pet insurance news

Pet insurance bill in California could provide industry with regulation

A new bill in front of the legislature in the state would help to tell customers exactly what coverage they have.

Should a new bill that is currently before the California legislature pass, it will mean that pet insurance companies will be required to provide greater disclosure to their customers regarding what precisely will be covered by the policies that they have sold.

This type of insurance policy is becoming increasingly popular but there has yet to be an industry coverage standard.

Many dog and cat owners are finding that there is a growing appeal to pet insurance, as the cost of taking their beloved furry family members to the veterinarian has been rising rapidly. In order to make sure that owners will be able to afford the best health care for their animals – especially when it comes to unforeseen treatments – they are looking to coverage a great deal more. However, every company has their own terms and regulations in terms of coverage.

Should the bill pass, it could make it much easier for consumers to understand their pet insurance coverage.

pet insuranceThe author of AB 2056, Assemblyman Matt Dababneh, has explained that there isn’t very much oversight in the pet health insurance industry, despite the fact that it has been experiencing rapid growth. He said that “It really helps pet owners choose the most appropriate for their needs, to really know what their insurance covers and what it doesn’t cover.” He also added that “So when they’re at the vet they know what they’re facing.”

If the bill passes, it will require insurance companies to inform customers right away if there are treatments or procedures that will be covered by the policies that they have purchased – or that they are considering for purchase. Furthermore, it would provide consumers with thirty days following the purchase of their policy in which they can look it over, and return it for a complete refund if they determine that it will not meet their needs or expectations.

The pet insurance bill has already passed within the California Assembly. It is expected that the full Senate will soon be casting their votes on the matter.

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