There are several reasons to get an animal life insurance policy for your pet. It can protect you from out-of-pocket expenses for common veterinary costs, but it also covers perils that other policies do not cover. For example, it does not cover tooth cleanings, but you’ll likely spend thousands of dollars on your pet’s annual checkups. It also increases in cost as your pet gets older.
Protects you from out-of-pocket costs of common veterinary expenses
Depending on your insurance plan, a cat procedure may cost as much as $1,200, and an insurer’s benefit schedule allows you to pay a discounted rate upfront. The insurer then bills your insurance company for the rest. If you opt for a low deductible plan, you can pay as little as $995 for a cat procedure, and the insurer will cover the rest.
Protects against perils that other policies don’t cover
Open perils insurance covers your home or personal property against certain losses from various risks. What is a peril? It is a risk category that is not explicitly excluded from your insurance policy. For example, it will pay out if your property is stolen, while named perils policies cover a list of 16 potential problems. Open perils are the more comprehensive of the two types.
Property insurance is divided into two parts: the building portion covers the structure of your home, while the part of the content covers the things inside. Each part of the policy offers different protections, and you should understand them before buying a policy. You can also choose between named perils coverage and open perils coverage. This is useful for those with valuable antiques or other expensive belongings that aren’t covered under the building part of your property insurance policy.
It is more expensive as your pet gets older.
Before you buy a policy for your pet, it’s crucial to understand how premiums increase as your pet ages. When you purchase an insurance plan for your pet when it is young, you’ll pay much less per month, and when they get older, they may have more health problems and more expensive vet visits. However, their insurance coverage will cost more as they age, and the premiums may even become out of reach.
There are many factors to consider when choosing a policy for your pet. Age is a significant factor in how much you pay for the insurance; the older your animal gets, the more expensive it will be. Insurance premiums are generally lower for cats, but their aging process dramatically raises the cost of veterinary care. Keeping your pet healthy will save you significant money in the long run.
It doesn’t cover teeth cleanings.
When determining which animal life insurance plan to choose, you should consider whether it will cover the costs of teeth cleanings. Many pet insurance plans cover dental care, but this is often a tiny portion of the total cost of treatment. Fortunately, there are a few options to consider. For instance, the PetsBest plan covers dental care for dogs and cats but does not cover routine cleanings. Instead, it only covers certain types of dental treatment, including dental extractions and root canals.
Dental care is vital to pet health, but traditional pet insurance companies do not cover routine dental procedures. Unlike a dental disease, standard pet insurance covers dental extractions only after an accident. Regular dental cleanings can cost anywhere from a few hundred dollars to $1,000, depending on the type of dental work required. Thankfully, there are other options for pet owners, including wellness plans. Sometimes, these plans offer financing options, allowing you to pay a low monthly rate for routine dental care.
It doesn’t cover breeding.
If you breed dogs for a living, consider purchasing animal life insurance to replace the value of your animals in the event of their death. Breeding dogs is a lucrative business, and life insurance can replace the value of even a high-valued dog. For example, a policy covering a dog valued at $10,000 will cost about $700 per year for a female dog and $900 for a male. This can quickly add up to a considerable expense.
While most pet insurance policies don’t cover breeding, some will cover these costs. Unlike regular pet insurance, breeding policies don’t cover dental work, although some policies will pay for it if an accident results in damaged teeth. Other policies may pay for alternative treatments, like acupuncture, if a veterinarian prescribes them. Breeding policies don’t cover pregnancy costs, but many offer an optional breeding option that will pay for certain aspects of breeding.