Features of pet insurance
Pets life insurance protects your pet from perils. Most policies cover health and medical expenses. As practice shows, having insurance can compensate up to 90% of the costs of veterinary services.
It should be noted that animal life insurance does not always cover funeral expenses or compensate the value of a pet in case of theft. It would help if you also remembered about the limit on the amount.
Life insurance for animals to cover the cost of a funeral or cremation the cost of the policy must exceed its annual value. Usually, it is 250 or 500 dollars. In order to receive benefits, you must spend the same amount on treatment in the same year that the cat or dog died. This solution is relevant for owners of sick or old pets.
Only one company pays compensation for the cost of an animal if it dies, runs away, or someone steals it. But the following points should be considered:
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the payout amount will not be more than $1,000;
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necessary documents on the purchase of an animal.
Compensation cannot be issued in the case of euthanasia. Also, old animals are not entitled to compensation: cats older than eight years and dogs more aged than ten years.
It must be taken into account that home insurance does not cover the cost of the animal's life. A furry friend is the property of its owner. That is, the owner is responsible for his well-being. Even if the animal dies in an unusual situation, no compensation will be paid.
An expert on life insurance for pets notes that compensation will be available in case of bodily injury. However, you should not expect payments from insurance companies in the event of the death of an animal.
Why do you need pet life insurance anyway?
Insurance policies are most often drawn up for animals that have value. Undoubtedly, a cat or a dog is essential to its owner. But paying insurance for a dog without a breed does not make economic sense. Animals participating in exhibitions or competitions are not always insured. Dog life insurance is necessary if its reputation brings stable income to the owner.
Animals that bring money to the family not always insured. The policy drawn up for animals, which are pretty expensive—for example, a French bulldog. Depending on the characteristics of the puppy and its pedigree, it can cost from 3,000 to 10,000 dollars.
To determine whether can you put life insurance on a dog, you should decide how rare it is. It is possible to issue a policy not only for exhibition animals. Insurance can be issued for any furry friend.
The animal often becomes a full-fledged family member, and the owner wants to provide it with a decent life. The grief of losing a cat or dog can be pretty intense. A dignified funeral will help show love and care.
Funeral expenses can be pretty high. For cremation, you need to pay for the appropriate service, plus buy a unique urn. In the case of a burial, a coffin and a place in the cemetery are required. Sometimes, these costs hit the family budget hard. Dog life insurance will help to offset costs and reduce emotional distress.
What does the cost of pet insurance depend on?
Most typically, animals that bring income are insured. It can be an exhibition specimen or a breeding breed. The amount of payments calculated individually for each four-legged friend. The cost of insurance affected by:
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kind of animal;
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breed;
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age;
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total sum insured;
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amount of payments;
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geographical location.
Dogs are more often insured than cats. Approximate insurance for a small breed dog will cost $250. Large purebreds and mongrels can cost $300-$600. It can be a Yorkshire terrier, Dalmatian, and similar breeds. Insurance for a Doberman or Shepherd will cost around $600.
Is it worth ensuring the life of a pet?
Before you find out whether can you get life insurance on a dog, you need to collect all the documents that confirm the purchase of the animal. They will be an argument for issuing a policy. In addition, the insurance amount can be increased on the basis of these documents.
It is not always economically profitable to take out insurance for an animal that does not bring profit.
