Most people insure their cars, homes, valuables, and their health, but often find themselves wondering if they should insure their pet. While not very common, pet insurance has gained popularity, and for a good reason.
In 2014, it is estimated that Americans spent over $2 billion in pet purchases, and $15 billion on veterinarian care. While these expenses may not be true for every pet owner, some pet owners that own high-maintenance or high-value animals, end up spending a lot of money on their pet every year.
For those pet owners looking for a way to save money, all the while protecting their pet, there are a variety of pet insurance policies to choose from.
Health Insurance– Similar to health insurance policies for people, pet health insurance policies include premiums, deductibles, and co-pays. The cost of pet health insurance varies based on the animal’s age, health, and the level of insurance purchased.
Life and Theft Insurance– While this insurance policy is primarily for exotic animals, this coverage will reimburse owners for stolen animals, as well as pay benefits upon the animal’s death. This type of insurance is typically held by zoos and owners of high-value animals, like championship racehorses or police dogs.
Homeowner’s and Renter’s Insurance– Standard homeowner’s and renter’s policies also offer protection for pets and their owners. Depending on your particular situation, you may be able to customize the coverage necessary for your needs.
Liability Protection– In the event that your dog bites someone, liability protection will help protect you and your dog. However, if there is a history of biting, or they are considered a dangerous breed, your policy may have limitations, which may require you to purchase a separate liability policy.
Personal Property– Cages and other accessories for animals can be expensive. Since these items are considered personal property, they may qualify for coverage under your homeowner’s or renter’s policy.
If you have any questions or need help with your insurance policy needs, contact Brazelton Insurance Group today!