While most pet owners do not mind spending surplus amounts of money to ensure the well-being of their furry companions, it is often difficult to commit to a twelve-month long insurance agreement that you are unfamiliar with. Many questions come to mind when considering the most suitable insurance for not only your pet but also your bank account. A common concern for prospective pet insurance buyers is their level of vulnerability. In particular, how protected are pets and owners in such an agreement, and even worse, are they at a high risk of being dropped by their insurance company like a fresh hot cake from the oven? While the fear is understandable, rest assured that pet insurance follows similar guidelines and protocols to other insurance companies. Though it may seem starkly different, most Americans can gain a greater understanding of the risk of being dropped by their pet insurance company if they compare it to common insurance policies found in the health and automotive industries.
Pet insurance is a globally recognized pet insurance company and like other large insurance companies such as Geico or United Health Group, Pet insurance provides policy conditions that must be met on a contractual basis to maintain services agreed to by the provider. This, therefore, means that an individual’s vulnerability in a pet insurance agreement is drastically reduced as long as the user and provider alike adhere to obligations openly agreed to in the initial contract. In this case, some of the fundamental services offered by Pet insurance are, covering veterinary fees, providing complementary treatment, and ensuring third party liability for your pet. To an individual who does not have pets, these services may seem nonessential, but any dog owner knows that while accidents and health issues for their pet are extremely unfortunate, they are in most cases also inevitable.
In a peer-reviewed article published by PlosGenetics, it was found that roughly two in every five dogs are at risk of gaining health defects stemming from over a hundred and fifty-two different genetic variants. Because of the high risks associated with maintaining the health of man’s best friend, it behooves dog owners and other pet owners to find cost-effective and consistent methods to keep their little loved ones happy and healthy. If an individual wants to avoid being dropped by their pet insurance company, they have to understand the three basic concepts of Period of insurance, Conditions, and Premiums. These are all terms that most adults have familiarized themselves with due to owning cars or even wanting to protect their loved ones and luckily, applying these to your pet is no different or any more cumbersome.
Most pet insurance companies base their period of insurance on a renewable twelve-month model. This makes it convenient to arrange monthly payments based on an individual’s salary and gives the user the flexibility to either keep or change their service provider every year. The next component to understand is the condition of the agreement. These conditions stipulate not only premiums but also the obligations, liabilities, and specific responsibilities between a customer and their insurance provider. Lastly and most importantly are Premiums, which are essentially the broken down monthly payments that must be paid to cover the maintenance of a pet or to be covered in cases of emergency.
Most know that the main advantage of this is having the chance to pay a low monthly fee as opposed to paying the full cost of all unforeseen or routine services for a dog or another pet upfront. With keeping all of these components in mind it is important to recognize that pet insurance companies are not out to get you and your pet, but instead want to ensure financial stability and proper animal care. However, to do so both parties must protect themselves by being highly familiarized with their contractual agreement. At the end of the day, the chances of being randomly dropped or cut by your pet insurance provider are extremely close to zero as long as the user pays keen attention to the period of insurance, conditions associated with the agreement, and the premiums that must be paid. These three factors play a crucial role in maintaining the quality of services as well as providing a road map to a friction less insurance agreement.
Also Read: Pet Insurance: Will It Cover Diabetes?