Pet Insurance

Document Sample
Pet Insurance Powered By Docstoc
					                    Pet Insurance

Many people feel that vet's charge too much for their services, but what is often
misunderstood is that medical services - whether they are for our beloved pets or
for ourselves - can be costly. One reason is that procedures often involve
specialist equipment and services which need to be conducted by highly trained
personnel. For example, these days our pets can have MRI scans and long term
treatments for illnesses like cancer, as well as drugs for common ailments like
arthritis. And of course there is no Medicare for pets, and no Pharmaceutical
Benefits Scheme to help with the cost when an accident or illness strikes our four
legged friends. Being realistic, anyone with a pet should expect that at some time
in their life, their pet will have an illness or injury which could leave them with a
bill for vet's fees which could potentially add up to thousands of dollars. So it's
important to consider how you would manage a hefty bill if (or when) your pet
were to be in an accident or get ill. Of course, the best case scenario is where we
have the savings in place for when the unexpected arises, but unfortunately it's
not a perfect world and if you don't have cash set aside, and no pet insurance in
place, you could be faced with a very difficult decision.

               Pet Insurance is like any insurance policy, customers pay a relatively
small premium each month to have another organisation cove the risk of a large
vet bill - so we don't have to fork out our life savings and more if the worst were
to happen. But sometimes people question the value when they don't make a
claim, as they feel the premium they pay is -œa waste of money-•. But just
consider the following hypothetical example which shows how pet insurance
could, in the long run, save money. Sandy pays approximately $40.00 per month
to insure her dog for accident and illness -In the first five years of holding the
policy she doesn't make a single claim. Whilst this is most unlikely, it would mean
she had paid out close on $2,500 over the 5 years to insure her pet. Sounds like a
lot when you see nothing in return. But the next thing Sandy's dog got her leg
caught in a fence which dislocated her hip. She required MRI's XRays and
treatment to get back on her feet again. Under her policy, she was able to claim
back 80% of the vet expenses, which meant that she got back over $3,000 from
her pet insurers. In this case, dog insurance certainly saved money in the long run.
However, whilst there is no guarantee that pet insurance will save you money,
generally speaking if your pet were to develop a costly condition or needs major
care, pet insurance could be beneficial to you. Alternatively you may consider that
your pet is a healthy animal and it would not be worth the investment.
So it really depends on your pet's needs as well as your financial situation. But if
you are thinking of pet insurance make sure you do your research before making
a commitment.


 · Do I understand exactly what the policy covers? · Can I afford the monthly
premium, and required co-payments if necessary? · How much cover does this
policy provide for chronic, hereditary or pre-existing conditions? · Does this policy
cover preventive care, and does that cover justify a higher premium? · Are certain
types of accidents or health problems not covered? · How long do I have to
submit a claim? How long does it take, on average, to be reimbursed? · Is there
any penalty if I cancel my policy? A final word - if you are considering Pet
Insurance, do not delay. Like any insurance policy, most pet insurance policies
exclude pre-existing conditions. This means if your dog or cat gets (for example)
an ear infection prior to cover, then any re-occurrence of the ear infection will not
be covered if you took out your policy after the initial infection. So it really makes
sense to get cover when your pet is young and healthy so that the cover is there
when it's needed! You can research a wide range of pet insurance cover options
online. Generally you can get a quote and apply on line or over the phone. It can
all be done in a matter of minutes.

Shared By:
Description: Many people feel that vet's charge too much for their services, but what is often misunderstood is that medical services - whether they are for our beloved pets or for ourselves - can be costly.