How Pet Health Impacts On Pet Insurance
Pet insurance is insurance cover that is designed so it can be used frequently. It's not like home or auto insurance and regular claims are common. With other insurance you may pay for years without ever lodging a claim. But it's very likely that you will have multiple claims for your pet for illness or injury during it's lifetime.
Pets are after all just like children in many families, and so coping with all their health issues is often just as expensive and traumatic as it is to cope with the human family members. The ever increasing costs of good veterinary care, especially for anything serious and not just routine exams, can often blindside an unsuspecting pet owner. That is where insurance for your pet comes in.
Premiums for any pet insurance policy can vary widely and cost is based on many factors. Often these are not within your control - for example your location, the kind of pet you may own, and also the overall health and age of your pet. Prices do however also vary based on factors like the amount of coverage required. With most pet insurance plans that we have inspected, the numbers can be tweaked to some extent. For example, you can pay more in premiums and get better coverage or lower premiums for more stripped down insurance cover.
First time pet owners will often want the added security of good pet insurance, and especially so if the pet is still very young, like a puppy for example. Puppies are more vulnerable and therefore more likely to get sick. Having good pet insurance can often assist a new pet owner to get through such a stressful time by having to not also worry about expenses too much.
As your pet gets older, so the premiums, policy co-pays and deductibles also always increase. This is because the risk of illness always increases, just like in humans. Your pet's age does however impact on the cost of your coverage and this varies between different pet insurance providers and pet insurance plans. That's why it is so important to consider these aspects before you choose your coverage.
Traditional insurance for pets shares many similarities with health insurance for humans. The industry and the lingo are the same or very similar. You pay monthly premiums for all your pets, and you have to personally cover the co-payments on your vet visits. Your pet's coverage is also possibly subject to deductibles and the plan could also have have an annual cap on the benefits that your pet may receive. Unlike the plans for humans, which recently have experienced some changes, you could also still be subject to a waiting period before your coverage begins. Pet insurance also typically will not cover any pre-existing pet health conditions.
So pet insurance generally is a good idea for most pet owners but it's always important to read the fine print before you choose a policy for your cat or dog.