Pets are lovable like our child. They do need care as our child need. Pet insurance is mostly needed by pet owners. Pets grow and fall ill then they die. Pet insurance is the best way to give care to our pets.
But finding the right cover for your pet and your pocket isn't easy and one policy doesn't fit all needs. So here's a quick summary of the main features offered by most providers to help you with your shopping around.
The most basic pet insurance policies simply cover vet bills.
Pet Insurance Policy Types-
There are three main types of pet insurance policy. The costs and benefits vary greatly, so the best deal for you will depend on your financial situation plus the breed and health of your pet.
Annual policy: this is the type of insurance people are most familiar with in other fields. There is a limit on the total payout for any condition. In most cases a specific condition is only covered until this payout limit is reached or 12 months has passed since the initial claim, whichever happens first. After this you can't claim for the same condition again.
Per condition policy: This works in the same way as an annual policy, but without the 12 month limit.
Life-long cover: This allows you to make more than one claim for the same condition, and there is no specific limit on the amount you can claim for any individual condition. Instead, the only limit is on the overall amount you can claim in a single year.
With all types, you'll usually only be allowed to take out a policy if your pet is under a certain age. Once you have a policy, most insurers will allow you to renew it every year, even past this age. However, some have a mandatory cut-off age after which even existing customers won't get cover.
But finding the right cover for your pet and your pocket isn't easy and one policy doesn't fit all needs. So here's a quick summary of the main features offered by most providers to help you with your shopping around.
The most basic pet insurance policies simply cover vet bills.
Pet Insurance Policy Types-
There are three main types of pet insurance policy. The costs and benefits vary greatly, so the best deal for you will depend on your financial situation plus the breed and health of your pet.
Annual policy: this is the type of insurance people are most familiar with in other fields. There is a limit on the total payout for any condition. In most cases a specific condition is only covered until this payout limit is reached or 12 months has passed since the initial claim, whichever happens first. After this you can't claim for the same condition again.
Per condition policy: This works in the same way as an annual policy, but without the 12 month limit.
Life-long cover: This allows you to make more than one claim for the same condition, and there is no specific limit on the amount you can claim for any individual condition. Instead, the only limit is on the overall amount you can claim in a single year.
With all types, you'll usually only be allowed to take out a policy if your pet is under a certain age. Once you have a policy, most insurers will allow you to renew it every year, even past this age. However, some have a mandatory cut-off age after which even existing customers won't get cover.
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