Pet Insurance

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. Out of these Dogs and cats are the most popular pets which a person owns. There are more than 60% households of United States are pet owners. Now move on to the term ‘insurance’. In simple words, we may describe Insurance as equitable transfer of the risk of a loss from one entity to another against the premium paid by the insurer. As the name itself says 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. Pet is an important aspect of one’s life, specially the one who doesn’t have his or her family treat this pet as their own family members.

The first policy of Pet Insurance was made in year 1890 by Claes Virgin. According to 2009 survey, Sweden is ranked on top spot for highest level of pet insurance in the world followed by Britain. Pet insurance has gain its popularity from past few years due to the rising cost of health care of animals. You need to be specific and alert while selecting an insurance plan for your pet. It is very important and must for a pet owner to see how closely a plan can be suitable to his unique needs. They should also take care about what other beneficial or bonus plans are offering for your pet, like few of the insurance companies will offer you dental care or even drug plans for your pet. Pet owner can enjoy few of the health benefits, like if you own a dog, then walking a dog can provide you fresh air and exercise. Also when you are buying an insurance policy for your pet, don’t settle up for a cheap pet insurance, just try to buy a good one that will provide you benefit not only today but in future too.

Nowadays, pet insurance is very popular in all over the world except Asian and African countries, as pet adoption is not much familiar these countries. In these countries, most of the clients of Pet Insurance come from the rich sections of society. Insurance companies will offer you the benefits on different plans, and it becomes beneficial for you as you can adopt that plan which you fine suitable for you and your pet. You need to be a little bit careful and smart consumer while buying the insurance policy for your pet as nowadays there are lots of scams are going on in this sector, always read the terms and conditions carefully. Basically, there are two types of Pet insurance.

One of them is Life time insurance which covers a pet for ongoing conditions of the pet’s lifetime. It is claimed for the first year and it will not be excluded in the second of the subsequent years. Life time policies do have the limits.

Next category is of Non- Lifetime policy. As the name itself says it’s a short time policy and hence the buyer purchases this policy for some short time period for their pets. Most of the pet insurance policies did not includes or cover the risk of preventative care like vaccinations.

But, as we all know there is great demand and popularity of pet insurance in UK and US, some of the insurance providers here are offering complete care for the pets, which not includes vaccination but also includes dental care. These kinds of special offers motivates all the pet owner to adopt them, though the pet insurance demand is very less in Asian and African countries, that’s the only reason the premium of pet insurance are higher in these places.

Most people enjoy having pets. Pets have a therapeutic effect on human beings and people soon get attached to their pets. Unfortunately there are many things that can go wrong with pets like accidents, illness, theft and ultimately even death. As it is possible, however unwelcome that any one of these events can occur at the least-expected moment, pet insurance comes to the rescue. Although linked to pets, this form of insurance is more like property insurance.

How Pet Insurance works

A monthly or annual premium is paid which in turn makes it possible for the insurance company to reimburse veterinary fees when a pet is treated for some illness or as a result of an accident.  As in all other types of insurance, conditions apply. For instance, preventive care such as vaccinations is typically not covered. In the same way, elective treatment like neutering is also not covered. Today however, certain pet insurance policies cover these as well.

Types of Pet Insurance

There are two types – lifetime pet insurance and non-lifetime insurance. Lifetime pet insurance needs to be renewed regularly but non-lifetime insurance lasts for the pet’s lifetime.

Pet Insurance Providers

  • Embrace pet insurance
  • Pets best
  • Healthy paws
  • Trupanion
  • Pi pet insurance
  • Pet assure
  • Quick care pet insurance
  • 24 pet watch

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