The global pet market has seen a gradual upward trend for the past couple of years. Whether it is the variety of pet grooming services, number of pet care shops, veterinary hospitals, pet training centers or even the scale of pet shows, all pet retail and service operations have significantly contributed to the industry’s unprecedented growth. With increasing pet ownership, several other industries are looking into tapping this market and insurance is left no far behind.
I am a pet lover and surely want one of my own! And why not, pets are known to have significantly improved their respective owners’ health, lifestyles and social lives. But pets don’t come free nor does their maintenance. Getting a pet on board automatically calls for higher bills and consequently, stress. These bills are not simply restricted to their everyday living expenses such as food, training, grooming, etc but also hefty vet and medical costs.
Whether it is a puppy, kitten, cat or even a hamster, they all, like humans, unexpectedly fall sick or get injured. Like humans, they also need to be consulted and treated by the doctors. In that case, would it be wrong to say, like humans, they also deserve to have a health insurance cover? For the very same reasons you purchase a medical insurance, your pet may also require financial support against vet consultation trips, emergency medical treatments, surgeries and medications.
A pet insurance would normally take care of all such issues and provide you with a complete peace of mind as far as pet’s ill health or soaring vet fees are concerned. However, as a pet owner, you must always check whether your pet’s pre-existing conditions are covered or not. Most of the times, they are not, so be sure to get your pet’s insurance as soon as you can before some certain ailments come into play.
There are several types of covers available in the market for you to pick that suit your budget and pet’s requirements. Many pet owners opt for the comprehensive policies that not just provide cover for the key concern area i.e. the medical bills, but also much more than that. For example, a typical pet owner will purchase a pet insurance policy that will cover most, if not all, of the claims arising from the following scenarios:
1. Third Party Liability: If your pet injures a third party, whether a human or another animal, or damages a property, then you as a pet owner, are liable to provide the injured with compensation. A pet insurance policy would typically offer you protection against any court claims from a third party.
For example, if your dog is walked everyday, not specifically by you, there could be a situation where one fine day your dog injures another pet being walked at the same time or perhaps injures a pedestrian passing by. No matter how trained your pet is, you can never be sure of its actions, especially when you or a familiar face is not around. If you have a pet insurance, you practically have financially nothing to worry about as you are automatically covered for any claims made by the third parties.
2. Death: If a pet dies due to an accident or illness, the insurance company will pay a lump sum amount to the owner. Any cremation costs arising can also be covered depending on the level of cover.
3. Advertising & Rewards: It is distressing indeed to find that your pet has gone missing or is lost. Not knowing where your pet is can be a very stressful period and you will probably want to do everything in your capacity to recover your pet. Pet insurance will ensure that you are covered for any advertising expenses resulting from printing an advert in the newspaper, distributing posters, or other varying means. Equally, you can also be covered for an amount of reward that you can advertise and offer upon the retrieval of your pet.
4. Hospital: Any kennel or pet caring costs, arising whilst you are in a hospital due to an unforeseen circumstance are covered. Whilst you cannot have your pet accompany you, you would also not want to completely abandon your pet at the same time. If you are not in a position to leave your pet with your family or a close friend, you can certainly keep your pet in a kennel till you recover. Rest assured, the insurance company will cover all the costs pertaining to that if you opt for such an extension to the policy.
Having a pet can become an expensive proposition but can also add an element of happiness to your life, which can be sustained over a longer period of time with the help of insurance. Nonetheless, think twice before you get a pet and consider your pet choices carefully.
[Image source: petinsuranceontario.ca ]