The Importance of Getting Pet Insurance

What Types of Losses Does Pet Insurance Cover?

It is great to own a pet, because it can provide companionship, entertainment and affection. However, depending on which type of pet you own, you may have to spend a substantial amount of money to keep it healthy and happy. Other than purchasing food, habitat, grooming products and accessories for your pet, you also have to pay for medical care in the event that it is ill or injured. In some cases, medical care for pets can put a big dent in the wallets of pet owners. However, there is a way to reduce the risk of financial losses that result from unexpected misfortunes that may happen to your pet, and that is by getting pet insurance.

Types of Losses Covered by Pet Insurance

Vet Bills

Similar to human beings, pets can get all kinds of illnesses, ranging from diabetes to cancer, and they are also susceptible to injuries. Treatments, surgeries and medications for pets are becoming increasingly costly, and it is not uncommon for veterinary bills to add up to thousands of dollars, depending on the type of illness or injury and treatment required. According to an article published in, a PetCareRX report revealed that the average cost of providing veterinary care for a dog has gone up by 15 percent over the past five years, amounting to $1,649 a year. The average cost of cat-care is $1,271, a 28-percent increase from five years ago.

Due to the recent economic crisis, many pet owners are unable to afford medical care for their pets, and they have to forgo vet visits in order to save money. If you have pet insurance, you will be protected against vet bills, and you can get the necessary treatment for your pet without worrying about the cost. Every pet will get sick at some point or other in their lives, and it is better to be prepared than sorry.

Liability Losses

There is a chance that your pet may attack other people or animals, or cause damage. This is especially possible if you own a dog. If the victim of the incident is injured or killed, or sustains financial loss because of property damage, he or she may decide to file a lawsuit against you. As a result of the lawsuit, you may be liable to pay thousands of dollars to compensate for his or her losses. Pet insurance covers financial losses that are incurred because of liability claims.

Other Types of Losses

If your pet is stolen or lost, you may have to pay advertising expenses, reward costs or emergency boarding kennel fees. Comprehensive pet coverage will give you protection against this kind of expenses. Most pet insurance policies come with an option to cover your pet when it is abroad. This coverage option can be useful if you travel frequently with your pet.

Different pet insurance providers offer different types of coverage and premiums. It is important that you do the necessary research to ensure that you get the right policy for your pet. Click here to find out how to choose the right pet insurance plan.

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One Comment

  1. We just got our dog in December and I never really thought about pet insurance before, but it totally makes sense!

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