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Bastrop Daily Enterprise - Bastrop, LA
  • What Is Pet Insurance?

  • Protecting your pet and your wallet
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  • Consumers take out insurance to transfer the risk of something happening to the insurer. For a fee, the insurer then agrees to pay the cost of certain events, giving the consumer peace of mind. Pet insurance, as the name suggests, is simply another form of consumer insurance, which pet owners take out to protect their animals. Learn more about the importance of pet insurance. The big dilemma. Pet insurance is a relatively simply way to protect your pet’s welfare and your wallet. Veterinarian bills can be extremely expensive, and through no fault of your own, you may find yourself unable to pay for the cost of treating your pet. This could leave you in an unthinkable position. Faced with extremely high vet bills, some pet owners are forced to euthanize their pets, because they simply cannot afford the cost. Pet insurance avoids that dilemma. Popularity. In 2009, fewer than 300,000 of 130 million American pet owners had pet insurance policies, according to CBS News. Compared to other countries, the U.S. is way behind. In Europe, pet insurance is relatively common. Types of coverage. Like all forms of insurance, different insurers offer different levels of coverage. Some may have policies with annual or incident limits. This means, for example, that you may only be able to claim a certain amount of the cost of treatment. Other policies have a deductible, which mean that you normally pay something toward the cost of treatment. A deductible can keep the cost of the insurance down. Factors affecting cost. The insurer will always revise the fee according to the nature and size of risk, and pet insurance is no different. A number of things will influence the cost of insurance. The age and breed of the animal will often determine the cost of coverage. You may not be able to get coverage for older animals. Pre-existing conditions may be excluded from coverage. If you have a pedigree breed, then the cost of insurance is also likely to increase. If you are the sort of pet owner that is prepared to spend a lot of time and money looking after your animals, then pet insurance could save you a lot of money. It could also give you peace of mind and need not cost a fortune. Brought to you by: American Profile - Inspirational Stories & American History
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