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Introduction Pet insurance has been a growing industry year over year as pet owners choose to invest in protecting their furry best friends. As veterinary costs continue to rise, pet insurance has become a financial safety net and stress reliever for pet owners. This essay will catch you up on the basics of pet insurance: what it is, the types of coverage, and what factors to consider when pet owners are determining the right course for their pet’s health. The Benefits of Pet Insurance Among the benefits of possessing a pet insurance policy, one added benefit is securing peace of mind. Pet insurance policies provide financial protection in the case of a catastrophe, whether injury or illness, that a pet owner could not otherwise predict or prevent from happening. A pet owner pays a monthly premium to their insurance provider so that in the case of an accident or illness, the owner can avoid having to make difficult financial decisions in the desperate attempt to save their pet’s life or improve their pet’s quality of life. Coverage Options Types of coverage is the next factor to consider when deciding to purchase a pet insurance policy. Most companies provide accident-only, illness-only, and comprehensive coverage. Accident-only policies cover major injuries like lacerations or broken bones, typically the result of accidents. Illness-only insurance policies cover medical expenses related to illness such as allergies or infections. Comprehensive plans cover accidents and illnesses. Individual pet owners should evaluate their pets individually, paying close attention to their breed, age, and potential conditions that each breed might be prone to, before deciding to opt for accident-only or comprehensive level coverage. What Pet Owners Need to Consider In addition to these advantages, there are a few items pet owners need to keep in mind before purchasing a pet insurance policy. No pet insurance policy is created equal. Pet owners should understand what their potential policy will or will not cover before they find themselves faced with an issue. Most quality policies charge a waiting period before a specific illness is covered. Many policies limit coverage of pre-existing conditions and are useless to an owner who insures a pet that has already been diagnosed with a chronic condition. Owners should also understand the terms of the policy’s reimbursement process as well as the level of deductibles, co-pays, and limits on annual coverage among other details which may or may not become significant in time. Conclusion In today’s world, as medical costs continue to rise, pet insurance empowers pet owners to provide the best care possible for their four-legged best friends. For those pet owners with the basic knowledge of the advantages of an insurance policy on their favorite family member’s life, the process is a little less daunting. Pet insurance gives the peace of mind and the confidence that decisions will not be made based on finances. Champlain Valley along with its partner PetFirst Insurance provides the pet insurance Vermonters deserve and Champlain Valley is proud to offer.
