What is pet insurance?
Pet insurance helps pay for your pet's unexpected veterinary care.
As pet owners, we want to provide our dogs and cats with the best possible health care, no matter what. But when accidents and illnesses come up unexpectedly, the costs can quickly run in to the hundreds, and even thousands, of dollars.
Pet medical insurance helps you pay your unexpected veterinary bills, so if your pet has an accident or becomes ill, you’ve got help covering the costs. With pet insurance you can follow your veterinarian’s recommended course of treatment knowing that your pet health insurance will help provide you with financial peace of mind.
Every pet owner wants to keep their pet healthy and happy. That's why regular vet visits and giving pets the health care they need in case of accident and illness is so important. Pet insurance can provide pet owners with financial support that can be used towards professional veterinary care, some related medical costs and benefits that help you deal with unexpected costs (and sometimes the preventive costs, too) of care.
Regardless of your income or financial situation, if you're like most
pet owners, you may not be setting aside the funds to provide veterinary
medical care for your pet in the event of illness or an emergency.
Today, like with human healthcare, the veterinary medical profession continues to advance and can treat virtually any condition or injury that a pet may incur throughout their lifetime - provided they receive the required treatment early or quickly enough, and as long as the pet owner has the financial means to cover the real cost of care.
Pet health insurance is a useful financial tool that:
• Protects you and your finances against unexpected medical costs.
• Ensures veterinarians can provide your pet with optimal care and the most advanced veterinary medical treatments.
• Prevents pet owners from having to make a financial decision to end a pet's life due to their inability to pay for the needed treatments.
• Ensures a pet owner does not need to hesitate before taking a pet for veterinary treatment, or wait until a condition worsens. • Provides a plan for the costs of routine and even preventive care, if you have Pet Wellness Care coverage.
• Assists you in helping your pet to live a healthier and sometimes longer life.
Understanding pet insurance coverage:
With other kinds of insurance, years may pass without you ever having to make a claim. Pet insurance is designed to be used. Unfortunately, experience has shown that it is likely that your pet will become ill or injured and need medical care, and as they age these risks only increase.
The earlier you purchase pet insurance the better it is. If you're fortunate enough to have a healthy pet and you rarely need to claim, it doesn't necessarily mean you don't need coverage. Research has shown that up to 90% of veterinary expenses can happen in the last 10% of your pet's life. Like with human insurance, the earlier (and younger) you enroll your pet for coverage, the lower your premiums and deductibles will be, and the more likely it is that your pet will not have any pre-existing conditions that will be excluded from coverage.
The cost of pet insurance coverage for all pets is decided the same way. There are three factors to consider: 1) the species/breed of your pet; 2) its age at the time of enrolment; and 3) where you live in Japan. These three factors help underwrite (calculate the cost and risks) every cat and dog.
As with many things in life, with pet insurance, you get what you pay for. Paying a higher premium affords you a higher level of coverage (and higher payouts or "benefits").
Knowing what to expect from pet insurance:
• When you look for coverage, make sure that you know exactly what your pet is covered for - and what exclusions apply.
• Carefully consider what level of coverage you think you might require for your pet, and what you can afford.
• Some pet insurance companies in offer variable deductibles that will decrease or increase premiums.
• All pet insurance companies should post their coverage features on their website, or have them available by mail.
• Once you've made your decision and signed-up for a policy, familiarize yourself with what's included by reading through the terms and conditions. Some insurance companies now offer coverage for services such as alternative treatments or travel.
If you're thinking about getting pet insurance, you've already taken the right step in taking good care of your pet. Research your options, talk to your veterinary clinic staff and arm yourself with the information you need to make the right choice.