Pet insurance helps cover veterinary costs if your pet gets sick or injured. It reimburses you for a percentage of eligible veterinary expenses, depending on your plan. As long as the animal’s condition is covered, the insurer will typically reimburse you for prescription medicine, surgery, diagnostic tests, hospitalization, and emergency care. Pet insurance is typically for cats and dogs, but other pets may require a specialized plan.
What Pet Insurance Covers
Pet insurance policies generally specify a maximum amount of money that they will pay out under each policy section. However, coverage can vary quite a bit among plans.
Core Coverage:
- Veterinary Fees Pet insurance typically covers the costs of diagnosing and treating illnesses or injuries, including consultations, examinations, tests, x-rays, MRI/CT scans, medication, bandages, surgery, and hospitalization. Policies often include specialist vet referrals and complementary treatments like physiotherapy, osteopathy, chiropractic, and hydrotherapy. Alternative therapies like acupuncture, homeopathy, and herbal remedies may also be covered.
- Accidents and Illnesses: Most plans cover both accidents and illnesses. Accident-only plans cover treatment for accident-related injuries, while comprehensive plans cover both accidents and illnesses.
- Hereditary and Congenital Conditions: This coverage includes costs for inherited conditions and birth defects that don’t show symptoms until later in your pet’s life, such as heart disease, intervertebral disk disease (IVDD), eye disorders, and hip dysplasia.
- Chronic Conditions: These are conditions needing care across multiple plan periods, such as diabetes and cancer.
- Third-Party Liability: If your dog injures someone or damages property and you are legally responsible, the policy can cover compensation.
- Lost Pet Coverage: If your pet is lost or stolen or dies from an injury or illness before a specified age, the policy will pay the purchase price or market value. It may also cover advertising costs to find your lost pet and reward costs.
- Boarding/Hospitalization Costs: If you are hospitalized for an unforeseen emergency, the cost of looking after your pet can be covered. This usually requires a hospital stay of a certain number of days (typically four).
- Holiday Cancellation: The cost of canceling your holiday may be covered if your pet needs emergency treatment close to your departure date.
- Overseas Vet Fees: Emergency veterinary treatment costs are covered if you take your pet abroad. Some policies may cover lost pet travel documents or emergency expenses if you’re delayed returning to the UK because your pet is missing or needs emergency vet treatment.
What Pet Insurance Doesn’t Cover
- Pre-Existing Conditions: Most new policies won’t cover the cost of treating any pre-existing medical conditions your pet has.
- Routine/Preventative Care: Routine care, like annual exams, vaccinations, bloodwork, and dental cleanings, usually isn’t covered, though some insurers offer it for an extra cost. Current pet insurance coverage typically does not cover regular pet care expenses.
- Non-Veterinary Costs: Non-veterinary costs like grooming and boarding are generally excluded.
Common Claims
Some of the most common conditions claimed for include:
- Skin problems
- Bone fractures
- Wounds
- Arthritis
- Muscular skeletal issues
Types of Pet Insurance Coverage
There are primarily three forms of pet insurance coverage:
- Lifetime Coverage: Protects your pet from long-term illnesses, providing a specified amount each year for treatment.
- Money-Limit Coverage: Coverage is limited to a specific amount.
- Time-Limited Coverage: Provides protection for a specific time and for a specific ailment or damage.
How Pet Insurance Works
- Quoting: To get a quote, you’ll need to provide details about your pet, such as their name, type (dog or cat), age, breed, and gender, as well as your name and address.
- Waiting Period: After buying a plan, there’s typically a waiting period before coverage begins. Accident coverage may begin after a few days, but illness coverage often has a longer waiting period, such as 14 or 15 days. There might also be longer waiting periods (several months to a year) for orthopedic problems like cruciate ligament issues or hip dysplasia.
- Veterinarian Choice: Most pet insurance plans allow you to bring your pet to any licensed vet.
- Claim Submission: In most cases, you’ll pay the vet bill upfront and submit the receipt to the insurance company for reimbursement. However, some insurers may pay the vet directly.
Costs of Pet Insurance
The premium for pet insurance coverage varies from 3% to 5% of the value assured.
Benefits of Pet Insurance
- Financial Security: Pet insurance helps protect you from unexpected and potentially high veterinary costs.
- Peace of Mind: Knowing you can afford the best care for your pet can reduce stress and worry.
- Access to Care: Pet insurance enables you to seek medical care for your pet without financial constraints.
Also Read : Types Of Home Insurance Policies Explained
Conclusion
Pet insurance provides valuable financial protection and peace of mind, ensuring your beloved companions receive the best possible care. By understanding the coverage options, costs, and benefits, you can make an informed decision that safeguards both your pet’s health and your financial well-being.
Frequently Asked Questions
What does pet insurance typically cover?
Pet insurance generally covers veterinary fees for diagnosing and treating illnesses and injuries, including surgeries, hospitalizations, and medications. Some policies also cover hereditary conditions, chronic conditions, and alternative treatments.
Are pre-existing conditions covered by pet insurance?
No, most pet insurance policies do not cover pre-existing conditions, which are medical conditions your pet has before the policy starts.
Is routine care, like vaccinations, included in pet insurance plans?
Routine care, such as annual check-ups and vaccinations, is typically not included in standard pet insurance plans but may be available as an add-on.
How do I submit a claim for reimbursement?
In most cases, you pay the vet bill upfront and then submit the receipt to the insurance company for reimbursement. Some insurers may also offer direct payment to the vet.
What factors affect the cost of pet insurance?
The cost of pet insurance can vary based on factors such as the pet’s age, breed, and location, as well as the coverage level and deductible you choose.