What is pet insurance?
Pet insurance is one of the preparations for living a safe life with your pet. When welcoming your pet as a new family member, consider getting pet insurance as well as preparing living items such as cages, toilets, and pet food. We will introduce what kind of insurance is pet insurance in an easy-to-understand manner.
Also, pet insurance is an insurance product that generally covers part of the treatment costs for pets such as hospital visits, hospitalization, and surgery.
We humans have a public system called health insurance. Therefore, if you receive medical treatment for illness or injury at the hospital, you will be responsible for about 10% to 30% of the medical expenses you pay. However, pets do not have public insurance and the owner must bear the full cost of treatment. Depending on the type of treatment and the length of the hospital visits, high costs may be incurred.
In order for your pet to stay healthy, you need to choose and purchase pet insurance yourself.
Features of pet insurance, points of how to choose
There are many types of pet insurance, and some owners may find it difficult to choose…
However, the variety means that you can choose the insurance that suits your pet best.
The breed and age of your pet, the illnesses you are likely to get, and the injuries you should be aware of vary. How to choose pet insurance depends on what kind of illness or injury you will be compensated for, when you should join it, how to claim insurance, and other points you place importance on.
Pets cannot verbally convey physical abnormalities. Therefore, it is important what the owner knows about pets. Knowing the illnesses, injuries, and characteristics of the breed will be useful for your future life and for choosing pet insurance.
What will you compensate?
Pet insurance generally covers the cost of hospital visits, hospitalizations, and surgery. Some plans even cover these treatment costs, while others specialize in hospitalization and surgery only.
In addition, the insurance can be further enhanced by special contracts. So, the kind of special contracts each insurance company handles is also a point of insurance selection.
However, there are some items that are not covered, such as injuries and illnesses. Treatments for healthy bodies such as contraceptive castration, prevention, and tartar removal might also not be covered. Not all costs at a veterinary clinic are covered, so check the websites and pamphlets of each insurance company for insurance claims not paid.
There may be an age limit for enrollment
The timing of taking out pet insurance is also important. There is a limit to the age at which new members can join. The maximum age varies depending on the insurance company, but as a guide, it is a good idea to think of dogs and cats as being 7 years old or older when they reach their senior years.
In addition to the age limit, if your pet has a history of illness or injury before joining, you may not be able to join. Even if you can join, compensation may be limited. If your pet grows older and you think you should buy it soon, the pet insurance that can be taken out may be limited; so, collect information from when your pet is young and healthy.
Regular Insurance review
Pet insurance is classified as non-life insurance, and the insurance period is renewed annually. At the time of renewal, the compensation contents may be changed or the renewal may be examined for the next year’s contract. The conditions of the examination and the contents determined by the examination differ depending on the insurance company.
In addition, in the case of pet insurance, which has a limited age for renewal, the contract cannot be renewed for the next fiscal year when the specified age is reached. In addition, the coverage and plan may change depending on the age at the time of renewal; so, be sure to review your insurance regularly even after joining.
Get veterinarian advice
It is safe to have a family doctor while your pet is healthy. Not only will it give you an idea of your pet’s current health status, but it will also give you advice on illnesses that are likely to occur depending on the type of pet, which will be helpful when choosing pet insurance.
How to claim insurance?
Insurance claims, conditions, and methods also vary by an insurance company. Pets can be anxious and impatient for their owners but don’t panic and give top priority to a veterinary clinic. There is a high possibility that you will be overwhelmed by the condition and treatment of your pet on the day, so be sure to check in advance about the conditions for receiving compensation for treatment costs and how to claim insurance.
Conditions for claiming insurance
Pet insurance may or may not have a limit on the number of times or days you can claim for your pet insurance in a year. If you exceed the maximum number of insurance claims or the number of days you can claim, you may not be able to claim within the insurance period, or even if you can claim, the premium for the next year’s contract may be increased.
In addition, the amount of compensation for one-time or daily insurance claims may also have a deductible amount or limit. The conditions for claiming insurance vary depending on the insurance company, such as the fact that you cannot claim insurance unless the amount of treatment you claim is above a certain amount or that treatment costs above the fixed upper limit are not covered by insurance.
There is also a limit on the amount of insurance that can be paid in one year, so even if the total amount of insurance reaches the one-year limit set by each insurance company, you will not be able to claim until the next fiscal year.
Settlement at a later date and settlement at the counter
The main method of getting insurance claims is to settle at a later date, but there are also pet insurances that can be settled at the counter.
Settlement at a later date is a method of paying the full amount of the treatment fee at the veterinary hospital window, then preparing the necessary documents such as receipts, medical statements, and insurance claims, and making a direct claim to the insurance company. The insurance money will be transferred to the specified account within a few days to a month.
On the other hand, at the counter settlement, if you show the documents and cards issued by each insurance company as proof of insurance participation at the counter of the veterinary hospital, the insurance will be applied on the spot and you will pay the treatment cost excluding the insurance money for the compensation ratio.