Types of Pet Insurance in US

Whether you own a dog, cat, parrot or any other animal, you invariably have to take them to a veterinarian, on a regular basis. While, there are a variety of pet insurance policies, it is wise to choose the type of insurance which is right for you and your pet companion. There are mainly three types of pet insurance available.

Traditional Health Insurance

This is most similar to human health insurance where you choose from a list of plans wherein all the provisions are set. The coverage under traditional plans includes accidents, illnesses as well as preventive care in some cases.

There are three levels of coverage under traditional health insurance:

  • Basic Coverage:
    This is the least expensive coverage and as the name suggests it provides reimbursements for basic procedures which include accidental injuries, poisonings or illnesses. This type of policy has a cap on reimbursements per accident or illness as well as a cap on total reimbursements per policy term.
  • Comprehensive Coverage:
    This is a little more expensive than the basic coverage as it ensures higher reimbursements and provides reimbursements for not only accidental injuries, emergencies and illnesses but also covers office visits, prescriptions and other diagnostic tests. This too has a cap on reimbursements per accident and illness and a cap on total reimbursements for policy term.
  • Pet Well Care Protection:
    This type of plan mainly reimburses for preventive care including physical exams, flea and heartworm prevention and vaccinations.

Discount Plans

These plans offer a set percentage discount for veterinary services and some supplies from listed vets only.

Customizable Pet Health Insurance

Similar to traditional pet insurance the only differentiating factor being that here you are allowed to choose the level of coverage and in some cases you can choose what is actually included under the plan.

Accident Only Plans

These cover only accidents and don’t provide coverage for illnesses or preventive treatment.

Besides regular health insurance there are other types of insurance protection available for pets too.

Life and Theft Insurance

This coverage is mainly designed to insure the lives of valuable / exotic animals and reimburses the owners in case the pet is stolen or in case of death or any other covered event. This type of insurance is usually purchased by zoos or owners of prize winning animals.

Homeowners and Renters Insurance

This type of insurance also provides coverage for pet owners in terms of:

  • Liability Protection
    In case your dog bites someone and you get sued for it, this insurance provides protection to you in court.
  • Personal Property
    This covers the loss or damage of various accessories that you have bought for your pet due to an unforeseen event like theft, fire or any other listed disaster.

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