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Pet Insurance

CHAPTER I Introduction
1.1 What is Pet Insurance?

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Pet Insurance 1.1 WHAT IS PET INSURANCE?
Do you have a pet? For sure you are like other pet owners who sincerely and generously love their pets. Thus, you need to secure a pet insurance. This insurance product is not very common yet, but it surely is getting more and more popular as years go by. In fact, many pet owners these days are securing insurance for their pets. The market for pet insurance products is rapidly and constantly expanding. To begin with, a pet insurance is an insurance product that is bought to cover for a pet’s overall health in case accidents or illnesses happen in the future. The product is provided so that the pet owner could be able to pay for all the veterinary expenses in case of possible sickness or accident. It is a fact that veterinary costs are very high, often much more expensive than actual health costs of pet owners. This is especially true when pets are of rare or expensive breeds. If you have your pet properly insured, you could always rest assured whatever happens to it. You could shoulder veterinary bills and claim to refund those expenses in the future. This is very helpful especially these days when it just much harder to earn money because of the global financial crisis. Filing for a claim is not very tedious and difficult. That is one of the reasons why more pet owners are now deciding to insure their beloved animal companions. In the past years, insurance policies for pets have broadened to include coverage for many other possible eventualities. Originally, such products only cover pet hospitalization. Now, most insurance for pets cover x-rays and surgery as well. Long-term treatments are also covered, though regular veterinary checkups are still not. Many products also cover alternative or complementary therapies. Some even go to the extent of offering advice lines to the owner so that claims could even be possible in case the pet is lost. Thus, many observers note that pet insurance policies pose more advantage to the pet owners. This is because the animal owners are the one responsible in case the pets get injured or ill. They would be the ones paying for the bills. And because as mentioned, veterinary costs are very high, it would be much of a help for anyone if he would be spared from paying out hefty bills, especially these trying times. Veterinary professionals advise all pet owners to invest in pet insurance policies. This is because doing so could help treat and care for the animal in
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Pet Insurance
accordance to what is best for such companion animals. It is also ideal because pet owners should make sure pets are given specific and necessary treatment, not according to what is afforded. Thus, insurance for pets should only cover circumstances that owners should be thinking about prior to or during pet ownership. What’s more? Several pet insurance policies even offer third-party coverage so that you could even file for claims in case your animal companion incurs injury to others or damage to other people’s properties, which should be shouldered by the pet owner in most instances. Even pet boarding expenses during hospitalization and even holiday cancellation bills are covered by some products. Most insurance policies cover pets in their lifetime, while some cover just a few years. Taking out a veterinary pet insurance for your cat or dog will help you to make sure that your pet can and will be taken care of in the event of an unexpected emergency requiring treatment by a vet. Pet health insurance enables you to take an animal to the vet even when you might be in a position where you might not have sufficient funds to afford it. You can take out a pet insurance for any kind of cat or dog, and sometimes even for other, smaller, animals such as birds, rats and hamsters.

www.petsalley.com
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Pet Insurance

Chapter II Why do you need Pet Insurance?

2.1 Peace of Mind 2.2 Responsible Care 2.3 Financing your Pet’s Health 2.4 Avoiding Difficult Decision 2.5 Planning for the Future 2.6 Advantages n Disadvantages of Pet Insurance

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Pet Insurance WHY DO YOU NEED PET INSURANCE?
Did you know that the average costs of veterinary treatment have more than doubled in the past ten years? And that costs for certain kinds of treatments, including surgery, chemotherapy and even routine preventive procedures, have risen even faster? The costs of keeping your pets healthy – or even saving their lives – have never been higher. Consider these facts about pet health care:
• • • •

There are roughly 6 million new cancer diagnoses made in dogs and a similar number in cats made each year. 88% of dog owners and 63% of cat owners took their pet to the veterinarian at least once in the past 12 months. The average number of visits to the veterinarian each year is 2.8 for dogs and 2.3 for cats. The most common reason for veterinary visits for dogs and cats is routine care, which includes physical exams, vaccines, dental work and other related services. These routine visits, on average, cost dog owners $211 each year and cat owners $179 each year. In addition to routine care, dog and cat owners spend an average of $574 and $334 each year, respectively, on surgical veterinary visits for various illnesses and injuries.

Unfortunately, you never know when your pets may experience an injury or illness. But with a Pets health Care Plan, you won’t have to put a price tag on their life. You can even choose a plan that reimburses you for routine preventive treatments like dental cleanings and vaccinations.

2.1 Peace of Mind
No one plans on their pet getting sick or being in an accident. With Pet plan, you don't have to worry about being faced with unexpected medical bills. You will be able to provide the best possible care for your pet when the unexpected happens.

2.2 Responsible Care
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5 Planning for the Future Page 6 . stimulation. You'll always know your monthly costs so you won't be caught unprepared in the case of an emergency. 2. not the cost of care.4 Avoiding Difficult Decisions Did you know that many pets do not receive potentially life-saving treatments because the cost is too great for the owners to bear? Pet insurance allows you to provide your pet with the best possible care.3 Financing Your Pet's Health We all have the best intentions when it comes to saving money for emergencies. It's second nature. Our Cover for Life plans for dogs and cats are like an emergency fund that never runs out! Pet insurance is a way to budget and control the cost of keeping your pet healthy. Today. 2. 2.insuring your pet is just as common as insuring your home or car.it means being able to provide the right environment. responsible pet ownership about more than loves them . Treatments that may otherwise be unattainable can be provided without a second thought.like the UK and Sweden . Your primary concern becomes the health of your pet. lifestyle. You'll be free to provide your pet with your love and attention in times of need. nutrition and health care for your pet. however it seems like something always comes up and we're back to square one.Pet Insurance In many European countries . Decisions regarding treatment are no longer complicated by financial restrictions. exercise and activity levels.

However. even if you don’t need to take your pet to see the vet. Disadvantages to Insuring Your Pet 1. When other people are looking after your dog they don’t have to hesitate to take the animal to the vet if they think that something might be wrong with the animals. Pet insurance is your way of preparing for the costs of these unexpected occurrences. few people budget for the common illnesses and medical problems associated with their pet's type or breed. you are completely covered if they develop anything in the future. Protection from the Unexpected When people choose their dog or cat. or for the additional accidents or mishaps that occur over the course of an average pet's life. 3.Pet Insurance When you insure your pets before they develop health problems. fights with other pets and swallowing foreign objects. they often plan for how compatible that species or breed will be with their lifestyle. your pets will be covered for any conditions that do not exist before enrolling or that arise after the waiting period. Don't be caught unprotected. You won’t have to fork out a huge sum of money if your pet has an accident and needs medical assistance or surgery. depending on the reason why you decided to get a pet and possibly opt for a pet medical insurance in the first place. 2. You have to pay a monthly fee. Advantages to Insuring Your Pet 1. so you can go on with your life as quickly and easily as possible 2. Page 7 . Insure your pets before anything happens. You always have the security of being able to provide your pet with proper medical care and you will be avoid to get and pay for treatment. With Pet plan. things like ear infections.6 Advantages and Disadvantages of Pet Insurance There are many reasons to insure a pet.

Usually companies only pay out 80%.petinsuranceplans. 3. www. A pet insurance company will hardly ever reimburse you with 100% of the total amount that needs to be paid for your pet’s treatment. An insurance repaying annual checkups visits and surgery and other medical care can be expensive.Pet Insurance 2.com Page 8 .

Pet Insurance CHAPTER III How Does Pet Insurance Works? 3.2 Step 2: The Waiting Period 3.3 Step 3: Making a Claim 3.4 Step 4: You Receive Your Claim Check How Does Pet Insurance Work? Page 9 .1 Step 1: Get a Policy 3.

3. Usually there is a waiting period and some pre-existing conditions may be excluded temporarily or permanently from your policy.2 Step 2: The Waiting Period The waiting period is the time between when you first sign up for pet insurance and when your full coverage kicks in. All pet insurance companies in the United States permit you to visit any veterinarian in the country including emergency veterinarians and specialists. 3. and for illnesses as long as 4 weeks later.1 Step 1: Get a Policy Most pet insurance companies will issue a new policy to pets aged 8 weeks to up to 8 or even 10 years old. Mexico. will even cover you in Canada.Pet Insurance Pet insurance is actually quite flexible. Some pet insurance companies.3 Step 3: Making a Claim Page 10 . say March 3rd. For example. and other parts of the world when you are on vacation. Pet insurance is what is known as a indemnity insurance where you pay the claim up front and the company reimburses you after applying your deductible and co-pay. until you reach your policy's annual or lifetime maximum. say March 31st. Most pet insurance companies have a waiting period of 48 hours for accidents and between 14 and 30 days for illnesses. sometimes older if your pet undergoes a medical exam. if you sign up and begin coverage on March 1st then your waiting period for accidents may be two or three days after. after that there is no waiting period on your pet insurance. 3. including Embrace. The waiting period is there so that no one takes out insurance immediately after an accident or illness. The waiting period only applies in your first policy year.

can and do make exceptions to this but these must be arranged between you. The main reason is that pet insurance is a very. it is assessed and you usually receive a check or direct deposit back into your account minus any deductible or copay that apply to your policy. you pay the bill and fill out a claim form that your veterinarian signs.infiniteadvice. If you paid for additional coverage’s like routine care or prescription drugs then these will be reimbursed on your claim too according to your pet insurance plan's limits. your veterinarian. including Embrace. 3. until you reach your policy's annual maximum. very small industry compared to human health insurance. However many companies. Some pet parents wonder why the pet insurance company can't reimburse the veterinarian directly like in human health insurance.Pet Insurance Once you've gone to the veterinarian. You fax or mail this form in to the pet insurance company along with your paid and itemized veterinary bill.com Page 11 . and the pet insurance company on a case-by-case basis. The computer systems aren't in place that would allow direct reimbursement to the veterinarian and these networks are incredibly expensive to build. www.4 Step 4: You Receive Your Claim Check Once you've sent in your claim form.

Pet Insurance CHAPTER IV How Did Pet Insurance Companies Get Started? Page 12 .

The idea of pet health insurance companies actually did cross the big pond and make its way to England and it grew to the point where now the United States and England go hand in hand with offering pet health insurance for pets. The idea initially caught on with some larger insurance companies like Firemen’s Fund who tried to sell pet insurance but closed their pet insurance division in 1994 because they had sold less than 10. The idea was working and started catching on with people all throughout the United States and England. Pet health insurance companies actually started as a response to the notion that good people were forced to put pets to sleep over curable conditions because those curable conditions cost too much money to get treated. and soon other pet insurance providers started to break through and make a stand in the industry.1 How Did Pet Health Insurance Companies Get Started? Pet health insurance companies got their start in 1982 when a company called Veterinary Pet Insurance sold a policy to help protect the health and welfare of one of the world’s most famous pets. But in the early days customers just did not see the importance. Pet health insurance companies found the initial year’s rough going as pet owners just did not see the need to invest in pet insurance for their pets’ health. The only surviving pet health insurance company was Veterinary Pet Insurance and they somehow managed to make it through a time when other pet health insurance companies were opening and then closing within a twelve-month period. People have people insurance companies so why can’t pets have pet health insurance companies? The idea of pet health insurance companies blossomed from there. Both companies were started by people with extensive experience in the insurance industry and both started with very low key marketing plans and relied more on the push being offered by pet supplies companies than trying to over do any marketing plan.000 policies in 3 years. Getting Some Big Names Involved Helped In the late 1990’s Procter & Gamble finally started to get involved with pet health insurance companies through their pet food division. Page 13 .Pet Insurance 4. Lassie. Iams. It just seemed natural to the 700 veterinarians that helped to start that first pet health insurance company Veterinary Pet Insurance. In 1997 Rhona Sutter established the Pet Protect Company and Russell Smith III started the Hartville Group.

www.infiniteadvice.Pet Insurance In 2006 Pet Protect had to close their doors but the Hartville Group and Veterinary Pet Insurance are still going strong.com Page 14 . But more companies are starting to make a go of it in the pet insurance field and the hope is that people will see that there is more support for the idea of pet insurance and they will get on board with it. There have been very few companies that have tried to sell pet insurance in the past thirty years with only about seven companies opening and closing since 1982.

Pet Insurance CHAPTER V Types of Pet Insurance 5.1 Pet Health Insurance 5.2 Pet Liability Insurance Page 15 .

1 Pet Health Insurance Regardless of whether you've purchased your pet from an expert breeder or adopted from a local center. many owners are turning to pet health insurance plans or pet health care coverage. That's where pet insurance comes into play.Pet Insurance TYPES OF PET INSURANCE To many families a pet can bring love.whether it's a routine check up or emergency care. We're also going to discuss each of these two types of pet insurance separately and for a very practical reason.pet health insurance and pet liability insurance. These initial visits can run anywhere from $50 to $250 depending on where you live and the extent of the medical services provided. immunizations as well as routine medical examinations. Pet liability insurance is often included as part of your homeowner's insurance policy and pet health care insurance carriers specialize in the medical care / veterinarian segment of the insurance industry. we're going to talk about two types of pet insurance that all pet owners should seriously consider . all pets should see a veterinarian for an initial examination. If you add to this the unplanned costs that can occur from accidents and illnesses you quickly realize why there is a steady and growing demand for health insurance that covers pets. companionship and security to a home. Pet Health Care Coverage To protect themselves from the high cost of pet care. Most pets will then require regularly scheduled follow up visits to a veterinarian as part of a well-care program that includes vaccinations. In fact. And with this relationship comes a responsibility on behalf of the pet owner to provide for their pet's proper veterinary care . These insurance plans cover both the costs of routine health care as well as the costs for medical care administered due to illness. The point here is that the costs of providing routine pet health care can add up. Typical health care coverage for your pet included in this type of insurance includes: Page 16 . 5.

A quick stop to VIP Pet Insurance allowed us to obtain health insurance quotations for both a dog and a cat.Pet Insurance • Routine and emergency veterinarian office visits • Pet hospitalization • Prescription medications • Diagnostic medical tests • X-ray examinations • Surgeries • Heartworm Protection • Spaying and Neutering • Laboratory fees • Vaccines and immunizations Selecting Pet Insurance Whenever you're considering buying insurance you need to make sure you read all the fine print when comparing policies. pet health care insurance policies typically include: • Annual Spending Caps . you might be pleasantly surprised to find the monthly insurance premiums are pretty reasonable. • Page 17 . You'll find that the best pet insurance carriers will clearly spell out the terms and conditions of the policies they have to offer.while some heath care policies carry lifetime maximums or caps on payments made. Deductibles and Co payments . pet insurance often carries annual spending caps. For example. Make sure you understand the details of any policy before you start paying your monthly premiums. Pet Health Care Insurance Cost If you think pet health care insurance is too expensive.you'll find that pet insurance typically comes with deductibles or copayments that are higher than you might be used to seeing with an HMO. As is the case with other types of insurance. pet heath care insurance carriers may charge deductibles in the area of $50 per visit.

while health care insurance premiums for a cat are in the range of $25 / month. It may be expensive or impractical to obtain health care insurance for animals with pre-existing health conditions. a more common tactic of an insurance company might be to identify certain breeds of dogs that have been associated with these types of injuries and excluding them from coverage. but typical health insurance premiums for a dog will be around $32 / month. The first and foremost reason for considering this type of insurance has to do with the simple fact that dogs do bite. Today's new insurance policies may actually exclude bites and injuries caused by dogs . In addition. And the liability payments associated with these accidents now approach one billion dollars annually. However. especially dog owners. nearly five million people in the US along are bitten by dogs.while other insurance carriers are beginning to eliminate this coverage from their existing policies. Each year. Keep in mind that these premium quotes are for what's assumed to be a relatively young and healthy dog or cat.Pet Insurance Example Pet Insurance Costs Costs will vary according to the plan selected.000 in coverage. 5.2 Pet Liability Insurance The second type of pet insurance we're going to discuss has to do with pet liability insurance. Typical renters and homeowners insurance policies provide victims of dog bites with $100. The second reason for carrying this type of pet insurance is because it helps to protect those that are around the pet most frequently. it was pretty easy to find pet liability insurance. That means protecting friends and relatives from the expense associated with a dogrelated injury. Every pet owner. needs to carefully consider purchasing liability insurance for several very good reasons. Finding Pet Liability Insurance In the past. the insurance industry has been slowly moving away from providing this type of pet insurance automatically within a homeowner's policy. Page 18 .

How Does Liability Pet Insurance Work? If you are a homeowner. especially dog owners. or any other breed listed by your insurance company as a dangerous breed. to the victim. Dog bites are the most common claim.read your policies so that you have a good understanding of what's covered and what's not covered. Homeowner’s insurance companies will often list the breeds of dog and types of animal that they will not cover. house guest. If you own one of these breeds of dog. These liability policies minimize the financial risk pet owner’s face when their pet becomes violent toward people or destructive to property. then you may want to switch to an insurance carrier that does provide you with this coverage. looking into a pet liability insurance policy is necessary in the event that they become violent or destructive. Why Carry Pet Liability Insurance? Pets are simply unpredictable. You don't ever want to be surprised when you're filing an insurance claim. we're going to finish up with the same warning we gave earlier when talking about pet heath care insurance policies . The pet owner with liability insurance protects not just himself or herself. What Is Pet Liability Insurance And Who Needs It? Even if they seem sweet and docile. Because pets are unpredictable. any pet can suddenly turn on a passerby. but also the potential victims. with the exception of trespassers. your homeowner’s insurance provides some coverage for damage done by pets to others and their property. injury or death caused by their pet. This is vital. causing severe injury or even death. as most states will hold the dog owner liable for the cost of injuries done to individuals or property by a dog. If you own a dog and your existing insurance policy explicitly denies this liability coverage. Pet liability insurance covers the cost of damage. generally. with nearly a million dog bites reported around the US last year alone. Page 19 . Finally.Pet Insurance The bottom line here is that pet owners. or family member. every pet owner should purchase pet liability insurance. should make sure their insurance policy provides them with the protection they need. but companies are beginning to drop this stipulation due to the increase of claims as well as the increased popularity of pets that happen to be prone to destructive behavior.

maintaining contact with your neighbors about your pet. if your pet has a bad history of violence. as well as in some cases property damage caused by your pet. Generally. Also. Being a responsible pet owner should be the most important thing to pet owners. • Fence in your property—preventative measures will keep potential victims out of harm’s way. there are several things you can do as a pet owner to improve your chances of obtaining for your dog or liability pet insurance. • Neuter males to curb aggression—male animals generally calm down after the procedure. the policy will have a maximum benefit in a specific dollar amount. All of these can be observed and proved easily to an insurance company. Just because you are insured does not mean you won’t be fined or jailed in the event your animal causes severe injury or death. improving your chances of getting insurance for your pet. gives you better chances of insuring your pet. Can I Be Denied Pet Liability Insurance? If your dog has a history of attacking. as well as disallowing children any time alone with the animals. If not. however. Chances are. • Sign up your pet for obedience training—certificates can be sent to insurance companies. Page 20 . Owners in the majority of states can be subject to criminal proceedings if they know their dog has a tendency toward violent behavior. especially if they are difficult to insure. the legal system will step in eventually. especially those owning potentially dangerous animals.Pet Insurance What It Covers What It Covers Pet liability insurance covers the cost of injuries to third parties caused by a pet? This includes bites and attacks to third parties legally on homeowner’s premises. you might have difficulty getting insurance liability for your pet. • Keep the animal on a leash when outdoors—reduce the animal’s ability to bolt after someone or something. has bitten before. or is a member of a violent breed. if not outright denied. What It Does Not Cover What It Does not Cover The pet owner with liability insurance is still answerable to the legal system.

Pet Insurance CHAPTER VI How to Buy Pet Insurance? 6.2 Find an Agent 6.3 Discuss the Options and Ask Questions 6.1 Do Your Homework 6.4 Complete the Requirements Page 21 .

This is perhaps why the number of pet insurance products in the market has tripled in recent years.Pet Insurance How to Buy Pet Insurance? With more and more people wanting to answer their paternal and maternal instincts by owning pets. you need to prepare yourself and read about insurance policies and their features. 6. never be afraid to ask. This gives pet owners more options when choosing the right pet insurance product for their animal loved ones.2 Find an agent One of the most important things that you need to do is to find an insurance agent that you know you can trust. 6. 6. Their experience will be a big help to you. Understanding the policy will allow you to choose wisely and in turn get a Page 22 . This is vital because you need someone who will put your interest first and your pets before their own self-interests. Ask them for recommendations on great deals in pet insurance and also advice on what to look for. You see these insurance agents earn a commission for every pet insurance that they sell. Most insurance companies will have websites where you will find the products that they are offering along with their company profiles and services offered. The internet is one of the most important sources of information.3 Discuss the options and ask questions Never be afraid to ask questions. If there are things in the policy and the features of the product that you don’t understand. We will tell you the steps that you need to take in buying pet insurance.1 Do your homework This means that before you buy a pet insurance or even contact an agent. It will also be a good idea to talk to other pet owners who have also bought insurance for their pets. You can ask your family and your friends for recommendations. it will be a good idea for you to read this article. If you are one of those pet owners who have not bought a pet insurance yet. the need for a more comprehensive coverage on pets’ health and life have become more urgent.

you need to take into consideration the duration of the coverage. www. Other important things that you should consider are when the insurance policy will be covered and also if the policy will also cover vaccinations and shots. you will also not be entertained even with an insurance policy. Another feature is the amount of coverage. You need to make sure that all your requirements are in order.com Page 23 . That is actually one of the things that you have to look into. you need to choose the maximum amount that your pet will be covered.4 Complete all requirements Once you finally have finally decided on the kind of pet insurance that you will be getting. Some will be starting a month after you signed the contract. this means that you need to have the money first to pay the hospital. Otherwise. you may have problem when it is time to reimburse the payments that you have made.money-zine.Pet Insurance great deal. 6. Will you buy something that will cover your pet’s who lifetime or will something that you can renew annually suffice? This will largely depend on your budget and your pet’s condition. When buying a pet insurance. the next step is to make the payment and accomplish all the requirements. Depending on how sickly your pet is. Otherwise. Because payments are reimbursed.

3 Value of Pet Should Always Be Considered 7.Pet Insurance CHAPTER VII Factors to Consider Before You Buy Pet Insurance 7.4 Capacity to Pay Should Not Be Overlooked Page 24 .1 Consider the Type of Animal 7.2 Asses the Animals Age 7.

Before you buy any insurance product for your pet. Page 25 .2 Assess the animal’s age Take note that there are age limits observed for pet insurance products. Pets that are exotic and are rare should take more expensive insurance policies with greater premiums. you have to make sure your pet insurance policy is appropriate and has a broad coverage. 7. In general. Many insurance products for pets cover the animals in their lifetime. make sure you take note of the following factors first. surgeries. Such animals are usually just confined within the cage. If your pet is about five to 10 years old. Also check terms and conditions so you would know what adjustments are made in the premiums as your pet ages further. It is a fact that healthcare of pets is very expensive. some insurers would not accept insurance applications for pets that are already exceeding a specific age. 7. However. Insurance products for pets are designed and made to help owners shoulder veterinary expenses for costly hospitalizations. and x-rays of the companion animals in the future. or a dog as these animals are usually falling ill and sometimes need medical attention. so it is best to buy a policy the moment you the pet is born or bought. It helps if you are sure you would not have to worry much about whether you would have enough money in case inevitable accidents and illnesses hit your pet. That is because no pet owner could tell whether the animal would not be spared from any illness or accident in the future. A hamster or a gerbil may not need insurance because it is not likely to require veterinary or medical attention. confinements.1 Consider the type of animal It is best to invest in a pet insurance policy if you own a cat. it may not already be qualified for some ideal pet insurance products. Coverage for older pets are more expensive.Pet Insurance Factors to Consider Before You Buy Pet Insurance If you have own a pet. Life expectancy is also just about three years. thus. there could be no accident. a horse. Pet insurance policies are now considered as necessities. while others only provide insurance for just several years. sometimes costlier than human healthcare. you should make sure it is insured.

you could opt for the cheaper ones.com Page 26 . the more expensive the pet is. Take note that policies could also cover pet replacement in case the animal is lost.3 Value of the pet should always be considered Your pet needs insurance if it is expensive. Experts say this is because costs of owning and maintaining a pedigree pet are high due to significant veterinary bills. Remember that without a pet insurance you would incur more expenses in the future in case the animal figures into an accident or fall very ill. www. the more costly the insurance company would pay. thus their higher vet bills. Thus.money-zine. 7. The best advice experts give to pet owners is to immediately buy an appropriate policy as soon as the pet is owned. These animals are also more prone to hereditary conditions.Pet Insurance Pedigree pets are logically requiring more expensive insurance products compared to cross breeds.4 Capacity to pay should not be overlooked If you think the policies are costly. Selective breeding could require much higher insurance policies also due to the involved hereditary conditions. 7.

Pet Insurance CHAPTER VIII Things That You Need To Do When Buying a Pet Insurance 8.2 Have Your Pet Checked 8.3 Choose a Reputable Company Page 27 .1 Ask People for Recommendations 8.

With hundreds of pet insurance products about their coming from different companies. It is actually for those who do not have the emergency money that pet insurance are for. clinic bills for your pets are not inexpensive. They can be a burden for you especially if you don’t have the budget for it. That way. you need to make sure that you do all these things. You need to decide on what to purchase for your pet. If you are going to ask for recommendations. It is important that you also take care of these expenses whether or not your pet is sickly. And like the medical expenses of humans. Page 28 . ask people what they think. But before you purchase your pet insurance. Here are some of them. you need advice on how to choose the very best of them. There are two kinds of pet insurance policy. They will surely know some of the best pet insurance products in the market today. It will depend on your budget of course and also the personality and health of your pets. You may not realize it early on but it will dawn on you once your pet starts to visit the veterinarian every week and you start to rack up the bills. a great deal for your pet. they will get sick and a veterinarian needs to attend to them.1 Ask people for recommendations If you really want to get the sweetest deal you can find. This is because as they grow older. ask them anything about the policies. One is the one that will cover your pet in his or her own lifetime while the other one is a policy that will only cover an animal for a specific period of time. 8. Ask pet owners their recommendations. They will be able to tell you and explain to you in great detail than maybe someone who is selling the pet insurance. you can be sure that what they will be sharing with you are things that they have actually experienced.Pet Insurance Things That You Need To Do When Buying a Pet Insurance Pet insurance is very important. Also. make sure that you also ask pet owners who have had their pet insurance for a long time. That way. you will have a better deal.

8. the company still exists.2 Have your pet checked Although it is important that you purchase a pet insurance for your pet.3 Choose a reputable company As much as you can. all the more that you should have him checked. especially his shots.Pet Insurance 8. If you got him from an animal shelter. Also. why do so? Before you buy one. if you do not have the budget for it.money-zine. This is important because you will never know when your pet will get sick and you need to make sure that when that happens. purchase a pet insurance from an insurance company that you know will not fold overnight. Is he someone who can potentially have a health problem? Is he sickly? Is he prone to having accidents? Is he an animal who needs numerous check-ups every year? These are the things that you need to know before buying that insurance.com Page 29 . check if he had already completed all his shots and vaccines before you bought him or before he was given to you. www. have your pet checked.

Pet Insurance CHAPTER IX Various Reasons for Getting a Pet Insurance Page 30 .

For some people. Most of us think that getting a pet insurance is very expensive. we are not just responsible in giving them food. they are indispensable members of the family. There are flexible insurance plans which enable the pet owner to get the desired veterinarian. there are also conditions or fine print that could be a problem when claiming insurance benefits. you would still need to analyze and read the agreement and policies well. This would ensure that your pet’s well-being would not be compromised in the future. A simple health problem like a fracture could cost about $2. As pet owners. the pet insurance company underwent rocky times. just like in insurances for people. Pets get sick often. There are different situations that would call for a pet insurance. currently. There are some breeds of animals that have genetic problems.000. there are 10 companies in the United States as well as in other countries like Canada and countries in Europe. This is something you cannot pay immediately. The cost of getting a pet insurance depends on different factors.Pet Insurance Various Reasons for Getting a Pet Insurance Pets are not just animals that we take care of just because they entertain us. However. There are pet insurance companies which offer good coverage but do not have to cost too much. It is our responsibility to make sure that they would be living a long and healthy life. Faster than your wage increase. Only 3% of pet owners in the United States got insurance for their animal companions. It could depend on the breed and the location. even if it is your pet’s insurance policy. Pet insurance is something that would ensure we are doing our responsibilities. United States residents are not into getting pet insurances. Pet insurances operate the way insurances for people do. Pets are our companions. Another overwhelming fact is that the trips to the vet are getting more and more expensive. In the span of 27 years. Your fourPage 31 . Pet owners can get overwhelmed by the cost of pet medication. with a pet insurance we get to know and carry out the best option to save our pet’s life. Pet insurance became accessible to consumers in the United States in 1982. There used to be about 30 companies before. Because of this. Dogs and cats do not cost the same. unless you would have a pet fund allocated for this kind of emergencies. Shockingly. That is low compared with the 19% in England and 49% in Sweden.

Pet Insurance legged friends are not the only one that could get pet insurance. But just because there are people telling you to buy insurance. falls and vehicular accidents. Regular insurances would not cover vaccinations. But if you prefer to have this part of the policy. fractures. There are situations when maintaining your pet’s health becomes more expensive that the pet itself. Remember that this is about your companion’s life. like congenital diseases or pre-existing health problems. you don’t just jump into the water. surgeries. Not everything is covered by the pet insurance. laceration. examinations. Those owners who have expensive pets are advised to get pet insurances for them. then you could get premium plans. scans and x-rays.net Page 32 . hospitalization and prescription medicines. birds and exotic animals like reptiles could also be covered with insurance. It is a must to look out for fine print when choosing your pet insurance. It is best to choose wisely and take your time before making any kinds of decision. cancer treatments.doughroller. Pet insurance would normally cover accidents. and spray or neuter. Accidents would include ingestion of poison. illnesses. www.

Pet Insurance CHAPTER X AVIVA Pet Insurance Page 33 .

we will pay your vet directly for the treatment required. Will Aviva insure animals other than dogs or cats? No.no matter what age he or she reaches (cover for death caused by accident or illness only applies to pets aged under 9 years (dogs) or under 11 years (cats) at the start of the policy). Page 34 . What will happen when my pet reaches old age? Your cat or dog will continue to be insured for the cost of vet’s fees for treatment of illness and injury for as long as you renew the policy and pay the premium . Gold and Platinum.Pet Insurance AVIVA PET INSURANCE What are the different levels of cover? Aviva pet insurance is available in three different levels of cover: Silver. Can I insure a dog or cat of any age? Your pet can be insured from the age of eight weeks. Does Aviva pet insurance have a no claims discount? We want to ensure that pet owners are not discouraged from making a claim if the need arises. Your pet insurance premiums are calculated according to various factors. so we don’t operate a no claims discount system. Will Aviva pay my vet direct? With your permission. There is no upper age limit when claiming for vet’s fees with Aviva pet insurance (excluding death by accident or illness). Aviva only insures pet cats and dogs.

health/medical problems that have affected. What’s the excess on my pet insurance? The vet’s fees excess is £75 per condition per year. do I need to wait until the treatment has finished before I can make a claim? Page 35 . If my pet requires ongoing treatment. or are currently affecting.e. you can read more about the scheme on the DEFRA website. Will my pet be covered if I take him/her on holiday with me? Aviva pet insurance automatically covers your pet in countries participating in the PETS Pet Travel Scheme (excluding non-EU and long-haul countries as defined by DEFRA) for up to six months in any one period of insurance (12 months). The PETS Pet Travel Scheme allows owners to take their pets to participating European Union countries (plus Eire) without having to quarantine them. Is dental treatment covered? Dental treatment required as the result of an accident is covered.Pet Insurance I have more than one pet – can I insure them on the same policy? We can only insure one pet per policy. preventative treatment and dentistry needed due to illness is excluded from the policy. your pet) cannot be covered when you take out a new pet insurance policy. routine procedures. but you will receive a 10% discount for each additional Aviva pet insurance policy you purchase. Will I be covered for medical problems my pet has suffered in the past? Pre-existing conditions (i.

e. gun dogs and dogs for the blind. security or racing purposes cannot be covered. Can I insure a working dog? Sheepdogs. gun dogs. guard.com Page 36 .avivalifeinsurance. How can I pay for my Aviva pet insurance policy? You can pay for your policy each year securely by credit or debit card. • Dogs that are used for guard security.existing) illness occurs after the exclusion period. or straight away if an accident. Are there any types of dogs or cats which Aviva cannot insure? Aviva cannot insure: Any dog that is required to be registered under the Dangerous Dogs Act 1991 and the Dangerous Dogs Act (Northern Ireland) order 1991. You can continue to make claims until the limit for that insurance period (12 months. you can make a claim as soon as the treatment for the first new (i. Dogs that are used for commercial.Pet Insurance No. as long as the policyholder is the owner of the dog. or monthly by Direct Debit. racing or commercial purposes except for sheepdogs. not pre. • www. dogs for the blind and other assistance dogs can be insured with Aviva. or the maximum payout limit) is reached.

Pet insurance helps you do that.You Have How Much Saved Up? You keep saying you want to set aside an emergency fund for veterinary bills . indoor cats don't get enough exercise and can become overweight and unhealthy. older pets get arthritis and high blood pressure. The statistics say that our wages are having trouble keeping up. Not What You Can Afford When you are discussing treatment options with your veterinarian. you want to focus on doing the right thing.Pet Insurance Eight Reasons You Need Pet Insurance 1 . how much have you saved up so far? 6 .No Need to Decide Under Emotional Stress If your pet suddenly falls sick or is injured. Stuff like this happens. you can't really plan for it.000 to repair. 2 . 3 .Pets Can Get Sick Any Time Young dogs eat stuff they shouldn't. Could you pay this if it happened today? 5 .. the last thing you want to worry about is having to make a tradeoff between what you feel is right and what you can afford. not the cost.Vet Costs Rising Faster Than Your Wages Veterinary care is expensive and continues to get more expensive as it becomes more sophisticated.Seemingly Simple Things Can Cost Thousands A simple fracture can cost $2.Do What Is Right.. Pet insurance allows you to avoid life-or-money decisions like these. Page 37 . 4 .000 or $3.

com Page 38 .Because They Would Do It for You The unconditional love your pet shows you every day tells you.It's Not Expensive Pet insurance that is designed properly can help you plan for life's unexpected turns and be inexpensive too. 8 .petinsurancetips. www.Pet Insurance 7 .

People may not understand what you are trying to tell them. If you think that this can help you carry out your marketing goals.Pet Insurance ARTICLES Advertising Your Pet Health Insurance Company In any business. As a result. one of the most popular choice among the materials available are posters. as the business of pet health insurance is booming. But do not commit the mistake of saying everything all at once. you must remember the following steps in order to come up with effective posters. Once you started to advertise. You can settle for direct mailing pieces like postcards. This holds true even if you are running a pet health insurance business. You can have this done after a time and choose another message. You can also have flyers or company newsletters. you should not stop all of a sudden. But if you want to try the large format route in terms of print ads. In fact. you must choose what’s the most important for you at the moment. The idea here is to let as many people know about you. You actually have a lot of options when it comes to this. You must take extra care to come up with marketing tools periodically. If the financial aspect is your biggest dilemma. they might get easily turned off. Page 39 . 1. Your poster must be focused. What does this mean? Given the fact that you have a lot to say. instead of capturing their attention. one thing that you must not forget about is the importance of advertising. you must know that you have a lot of options when it comes to marketing and not all those have a price tag of gold. so does the industry of printing. The vast space of posters can be filled with everything that you want to tell your audience in a manner that they will be interested with what you are saying. catalogs and brochures. Highlight that factor on your poster’s design and the delivery of your message. The print medium has become the popular choice for business people in order to come up with marketing tools that can help them carry out their goals while staying within a specified budget.

Use colors. With all the right elements well taken care of. Use graphics on your materials. And once you’ve got them.Pet Insurance 2. These are your contact details.dogtips. You must not forget to include the vital elements about you on your posters. This will add more life to your posters. Take advantage of the poster’s size to come up with the kind of design that will appeal to your target market.net Page 40 . you must seek out the services of the right printing company to process your materials. You must aim for the eyes of your target market. 3. After doing the abovementioned for your posters printing venture. These three must be uniform with all the other tools that you have used before or that you are planning to use in the future. But you must tell them what it is that you want to impart to your audience. Do not get lost with the process though. your company name and your company logo. What do you want them to feel upon seeing your poster? From such ideas. your graphic designer can create variations of designs that you can choose from. www. those eyes must linger on your materials until they have understood what you are trying to say. You can hire a professional to accomplish this for you. your posters will surely help boost your pet health insurance business.

in the coming years. Nowadays customized pet plan insurance programs are available for animals like cats and dogs. Pet medical insurance plans in India normally provide coverage for death from disease. Industry insiders in India expect pet insurance business to boom with the increased public awareness about the concerned schemes. horses and elephants. Pet care insurance in India is still at a nascent stage. Pet insurance schemes essentially pay for the veterinary costs in case one’s pet falls sick or suffers an accident or injury. Usually the premium for pet insurance varies between three to five percent of the amount insured in India.Pet Insurance CONCLUSION Pet insurance is slowly but surely catching up in India. Pet insurers put the number of pets at over 4 million. Most of the clients come from the super rich sections of society. Insurance coverage is also extended for public liability and accidental death pets. Page 41 . Pet medical insurance is essentially a risk mitigation strategy for guarding against significant medical expenditure for treatment of sick or injured pets. so did the cost of medical treatment. the insurers foresee a huge untapped potential in this sector. However. Some pet plan insurance products also make payments for loss or death of the insured pet. disability and sickness. provides insurance for dogs. This has widened the market for pet insurance. Bajaj Allianz General Insurance and New India Assurance Co. With the recent developments in the field of veterinary medicine the life expectancy of pets has increased. National Insurance Co. a premier Indian insurance company. counted across Rs 400 corers. Currently the other key players in the Indian pet insurance market are United India Insurance Co. Oriental insurance.

net/insurance/should-you-buy-petinsurance/ http://www.infiniteadvice.co.html http://www.htmls http://www.money-zine.asp http://www.uk/ http://www.mapsofindia.doughroller.msn.com/financial-planning/buyinginsurance/pet-insurance-explained Page 42 .com/infowhatispetinsurance.com/pet-liability-insurance http://www.pettravel.petsalley.cfm.com/insurance/pet-insurance.html http://www.bestpetinsuranceplans.Pet Insurance Bibliography http:// business.petarticles.com/content/insurance/P76008. http://moneycentral.net/article/pet-insurance/ http://www.com/0001230.mypetcover.com/pet-insurance-articles/pet-liabilityinsurance.html http://dogs.com/why-pet-insurance.

PRAVIN AKOLKAR SHRI CHINAI COLLEGE OF COMMERCE & ECONOMICS ANDHERI (EAST). ZAVERI ROLL NO. MUMBAI: 400 069 Page 43 . 44 PROJECT GUIDE PROF.Pet Insurance UNIVERSITY OF MUMBAI PROJECT REPORT ON “PET INSURANCE” BACHELOR OF COMMERCE (BANKING & INSURANCE) SEMESTER-VI (2011-12) SUBMITTED BY: MOHIT J.

Pravin Akolkar.Com (Banking & Insurance) Semester-vi (2011-2012) hereby declare that I have completed project on “Pet Insurance”.Com.Pet Insurance CERTIFICATE This is to certify that Mr. The information submitted is true & best to my knowledge. Mohit J. 44 Page 44 . Mr. Zaveri the student of B. Zaveri) Roll No. [Banking & Insurance] Semester-vi (2011-2012) has successfully completed the project on “Pet Insurance” under the guidance of Prof. Signature of the student (Mohit J. Principal Course Coordinator Project Guide/ Internal Examiner External Examiner DECLARATION I. Mohit J. Zaveri of B.

Pravin Akolkar who has so ably guided my research project with her vast fund of knowledge. I also thank all those who have helped me & whom I have forgotten to mention in this space. My colleagues and especially my parents who have always supported and encouraged.Pet Insurance ACKNOWLEGEMENT It gives me immense pleasure in presenting my topic on “Pet Insurance”. I would also like to express my profound gratitude to my Project guide Prof. Pravin Akolkar. I take this opportunity to highlight the valuable contribution of Banking & Insurance Coordinator Prof. advice & constant encouragement without which this project would have not been possible. Page 45 . I candidly appreciate her implicit & valuable contribution in drawing up of my project. the success of this project report to large extent is also dedicated to them. I would firstly like to thank my institution and sincerely thank my Principal for providing me support and giving me an oppportunity for doing Banking & Insurance course and completing the project.

Pet insurance largely means insurance for dogs and cats. or is lost or stolen (all payments towards a claim have to be made by the pet owner). and birds. there are also arrangements for insurance for pet animals . There are a certain amount of people who find comfort and joy within the company of animals such as dogs. health insurance. with some special insurance available for horses. These animals readily accept whatever it is that you can give.Pet Insurance EXECUTIVE SUMMARY Apart from insurance for human being (life insurance. cats. or in case it had died. When you have procured an animal to be your domestic companion it is your sole responsibility to keep it well-nourished and safe. Pets are not like people who demand so much from you physically and emotionally. and others). home insurance. It does not cover the veterinary treatment like vaccination and neutering. These examples of animals have been tagged for the longest time as not only ordinary pets but more so as man’s unconditional friend.pet insurance is the insurance which plays the veterinary costs if one’s pet is ill. injured due to an accident. But this doesn’t matter that you will take them for granted. (Insurance agency like veterinary pet insurance covers other exotic animals also like chameleons and turtles). Such insurance are more practice in developed countries and insurance cover policies differ from company to company. fishes. Page 46 . One sure fire thing to show your love and respect to spot or kitty is to get a pet insurance. and other) or for properties (car insurance.

Home animals at present are now enjoying the same kind of status as that of the people living in the house. Page 47 . At present companies are giving consumers more involvement in the choice of the policy that they think fits their current economic conditions. 2009 records show that the country ranks second in the most number of pet insurance which is rated at 23 percent. 1947 was the first time when the market accepted pet insurance and the first policy was purchased in Britain. There are some companies that employ benefit schedule wherein only the procedure that are really needed are included while others tend to avoid the coverage of hereditary conditions. the consumers get more comfort and control in terms of the monthly payments that need to be accomplished. Pet owners have also increased their expectancy rte in the quality of care and lifestyle their animals can have. There are also policies that include payments done when the pet gets lost.Pet Insurance The need for pet insurance came into its peak for the reason that veterinary medicine which is linked to the industry has been adding up improvements via technological breakthroughs in the drugs and techniques utilized to treat animals. Basically a pet insurance takes care of your pet’s affairs particularly in times of illness. is stolen. It is a possible scenario that the insurance policy for your pets are not renewed even after the end of its term or there may be factors and preexisting conditions to be reviewed initially before renewal can take place. The entire coverage of the insurance is being discussed with pet owners and then companies allow them to decide to what extent deductible and co-insurance levels are. In order to get the best quality of policy you must be diligent enough to double check all the details as it may not adequately cover all the need of your animals in their present condition. or accident. or suffers from death. injury. Thus.

The rise to fame of pet insurance is a prime example of how people are taking emphasis of their duty as stewards to every bit of god’s creation. Page 48 . Times have changed for animals especially those in domestic vicinities.Pet Insurance Although there are several setbacks circling the acquiring of insurance for your beloved pet its benefits surely make pets face unwanted negative conditions.

5 Planning For The Future 2.1 Why Do You Need Pet Insurance? Peace Of Mind TOPICS Introduction PAGE NO 2.1 What Is Pet Insurance? II 2.2 Responsible Care 2.1 How Did Pet Health Insurance Companies Get Started? Types Of Pet Insurance Pet Health Insurance Page 49 .4 Avoiding Difficult Decision 2.3 Step 3: Making A Claim 3.2 Step 2: The Waiting Period 3.1 How Does Pet Insurance Works? Step 1: Get A Policy 3.6 Advantages N Disadvantages Of Pet Insurance III 3.3 Financing Your Pet’s Health 2.4 Step 4: You Receive Your Claim Check IV V 5.Pet Insurance INDEX SR NO I 1.

2 Pet Liability Insurance VI How To Buy Pet Insurance? 6.4 Complete The Requirement VII Factor To Consider Before You Buy Pet Insurance 7.1 Do Your Homework 6.1 Ask People For Recommendations 8.3 Choose A Reputable Company IX Various Reasons For Getting A Pet Insurance X XI XII XIII Aviva Pet Insurance Eight Reasons You Need Pet Insurance Articles Conclusion Page 50 .Pet Insurance 5.2 Have Your Pet Checked 8.2 Find An Agent 6.4 Capacity To Pay Should Not Be Overlooked VIII Things That You Need To Do When Buying A Pet Insurance 8.3 Value Of Pet Should Always Be Considered 7.3 Discuss The Options N Ask Questions 6.2 Asses The Animals Age 7.1 Consider The Type Of Animal 7.

Pet Insurance XIV Bibliography PET INSURANCE Page 51 .