A Beginner's Guide to Pet Insurance

If you love your pet, than purchasing pet insurance should be a must. There is nothing worse than losing a pet because you could not afford to take it to an emergency clinic. Pet owners who find themselves in this position often wish that they had the foresight to purchase pet insurance in the first place.

Pet insurance also benefits individuals who have multiple pets or a pet with a chronic health problem. Like health insurance for humans, many policies offer discounts for additional members enrolled in the plan. Many pet insurance plans also cover the costs of supplies that are used to manage such diseases as diabetes, heart disease and hyperthyroidism. These supplies include such necessary, but often-costly items such as insulin, glucose monitors, medication and pacemakers.

Progressive insurance companies offer lavish plans that can cover everything from hip surgery to homeopathic medicine. However, if you love your pet as much as one would a child, then at the very least, you should spend that few dollars a month to get basic health coverage that covers vaccinations, infections, injury and the treatment of common diseases.

Pet insurance policies operate in the same way as human health insurance. Premiums can cost anywhere from $100 to $1000 annually depending on the size and type of the pet. Deductibles usually range from $40 to$100 per ailment treated. The most common pet claims are for viral infections, abscesses, stomach problems, skin conditions and ear infections. Typically, treatment for a pet with an ear infection costs between $200 and $300. Most pet insurers will reimburse you slightly less than 1/3 of the total bill.

In the case of serious ailments such as cancer, heart disease and life-threatening surgery, the deductible can be as high as 80%. This really pays off if your pet needs a $10,000 operation and your pet insurance company is able to reimburse you $8000.

However, it is important to note that most companies do not insure pets for ailments that are known to be inherited or characteristic of the breed. For instance, sharpeis are not usually insured for a common skin allergy that many of them develop in old age.

Pet insurance companies do not just insure cats and dogs, they also insure birds, ferrets, reptiles, hamsters, horses and bunnies. The average cost of insuring a bunny for one year is $120.

Some pet insurance companies also offer pet mortality insurance for performing and show animals such as horses, dogs and monkeys. A pet can also be insured for its purchase price. For instance if a well-bred dachshund was purchased for $800 than the owner can collect that amount back after the dog's death. Before you can acquire this kind of insurance you need to present appropriate documentation to prove the dog's market value at the time of purchase.

Life insurance is also available for pets. If the pet dies, the owner collects just as he would if the pet were a beloved human relative.

The American Veterinary Medical Association, the American animal Association and the American Humane Association all endorse the concept of pet insurance. Perhaps this is because most plans also cover euthanasia. Pet owners who have pet insurance are spared the double blow of grief mixed with expense if faced with such an unpleasant decision.

 

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