Learn which pet insurances is best for your pet.
The insurance industry has seen the value of marketing its services to pet loving families. Veterinary pet health insurance was the first type of pet insurance available to the average cat and dog owner. With the growth of that industry, other options are now offered to cat, dogs, rabbit, and bird owners.
Pet Health Insurance
Pet Health Insurance is probably the most well known type of pet insurance. Most companies cover cats and dogs. And some even cover birds, rabbits, lizards and other exotics. With pet health insurance, thecompany covers some or all of the pet's veterinary expenses if the care meets the policy conditions. High monthly premiums and limits on pre-existing conditions can make pet health insurance more expensive than paying for the veterinary costs out of pocket. However, if your pet suffers from a serious health condition or injury that occurs after you obtain the policy, then you and your bank account will be grateful for the insurance.
Pet Life Insurance
Pet life insurance is usually an extension of a pet health insurance plan. Like the health insurance coverage, owners receive reimbursement for end-of-life expenses for their pet. This may include covering the costs euthanasia, burial, or cremation. In some cases, it may even cover bereavement counseling for the loss of your pet. If you want this coverage, do ask if it is included in the health insurance policy you are considering, as not all policies include this option.
Pet Injury Coverage
Pet injury insurance coverage covers injuries to your dog or cat sustained in an auto accident. However, not every car insurance company offers this type of pet insurance. Progressive Auto Insurance was the first in 2007 to include pet injury coverage as part of its standard collision coverage. Insured drivers can collect up to $1,000 if the pet (dog or cat) is injured in a car accident or fire, or gets stolen as part of a car theft. The $1,000 covers any veterinary bills incurred as a result of the auto related injury and "Coverage also extends to a cat or dog owned by a relative who lives with you" states the Progressive website. Progressive's pet coverage may not be available in all states. Ask your agent or representative of any of these auto insurance companies if their policy is available in your state.
If you are searching for auto insurance, you'll have to ask the agent or representative about their policies in regards to pets. This is not a common type of pet insurance. As of 2010, Allstate and Esurance did not provide pet injury coverage with their auto insurance policies.
Which Pet Insurance is Best?
While all of these insurance options may sound like a good idea to many pet owners, do take time to research and compare pet insurance plans to decide which pet insurance is best and before buying. It is still a small percentage of owners who obtain insurance for their cat, dog, or bird. Until, this type of insurance becomes more commonplace, the monthly premiums will remain high to cover all potential veterinary costs of a single pet.