Pet insurance is a form of property insurance. It is necessary to insure pets due to the discovery of new vet drugs, diagnostic strategies and medical procedures that are costly. The insurance pays the vet cost if one’s pet falls ill or is hurt in an accident. Some policy givers also include coverage for death of the pet or its theft. The key point of pet insurance is to lower the risk of taking on a gigantic cost when dealing with pets. Pet insurance reimburses the owner after the pet has received hospital treatment and the owner submits a claim to the insurance company. But pet insurance doesn't cover routine visits to the vet or those events that are anticipatable like routine vaccinations, checkups and spaying.

There are two categories of pet insurance policies; non-lifetime policy and lifetime policy. Non-lifetime policy covers its customers for most conditions suffered by their pets in the course of a policy year. On renewal in a following year, the condition already claimed for will be excluded in the policy. If that condition recurs or continues, the pet owner will cover the expenses personally. A lifetime policy covers a pet for ongoing conditions across the pet’s life. This indicates that if in a certain policy year a certain condition is claimed for, it will not be excluded in the following years of the pet’s life. Lifetime policies have certain limitations dependent on the policy givers. While some have limits per condition, others have limits per condition per policy year and others, limits a year.

Most firms do not cover pre-existing conditions. In a bid to forestall fraud, corporations stipulate a short time after the policy is acquired when the animal owner cannot claim for illness. This also inhibits coverage of diseases that were incurred before the purchasing of the policy whose symptoms appear after the policy has been bought. Other insurance corporations offer options that are not basically related to the pet’s health such as boarding costs for those pets whose owners have been hospitalised or coverage of costs due in creating posters when retrieving a lost animal. Third party culpability insurance has been offered by some companies. This comprises coverage of accident damages caused by pets like damage of a vehicle in an accident caused by a dog, in this example, the owner of the dog who had purchased the policy can claim.

Some of the conditions covered include skin allergies and infections, ear contagions, tooth extraction, pancreatitis, gut upsets, arthritis, skin cancers, growths, erosions, muscle sprains, fractures, bruises or contusions, cuts and bite wounds, ripped ligaments, deteriorative disc disease and many other conditions.

It is of utmost importance for the interested purchaser to check details before buying a policy. He or she should think about the level of deductible or co-insurance of a specified policy. They should also consider whether a policy covers inborn illnesses or not, how the reimbursement is worked out, the limits relating to a certain policy and whether the pet insurance policy is within their budget.

Spalding Scattergood would like to thank the pet care specialists at United Pet Care for their advice on pet health care that was used in writing this article.