Pet insurance is a healthcare policy tailored for pets. It pays for the medical care expenses and, sometimes, other costs. The pet insurance plans are usually reimbursement-based, which means the pet owner has to pay the vet bill upfront and then submit a claim to the insurer for compensation. It all depends upon the particular insurance policy. The details about pet insurance, including costs and benefits, are briefed in this article.

What is covered in the pet insurance?
Pet insurance policies are usually available in three forms, which may be enumerated below:

Accident and illness plans
This is the most common type wherein treatment costs for sickness and injuries are covered. These include broken bones, hereditary conditions, congenital conditions, etc.

Accident-only plans
The treatment cost of accident-related problems such as broken bones is covered in this plan.

Wellness plans
The wellness plans include routine care fees; vaccination expenses are covered as an add-on.

What is not covered in pet insurance?
The usual exclusions in the pet insurance policies are:

1. Breeding cost
2. Price of food and supplements
3. Grooming charges
4. Boarding and Kennel Fees
5. Expenses not associated with the veterinarian care
6. Pre-existing conditions
7. Vaccines
8. Elective and Preventative Procedures
9. Lost and Stolen Pets

Pet insurance cost
The pet insurance cost varies for each plan. The annual premium payment is $300 for a $5,000 yearly coverage plan; for an unlimited coverage, it is $420/annum. The cost of the insurance for a pet is determined based on various factors like the type of animal companion, its breed, age, gender, and the location of the pet’s parent.

Pet insurance benefits
The various pet insurance benefits are detailed below:

Deep focus on the pet’s health
By having insurance for pets, pet owners can focus on the health of their companions and not worry about the costs of the vets and treatments. Individuals will be able to pay for the costly surgery easily, and thus, it offers peace of mind.

Expensive treatments covered
It’s highly stressful and full of worries when your adorable furry friend is hospitalized. Pet insurance will cover all the expenses for even the costliest treatments and life-saving surgeries. So, there is no need to sacrifice your pet’s therapy due to the lack of funds.

Ensures great care for the pet
Pet insurance covers more comprehensive treatment options for parasite-borne diseases, fractures, cataracts, etc. But it depends upon the policy taken by the pet owner. Insurance is also advantageous for pets who need additional healthcare benefits and facilities as they age.

Offers flexibility as per budget
One of the other pet insurance benefits is that it offers flexibility as per the budget. The pet parent may choose from several policies according to their financing abilities and needs. Some insurance policies also offer the benefit of paying the premiums annually, semi-annually, monthly, or quarterly.

Many pet insurance providers offer a range of insurance policies for pets. Thus, choosing the right one depends upon several factors, like, the kind of insurance required, the specific needs, health conditions covered, and last but not least, discounts. This post is for information purposes only; consulting an insurance expert is the best choice to reach a certain decision.