With over 60 pet insurance policies available these days, you must be asking, what does pet insurance cover, what is the best policy available and does my pet really need insurance?
The average cat or dog will cost their owner between $100 - $300 per year at the vet, this includes routine health checks and vaccinations. Preventative medication (flea & worming) and food adds another $500 to the yearly total which means owners are spending on average $800 per year on their pet.
Most Pet Insurance Policies will cover incidents such as accidents, sudden illness, prescriptions, animal hospital stays, surgery, lab fees, x-rays and cancer treatment. Some policies will even cover annual health exams, vaccinations and desexing. Illnesses such as skin conditions (allergies), eye/ear problems, urinary tract infections and arthritis are all conditions that are likely to re-cur throughout your pets life. Pet insurance policies will not cover pre-existing conditions – that is a condition present prior to the date the insurance policy is deemed effective (after any waiting period specified), whether it was diagnosed or not. The older the animal is the more likely it is to have a pre-existing conditions therefore a lot of insurance policies have an age limit on signing up for illness cover. There is however, no upper age limit for accident insurance, but claims may still be affected by the presence of a pre-existing condition.
The best time to take out an insurance policy is when your pet is purchased.