Cheap Pet Insurance Coverage - California Passes Pet Insurance Reform

The California State Assembly passed a Pet Insurance Reform Bill at the end of August 2010. The Pet Insurance Reform bill makes it mandatory for companies providing cheap pet insurance to provide information regarding coverage limits on their websites. Pet owners who buy pet insurance plans often are not aware of any exclusions or limitations that their pet insurance plans may have. This bill seeks to rectify this by giving owners of pet animals the ability to make more informed choices when selecting cheap pet insurance.

From the first animal insurance policy created in 1890 by Claes Virgin for horses and livestock, to today’s comprehensive pet insurance policies for beloved household pets, the pet insurance industry has made a long journey. According to the National Pet Owners Survey 2009/10, 71.4 million homes in the United States own pets. Of these, 45.6 million households alone own pet dogs. Health insurance companies have tapped this market for veterinary care by offering comprehensive and cheap pet insurance plans. The Pet Insurance Reform bill passed by the California Assembly, pending approval from the Governor, seeks to regulate the pet insurance industry, pushing for more transparency.

Why Insure Pet Animals

People subscribe to health insurance plans to cover the costs of periodic medical treatment and to reduce medical expenses. In the same way, pet owners can opt for cheap pet insurance policies to lower costs when taking their dogs or cats to pet hospitals and cover for any veterinary medicine treatment. In 2009, Americans spent $12.04 billion in veterinary care for their pets.

Some veterinary medicine procedures for pets may include:

Vaccination for pets – Rabies vaccination is mandatory for all pets in the United States. Periodic vaccination may also be required for other conditions depending on the type of pet.
Spaying or Neutering pet animals – Pet animals need to be neutered to control animal overpopulation, reduce the risk of diseases such as animal mammarian and uterine cancer and to control hormone-induced behavior in pets.
Emergency veterinary medicine – Pets may need to be rushed to pet hospitals for emergency treatment if they have swallowed some poisonous substance, in the case of accidents and other sources of injuries.

Subscribing to cheap pet insurance plans can significantly lower veterinary medicine expenditure for pet owners.

How does Cheap Pet Insurance Work?

Pet insurance differs from human health insurance in some aspects. Pet insurance plans typically reimburse any veterinary medicine expenses incurred by a pet owner.

Some steps involved in the pet insurance process are:

Select cheap pet insurance plan provider – Pet owners can compare cheap pet insurance plans offered by various pet insurance companies to get the best deal. It is important to note the terms of coverage such as age limits for pets and the range of procedures covered. Choose pet insurance plans underwritten by reputed health insurance providers.
Purchase a pet insurance policy and make payments – Pet insurance plans typically involve monthly payments. There may also be payroll deduction plans where the monthly fee or premium is deducted from the salary of the pet owner.
Visit a pet hospital or veterinarian - When the need arises for treatment of a pet, any veterinarian or pet hospital can be visited. The pet owner will have to pay the costs incurred during the time of treatment.
File claim for reimbursement – After the veterinary treatment for pets, the owner can file a claim for reimbursement with the pet insurance plan provider. After the pet insurance company approves the claim, reimbursements are sent to the pet owner, covering the costs of the treatment. Reimbursement percentage may depend on the plan chosen by the pet owner.

Compare Cheap Pet Insurance Companies

Pet insurance cheap plans offered by various companies should be evaluated according to a number of factors before making a purchase.

Some aspects of a pet insurance cheap plan that pet owners should consider are:

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Coverage conditions – Some pet insurance plans impose coverage conditions based on age of pet such as a cat or dog, and presence of hereditary medical conditions in pets. Pet insurance companies may totally exclude health insurance coverage for such pets or may severely limit the extent of medical treatment which can be availed by such pets.
Annual Limits - Pet owners should check the annual limits on claims in the pet insurance plan they are considering. Pet owners should also see if the plan has a maximum benefits policy. A pet insurance policy, which will pay only upto a certain amount per condition or illness during the life of the pet, is a maximum benefits policy.
Reliability – When pet owners compare cheap pet insurance companies and their plans, they should not only opt for companies offering low premiums, but ensure that low premium is balanced by reliability. Make sure that the company providing pet insurance cheap is reputed.

What Is Pet Insurance?

Should You Insure Your Pets?

What Is Pet Liability Insurance And Who Needs It?

How To Find The Right Pet Insurance

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