Pet Insurance

Pet insurance

If you have a dog, a cat or a parrot, or cockatoo, the day will inevitably come when you will have to take it to the vet and possibly regularly. Pet health insurance policies are similar to those for people. These cost a certain annual amount in premiums, have deductibles, co-payments, and maximum coverage amounts. The cost of the coverage is based on the age of the animal, its health, and the level of care that its owner chooses.

Generally, the larger the animal, the more expensive the annual premiums are. There are also exclusions for pre-existing conditions and some insurers may deny coverage to certain breeds of dogs such as German Shepherds that are prone to certain hereditary conditions such as hip dysplasia, a hereditary, congenital, and degenerative condition of the hip joint.

There are veterinary insurance policies for many types of animals such as dogs, cats, exotic birds, rabbits, reptiles such as iguanas, guinea pigs, and various types of rodents.

Most insurers start coverage from 6 to 8 weeks of the life of the animal. Some companies have age limits, others don’t. And when there is more than one pet, they can receive a discount once the first animal is already insured.

There are three types of pet health care coverage:

1. Traditional health insurance

The plans are a lot like personal health insurance policies. The companies that offer them are licensed and registered with the state where they provide services and are regulated and must abide by the rules and regulations of that state. They usually offer three levels of coverage:

Basic coverage. _ It is usually the cheapest and provides low compensation for certain procedures. They usually pay for accidental injuries, poisoning, and illnesses (including cancer). A typical policy includes a maximum reimbursement amount for each policy period (for example, each year). The annual premium for insurance on a healthy three-year-old mixed breed dog can cost around $140. Deductibles for this coverage can range from $75 to $100 per year.

Extended coverage ( Comprehensive coverage ). It is a little more expensive but the compensation is more generous. Provides reimbursement for accidental injuries, emergency or sick visits, vet visits, medications, diagnostic tests such as X-rays and labs. This type of plan also includes a maximum amount of reimbursement per accident and illness and a total amount of reimbursements under each policy period (for example, each year). The annual premium for insurance on the same healthy three-year-old mixed-breed dog can cost around $250. Deductibles for this coverage can range from $75 to $100 per year.

Preventive pet health care ( Pet Well Care Protection ). These types of plans reimburse the costs of preventive health services such as physical exams, treatments against parasites and fleas, as well as vaccinations. The annual premium for the insurance can cost around $144. Although there are usually no deductible payments in this type of plan, for other medical services a deductible payment does apply, typically around $50

2. HMO
Some veterinary offices offer preventative care packages at discounted prices for vaccinations, preventive dental care (teeth cleanings) as well as spaying or neutering of animals. Some offer general visits and regular check-up packages. These are not insurance policies, therefore they are not subject to the same regulations and requirements that are required of insurance companies.

3. Discount plans
They are packages that offer discounts for veterinary services and some types of supplies. A national program offers 25% discounts on all veterinary services including surgeries and hospitalizations, as well as up to 50% on pet supplies. To obtain the services, you must go to veterinarians and pet stores affiliated with the program.

But in addition to pet health insurance, other types of insurance can protect your favorite animals.

Life and theft insurance
This coverage is designed to Insure the lives of extremely valuable animals, from a zebra to a lizard. It is typically purchased by zoos and owners of champion animals, as well as owners of horses or police dogs. Reimburses the owner for the insured value of the animal if it is stolen and pays a death benefit if the animal dies during transport or in cases of other covered damage.

Coverage under homeowners or renters insurance
Standard homeowners or renters insurance policies provide important coverage for animal owners, including:

Liability protection. Homeowner’s and renter’s insurance policies include liability protection to defend you in court if your animal bites someone and they sue you. However, with dog bites costing the industry an average of $3.5 billion a year, most homeowners insurance excludes animals with a history of biting or aggressive behavior from coverage.

What’s more, certain types of dogs are classified as dangerous breeds. These animals, usually large dogs, are responsible for the majority of serious bite injuries. As a result, neighborhood associations may even restrict certain breeds of dogs. A growing number of communities require owners of these dog breeds to carry liability insurance, in addition to the coverage they carry under their homeowner’s or renter’s insurance.

If your pet falls into this category, you can purchase a separate individual liability policy. These policies may require the owner to install certain requirements on their property such as fences or cages.

Personal Property. Remember that items you purchase for your pets are insured under the personal property portion of your homeowner’s or renter’s insurance. This portion will reimburse you for theft or damage to these items in the event of a fire or other disaster listed on your policy.

By aamritri

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