually do not pay for preventative veterinary
care like vaccinations or elective veterinary care like neutering
as these costs are known and can be budgeted for in advance. In
recent times some British and American insurers have started offering
routine care coverage as well to help reimburse for all costs involving
There are some insurance companies that cover more than only health
issues. They also cover boarding costs for pets in case the owner
is required to go into the hospital, and money to help with retrieval
of a lost animal, as reward or for posters. There are also some
pet insurance plans in which the owner gets money if forced to cancel
a holiday due to the pet needing urgent treatment or dying.
In the United Kingdom, there are some insurance plans for dogs
that include third party liability insurance. Under such a plan,
if the dog causes a car accident that damages a vehicle, the insurance
company will pay to rectify the damage. VPI Pet Insurance is the
largest pet insurance company in the United States and it offers
insurance for cats, dogs, birds and many types of exotic animals.
One can purchase pet insurance in all developed counties and the
precise details of the insurance cover will be different for different
Unlike other types of insurance like home or auto or home, the
choices for pet health insurance companies are still limited to
a large extent. There are still only a handful of large and still
growing pet health insurance companies that have set the stage for
other pet health insurance companies. These companies now come up
with attractive pet insurance packages that work much like "human"
health insurance, offering plans covering accidents and illnesses.
While choosing a pet insurance company for your dear pet, you should
make inquiries about policy options such as benefit limits, deductibles,
and, most importantly, what is covered.