Learn More About Pet Insurance

Most Americans treat their pets as members of the family. No matter if someone has a fluffy four-legged creature or a slithery reptilian companion, they will demand similar services for their pets as they do for themselves ” and for an every growing number of people, that includes pet insurance.

According to the American Pet Products Manufacturers Association, Americans spent roughly $ 10.1 billion for pet health care in 2007 ” a 40 percent increase from 2006. The insurance industry isn’t ignoring these numbers. Jack Stephens, founder of Pet’s Best Insurance, says that Americans spend roughly $ 250 million annually on pet insurance. That figure is expected to increase to $ 1 billion by 2011, he says. That makes pet insurance one of the fastest growing insurance lines.

These pet insurance plans can be very straightforward or complicated, depending on your needs. While most often taken out on the family dog or cat, they are available for almost all pets and livestock.

Like all insurance plans, you always hope you don’t need the coverage. But often when dealing with pets, the need is sudden. And, if surgery or emergency treatment is needed, the cost can often soar into the thousands of dollars. Even purebred or pedigreed animals aren’t safe from this fact, and they often have more genetic troubles.

The ASPCA has noticed a surge in the number of people contacting their office in recent months. Well meaning owners who simply can no longer afford the often routine vet care that their pets require.

In general, pet health insurance covers veterinary bills arising from injuries and illnesses up to certain limits, as well as third-party liability cover in case an owner becomes liable for damage caused by his or her pet.

In addition, pet insurance policies often cover the cost of advertisements and rewards if a dog or cat goes missing, kennel costs if the owner is hospitalized and the cost of holiday cancellation if a pet requires life-saving surgery.

You must be aware of the terms of each policy though, and not shop purely based on price. This is an important family member, and adequate coverage should be your first goal.

Pet care plans are becoming more and more common, and many people find comfort in knowing that in the event of a major illness, their pets can be properly cared for without seriously affecting their finances.

Making a choice between expensive health care for a pet or ending the life of that animal companion is never easy. Wallace Sife, who as founder of the Association for Pet Loss and Bereavement has counseled hundreds of guilt-racked pet owners, said, “There is no right answer.”

There is no hard and fast advice on what to do when a pet needs emergency care. It does appear, however, that pet insurance is the financial cure, though it may end up making the emotional decision a little easier.

These are the basics behind this issue, and it is important to do your research so you know exactly what you are covered for and how much this will cost. A simple internet search should yield a variety of insurance providers, and you should compare their websites to see which gives you the best deal. Do not just go for the cheapest option – make sure that your pet is covered so that you will be prepared and looked after if anything does go wrong with their health.