What Kinds of Pet Insurance Are Available?

There are four basic kinds of pet care insurance (plus one) that you should look into when considering the best protection plan for your pet... and your wallet.

As with humans, the following types of insurance carry different coverages, different prices and a host of considerations when obtaining a policy that best meets your needs and your pet's.

1. Pet life insurance, by definition, should pay for final expenses when your pet dies, such as burial or disposal, and possibly even euthanasia or other veterinary services that may have been needed at the time. End of life costs are typically minimal for most animals and may not warrant an actual insurance policy for those needs alone, unless, of course, the owner finds it in their best business interest to recover costs because they may have more invested in the animal, such as a breeder or show handler might have.

For the average household pet, an owner might want to be sure a life insurance policy will cover what they paid for their pet, plus any final veterinary costs associated with an end-of-life event, such as an injury, illness, or simply old age.

However, don't expect a big check, as would occur with a human policy. You can't buy a million dollar life insurance policy on a cat and become wealthy when it passes on. Your best hope is to recover only true costs, which you will have to prove.

2. Pet health care insurance is the most common kind of pet insurance on the market as it includes the most comprehensive array of services that may be needed during a pet's lifetime. These may include routine health procedures, such as laboratory diagnostic testing, vaccinations, spaying or neutering, health examinations, office visits, and minor repairs for minor injuries.

But it can also include (or might ONLY include) coverages for major expenses, such as surgery for life-threatening, devastating illness or injury. Those are usually the kinds of expenses most owners cannot afford, making cat insurance or dog insurance coverage an essential part of pet ownership.

3. Pet liability insurance is an insurance plan that covers specified damages your pet causes to other animals, people or their property. Sometimes such damages may be included in your homeowner's policy, but it's wise to be sure. It's also important to find out if you're covered in case your pet causes damage on someone else's property, and whether it requires some "performance" from you to be valid.

In other words, if you allow your dog to roam at night and it kills a neighbor's pet, in their yard, you may not be covered, but you will be liable on other legal levels. On the other hand, if your dog escapes your yard and then wreaks havoc and damage elsewhere, you are more likely to be covered if you can prove it was accidental and that you performed required steps to prevent such things. Just be sure you understand the details and requirements of any policy you purchase.

4. Pet travel insurance is generally a temporary policy that is obtained for vacations and other reasons to travel, such as a household move. It will be a limited policy, expiring at a specified time. This type of policy may include such items as transporting your pets if you are moving and can't carry them yourself. If something goes wrong with the carrier service, the plan would pay for trauma care for injuries, or liability damages if they let your animal escape and it went on a terrified rampage, looking for you. They should also provide a "death benefit," in the event that they cause the death of your pet.

Such plans are usually available from the carrier company itself, as part of their own liability protection, and exist only as long as it takes them to complete the transport. But often transportation providers are more concerned with protecting themselves, and their liability provisions may not be as concerned with your pet's well being as with their own. Be sure to inquire about the limits and extent of these plans.

5. Another type of pet insurance that isn't common yet is one provided by a very progressive insurance company, aptly named "Progressive." Their automobile policies automatically include injury or death benefits to any pets riding with you in your automobile should there be an accident. In time, other companies will follow suit and offer similar and competitive plans.

For many people pets are like children, and caring about them and for them includes finding ways to handle emergencies and unforeseen major costs in your quest for pet health care affordability. Pet insurance is becoming common, as it should be, and is worth finding a plan that works for you.

Dr. R.J. Peters is a retired health professional who established a pet rescue shelter in 2002. Learn why pets need insurance, too, at Every Pet Matters.