Five Things You Should Know About Insurance for Your Pet
Most people throughout Australia have several different types of insurance for themselves and their family. From auto and health insurance to life and home insurance, there are a variety of different types of insurance that can help protect you from the unpredictable.
What many people may not be aware of, however, is that you can also purchase insurance for your pet. To give you a better idea of what this is and the type of cover it can provide, here are a few things that you should know about insurance for your pet.
There Are Several Different Types
As with any other type of insurance, there are several different types of cover when it comes to pet insurance. Some of the more commonly offered plans include cover for:
- Accidental Injury
- Major Medical
- Routine Care
Most companies that offer insurance for your pet will also give you the option to combine different types of cover depending on your perceived needs. Flexibility is important when it comes to this type of insurance, so be sure that you are seeking out a company that enables you to make a customised decision.
Most Plans Cover Boarding Fees in Emergency Care Situations
If you or a family member is ever in a situation where an extended hospital stay is necessary, most plans will cover a majority of the boarding fees during your stay there. If you are in a situation where you have no one to take care of your pet while you are in the hospital, this can be a way to take away the potential financial and emotional stress of ensuring that your pet is taken care of.
Some Plans Can Cover as Much as 80% of Your Vet Bill
While you will be hard pressed to find an insurance company that will completely cover any type of vet bill for your pet, there are a select few companies out there who cover as much as 80% of it. With the rates that veterinarians charge rising every year, this can be a significant chunk of change that can save you plenty of financial related stress.
Rates Generally Depend on Age
For the same reason that health insurance is more expensive for seniors than it is for young adults, insurance for your pet is more expensive for older pets than it is for young ones. This not only means that the initial rate will be higher for an older pet, but you can also expect it to rise each year as they age.
Breed Also Matters
In addition to age mattering when it comes to your insurance rates, the breed of your pet will also come into play. Many large dog breeds, for example, have a history of encountering medical issues early in their lives. For this reason, a higher rate will be required than if your pet is a smaller breed, like a mongrel, that does not have the higher risk for early medical issues.