Pet insurers have released the most important information that owners should know about insuring their animals, including an understanding of the types of things that are found within the exclusions and fine print of the most typical policies.
They include the following on Pet Insurance policies:
- If the pet has a pre-existing condition, this will not be covered by the policy, regardless of whether or not you were aware of its existence.
- If the policy is “time limited”, then upon the completion of the term, no more payouts will be sent to you, regardless of whether your pet has contracted a condition that is ongoing. Should you renew your policy, that condition will be considered pre-existing.
- If the policy is “lifetime”, it can be renewed on a yearly basis and will not be restricted to a certain number of permitted claims.
- In order to ensure the lowest premiums, it is advisable to begin coverage for your pet at the youngest possible age. To cover an older animal, it may be necessary for you to pay a portion of each of your claims in addition to the excess.
- Pets should receive a general veterinary checkup before a policy is taken out. If a condition is discovered during this checkup and it is believed to be congenital (from the time of the pet’s birth) or hereditary (genetic) then it will not typically be covered by your policy.
- Read any fine print on the policy in order to become familiar with any unusual stipulations. You may discover that, for example, your coverage does not extend to other locations when you are travelling.
- Any overlooked actions that could have been taken and that are considered to be “common sense”, may void your pet insurance policy. For example, if someone steals your cat, you must report it right away.