I’ve been running this site for quite some time now and from the comments that people have made on the different articles I’ve written I can see that most people are really confused when it comes to what a pet insurance really is.
So what is an insurance really
As I said above it seems like there are a lot of people that thinks that if they pay for a pet insurance for their pet then the insurance company will pay for any damages, injuries or illnesses that their pet will acquire. That is NOT so!
A pet insurance is no different from any other insurance that you can have. What is means is that you pay a premium that will cover specific incidents that will happen. The key is the word “specific” and that is where I find that most people are mistaken. It is far from all possible happenings that will be covered by the insurance and that applies to pet insurance as well.
Pet owners has to realize what an insurance is
If you want to be free of all future bills for VETs, medicine etc. then it’ll likely cost you a little fortune (if not a big fortune) and I’m not even sure that you’ll find an pet insurance company that will take on a policy like that. Some of them have created something called a VIP pet insurance package which will cover more than regular insurance policies but they still won’t cover everything and as a pet owner you need to realize this.
Pet insurance companies run businesses as well and if they pay out more than they get in they’ll go bankrupt. It is a simple as that. That does not mean that they should cheat you out of something that you have paid them to cover (and I know that they’ll try that at times) but you’ll also need realize that even though you want them to pay the bill (because otherwise you’ll have to pay it yourself) then it might not be their obligation to do so.
If they turn you down you might become angry, scream and yell but instead you should rather spend your energy trying to figure out whether they are mistaken in turning your request down. Seek out experts that have nothing to do with the company and pay for their advice.
So even though you would like a VIP pet insurance to cover everything that you could possibly imagine could happen to your pet an insurance policy like that would cost you a fortune and would definitely be a poor investment on your part and you’re not likely to even be able to find a company that would let you sign such a policy.
Keep in mind, not all pet insurance companies are the same. some companies offer coverage with limits placed per year or per illness/incident (some with strict benefit schedules) while others have larger lifetime limits. Some companies will cover 70% of a vet bill, while others may cover 90%. Some have deductibles and others do not. It’s important that pet owners do their research to determine the best coverage and value.
Hi Pet Lady. Pet insurance companies are as you say not created equal and they may work on very different terms. However there can be no question that they are also companies looking to provide a profit to their owners and that this is their top priority.
As a pet owner and buyer of pet insurance plans you need to actually read what you get and ask questions until you feel satisfied. You’re the one running the greatest risk… not the insurance company.