Pet Insurance Policies
Pet insurance is something that has become really popular in the recent times. You could not have imagined people spending thousands of dollars to insure their pets a few years ago. But things have changed a lot now thanks to the tremendous developments in medical science. You will be surprised to know that treatments that were once reserved strictly for humans – like radiation therapy, kidney transplants and cataract– are now available for pets too.
On an average, a pet owner might spend around $6000 on pet insurance during his pet’s lifetime. However, since you have the option of paying monthly payments instead of a single big payment in one go, it should not burn a hole in your pocket.
There are two major types of pet insurance policies available today – pet healthcare insurance and pet liability insurance.
Pet Healthcare Insurance
Pet healthcare insurance, in general, covers all the costs associated with treating your pets including the routine checkups. There are two types of pet healthcare insurance plans available for your pets.
- The VPI superior insurance plan – This is the most comprehensive insurance plan you can get for your pets. It covers any medical costs associated with your pets – right from routine checkups to prescription medications, X rays, diagnostic medical tests, lab fees, vaccines and immunizations, and surgeries. In short, this insurance plan will repay whatever you spend on your pet during its lifetime. This plan will cost you around $200 and is available for both cats and dogs.
- The VPI standard plan – This insurance plan will cover the basic costs associated with pet care – like routine checkups and veterinary appointments. It does not cover the costs of surgeries and other treatment options that cost a lot. While you might get a partial coverage, you will have to pay a considerable amount of money yourself.
A comprehensive pet healthcare insurance is really important if you own a full breed dog. Full breed dogs usually require a lot of care and they naturally require more trips to the vet. So, you need to make sure that your pet is adequately covered.
Pet Liability Insurance
Pet liability insurance, as the name suggests, covers the liability factor involved in owning pets. Even if you have pet healthcare insurance, getting a good pet liability insurance plan is always a good idea. Especially, if you are a dog owner, this insurance plan is a must for you. Statistics show that more than five million people in the U.S. are bitten by dogs and the liability costs involved with dog bites exceed a whopping one billion dollars each year.
Most importantly, this insurance plan does not cover the liability costs alone. It also covers the medical expenses of people who are around the pet frequently. In other words, if you or any of your friends or relatives suffers a dog bite, all your expenses will be taken care of.
An important thing you should remember about pet insurance is that you should always read the fine print carefully to know what is covered and what is not. This will help you in filing insurance claims correctly.
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