Pet insurance refers to the insurance of your pets. Under Pet insurance, insurance company pays when your pet becomes ill or injured in an accident. Some of pet insurance policies also pay when your pet dies or lost. A pet is an animal which someone keeps for the purpose of enjoyment or companionship. Few of the famous pets which a person uses in his home are Dog, Cat, Fish, Birds, etc Pet insurance is very essential for your pet. All pet owners love their pet and treat their pet as a part of their family. Cat and Dogs are categorized as the most famous pets for which their owners buy the insurance policies. Now move on to the main term ‘Pet Insurance Policies’.
First Pet Insurance policy was made in year 1890 by Claes Virgin. If we are discussing on the topic Pet Insurance policies, then in market nowadays a very cheap special Insurance plans are available due to high level of competition, here you can buy a policy as per you need and requirement, and the cost is also very low, but here you need to be little bit careful while buying a policy for your pet not only go for a cheap policy but do also check whether that policy is really good for your pet or not. As nowadays, Pet Insurance is gaining its popularity in the market, hence all the insurance companies are frequently launching their new plans in the market, you can select from these wide ranges of insurance policies and select as per your requirement and budget. Even nowadays most of the insurance provider companies are offering online insurance where you can see their plans online and compare it; this option not only saves your time, but gives you a wide range of selection. The general procedure of Pet Insurance is that a pet owner submits a claim to the insurance company after the pet received care then the company will reimburses the owner.
In the insurance policies, the Pet insurance plans are divided into two categories:-
These insurance plans cover all the health related issues. Pet health insurance plans includes sickness, injury, or medical check ups for your pet. These policies also covers annuals check ups and emergency treatments of your pet. There are wide range of insurance plans comes under this category which varies according to your need and budget.
We knows that a Pet is one of our good companions, but we do have to accept that a pet can also harm someone. This category covers all that expenses which occurs when your pet injured someone and make same kind of loss. A pet liability insurance policy provides financial support against all that damages which incurred due to your pet’s violent nature.
Veterinary Pet Insurance is the most famous pet insurance provider. They offer policies for wide range of expenses like surgeries, prescriptions and office visits. Apart from pet insurance on Dogs and Cats, they also offer few good policies on Birds. These Bird policies cover self mutilation and feather picking. VPI Superior is the most common and famous plan of VPI. This plan covers up the expenses on Accidents, illness, doctor prescription, X-rays, surgeries and Hospitalization.
Apart from the superior plan, they also offer expensive plans, but that are not much popular and limited to rich people only. These expensive plans cover everything which includes vaccination and dental check up too. Another reason that makes VPI the most popular insurance provider, is that there are not much companies in the market that offers Pet insurance for your animals, many of the insurance providers believes that these kind of insurance is very risky hence they have not launched any plans on Pet Insurance. Pet care and Pet assure are among few other options which you can select for the insurance of your pet, they are also good competitors of VPI.
So, after discussing the different plans of Pet Insurance and VPI, in the last I just want to discuss how much amount a policy pays. In UK, all the 100% expenses are paid by the insurance provider though In US and Canada the insurance companies pays 80-90% of the total cost depends upon your plan. Pet insurance policies are divided in two parts one is for lifetime and another one is non lifetime. Lifetime Insurance policy covers a pet for ongoing conditions of the pet’s lifetime. And a Non Lifetime Insurance policy which it’s a short time policy purchased by a pet owner for a specific or limited time. It’s on pet owner whether he renews or not after completion of that particular coverage period.