Pet Insurance: Understanding Policies & Coverage Options

There are a number of choices and terms for cat/dog insurance pet policies to be aware of before you select your insurance carrier.

Policy Choices

Insurance plans for pets come in all different types. These range from the simplest coverage to complex coverage. Some are specific to certain type of breed, and others carry additional premiums for specific breed and/or pedigree. Here are the broad policy choices:

• Basic or Standard – This type of cat/dog insurance pet policy covers the cost and procedures for all basic dog and cat care, although you must pay a higher portion of the treatment before you can make a claim. This may offer savings of close to $100 per year over the more inclusive plans.
• Premium or Superior – Offers more extensive coverage, including annual check-ups or vet visits, lab tests, X-rays, diagnostic tests and medication. Premiums generally average about $200 per year, although they can be higher for specialized, exotic or rare breeds.
  

• Accident/Emergency
• Life Insurance
• Boarding Kennel and Cattery Fees
• Theft and Straying
• Trip Cancellation
  

Policy Terms

Terms of the policy vary, but most premiums are for one year. Many are payable in advance, while others offer payment plans. There is coverage that is basic, as well as premium – with appropriately different fee levels. Date of commencement, period of insurance coverage, terms and conditions, specific coverage inclusions and limitations, and other terms are included in cat/dog insurance pet policies. Certain exclusions apply, which may include pre-existing conditions.