Get insured, they said. You will not worry about medical bills, they said! Well, no one has been saying it to pets. Pet insurance can indeed go a long way in ensuring your empty pockets do not deny your furry friend the best medical treatments. Sadly, not many pet owners make use of this facility. These FAQs about pet insurance will help you understand and then decide how best to cover your best friend, the four-legged one.

What is pet insurance?
Pet insurance is an plan designed to pay, in part or in full, for the medical treatments of dogs, cats, birds, horses, and exotic pets. Different plans cover different ranges of illnesses and injuries. There are three primary types of pet insurance: Accident-only policies that cover costs only after accidents; Accident and Illness policies cover accidents as well as vet charges for cancer, infection, inherited diseases, etc. And finally, Comprehensive policies that cover routine visits, behavioral training, vaccinations, etc. The last policy can also include monetary compensation if your pet dies or is lost or stolen.

Are hereditary and congenital conditions covered?
Hereditary conditions are linked to genetics, while congenital conditions are those illnesses that develop in-utero. The tricky thing with such conditions is that they may not appear for years, and when it shows up, treatments are costly. Consider the breed of your pet and speak to a known veterinarian regarding risk factors. Another issue is that not all pet insurances cover these. Looking for a policy that covers both hereditary and congenital conditions will undoubtedly go a long way in taking care of medical costs. Some policies have more wiggle room than others, but insurers may deny congenital or hereditary-based claims.

Which other illnesses and conditions are excluded?
Pet insurances could have several exclusions that are specified in the Product Disclosure Statement. Remember to always read this document before deciding on pet insurance. Common exclusions include pre-existing conditions, i.e., conditions diagnosed before you took the policy; elective treatments like routine checks, dentistry, or de-sexing; waiting periods and vaccinated diseases. Look for a policy with full coverage and minimum exclusions if you are someone who prefers to stay on the safe side. Always check more than once to make sure all the features you believe to be necessary are covered.

How do you renew a policy?
Unless specified otherwise, most policies automatically renew each year. Check with your (insurance) service provider to ensure the insurance policy does not lapse before you get a chance to renew it. Renewal notices are usually sent to remind you of upcoming payments and make you aware of the new changes introduced. Upgrading or discontinuing a policy can also be done around the renewal period. Each insurance service is different, so speak to your service provider and be clear about the details from the start.

How much does pet insurance cost?
All pet parents would like to do anything for their pet, but finances often get in the way. Health care costs are said to be the thorn in the bush when it comes to owning a pet. Naturally, pet insurance policies will cost different amounts on the basis of the coverage you chose. An average monthly pet insurance plan costs about $48 a month for dogs and $30 for cats. Premiums can be as low as $10 or as high as $100. Your pet’s age, genetics, and breed also influence insurance rates. Older, larger animals tend to have more expensive plans as they are more at risk of suffering from major health issues.

Insurance is a good thing to have, keeping in mind the adage, “prevention is better than cure.” But this phrase also indicates that pet owners must work to prevent diseases. Like with humans, you can maintain pet health with regular exercise, healthy food, and lots of love.