Pet Insurance Reviews

What Is Covered And What Is Not Covered?

With the advancement in technology the spectrum of diseases that can now be cured has also increased in case of pets. Fall out is that the treatment has become costly, and taking pet insurance to obviate some of the costs is a wise choice. The technological developments mean that now your pet can also be subjected to sophisticated tests like MRI scan, radiation therapy, kidney transplants etc. Obviously, every disease would not be included in the list for which reimbursement can be claimed from an insurance company. There are certain diseases, which are covered by insurance and other, which are not covered. As the tools used in treating a pet has evolved and is attaining sophistication the list of diseases covered and list of diseases that are excluded also keeps on getting updated on a regular basis.

According to an estimate provided by the American Pet Product Manufacturers Association, Americans are expected to spend nearly $ 11 billion on veterinary care in 2008, which is 8.5% more than what was spend last year. With such a huge market, pet insurance indeed is a lucrative area. The first pet insurance cover that was sold for a pet was in 1890 by Claes Virgin. He had initiated the process of insuring the vets by providing insurance for the horses. It was in 1940 that the first pet insurance policy was sold in England.

There is a misconception among the pet owners that the pet insurance works in the same manner for the pets as it does for the human beings. The reality is not like that however. There is no pre-treatment tie-up with any of the specialized veterinary institutes in most of the cases. Pet insurance is reimbursed on production of the bills of treatment. The reimbursement is guided by the terms of the policy purchased by the owner of the policy. In USA the reimbursement of fees of the veterinary doctor is within the vicinity of 80-90% of the costs excluding the deductibles. The deduction of deductible depends upon the company and the nature of the policy. In England the veterinary fees is 100% reimbursable. If the bill is very high, the veterinary doctors allow the owner to part pay the bill and settle the claim later after compensation has been received, though he issues the complete bill to facilitate reimbursement. In USA it is a practice that the pet owner has to submit a request for the fee incurred by him. Pre-existing medical conditions are also included in the policy provided the animal is of a young age.