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You’ve heard of car insurance, health insurance, house insurance, the list goes on and on. Not to mention those boring insurance ads on TV! In all seriousness though, insurance is a sound investment for many people in many situations because it covers you financially when serious trouble strikes in your life. What you many not realise is that this can also apply to owning pets. Pet insurance is definitely not for everyone however, here are some things you may need to know before you make the decision.

What is Pet Insurance?

Pet insurance is essentially health insurance for your pet, and is similar in a lot of ways to health insurance for you and your family. Things like accidents and illness can be covered, so if these unfortunate scenarios happen to you and your pet, the financial costs of treatment and recovery are paid for by your insurance. Pet insurance premiums are the ongoing costs associated with an insurance policy, and can be paid monthly or yearly (like normal insurance). This small cost can mean that you are not struggling to pay a massive vet bill and/or expensive medication in the event of an accident. This may even mean the difference between life and death for your pet, as you may even have to put your pet down if you simply can’t afford the bill.

What Pet Insurance Covers

Pet insurance, similar to health insurance for humans, can cover different things specific to each policy. They are generally categorised according to level of cover – simply put, the higher premiums you pay as the ongoing cost of maintaining the policy means more comprehensive cover which covers more expensive things. It is important to look carefully at what is covered and how much you can afford to pay in terms of premiums. For example, some policies cover accidents only, while others cover illness only. Others still cover both, but tend to be more expensive.

Another important thing to note is that most insurance policies will include some form of exclusions, and these tend to be very specific and carefully worded. It is important for you to look at these and choose the most appropriate policy for your budget and for your pet.