A.M. Best's Consumer Insurance Information Center

Pet Insurance

What it protects against

The financial consequences of obtaining health care for dogs, cats and other pets.

How it works

After you pay an annual deductible or a per-incident deductible, the insurer will reimbuse you for a percentage of medical bills, usually around 80%, up to an annual cap. Pet insurance covers accident and illness, even cancer. The insurer will likely check into your pet's health history before issuing a policy. Most insurance allows you to use any accredited veterinarian.

Who needs it

Pet owners who want to avoid denying treatment to their animals because of financial concerns.

Who may not need it

Anyone affluent enough to self-insure.

When to buy it

Since pet policies are individually underwritten, they are best bought when the animal is young or has no health problems.

How you pay for it

Periodic premiums.

Terms to Know

Congenital and Hereditary Disorders (View Definition Hide Definition)

Disorders present at birth (congenital) or passed on from parent to offspring (hereditary). Some pet insurance covers these disorders, which are likely to be first noticed when the pet is young.

Pre-Existing Condition (View Definition Hide Definition)

A coverage limitation included in many health policies which states that certain physical or mental conditions, either previously diagnosed or which would normally be expected to require treatment prior to issue, will not be covered under the new policy for a specified period of time.

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