Like human life insurance, pet life insurance provides a death benefit to the policyholder upon the passing of the insured dog, cat, or other pet. The average cost of pet life insurance is between $250 and $900 per year, and if you have questions about your pet insurance policy, including the claims process or payouts, you should contact your insurance company directly.<\/p>
Most dog and cat owners do not need pet life insurance, which is also called mortality and theft insurance. They only need it for highly valued pets, breeding dogs, racehorses, or show dogs. <\/p>
There are two primary types of pet insurance policies: full mortality, which pays out if your pet dies for any reason, and limited mortality, which only pays out if your pet dies because of an insured event, like a natural disaster.<\/p>
Insurers only offer this coverage for pets that are valuable to their policyholders in some way, such as a police dog that provides a necessary service and would be expensive to replace.<\/p>
No matter what happens to your pet, a full mortality and theft policy will compensate you for its loss. Theft insurance is generally included.<\/p>
It is important to read the fine print of any insurance policy you are considering purchasing, but it’s not uncommon for “limited mortality” policies to cover the loss of an insured animal only if it is the result of one of the specified causes of death (or “peril”), such as those listed below.<\/p>
A policy with limited mortality may allow you to include additional “perils<\/a>” like:<\/p> Any cause of death not specifically covered by the policy is not considered “limited mortality.” A common exclusion is coverage for deaths caused by illness. In most cases, insurance will not pay out if the policyholder dies of old age or a naturally occurring illness.<\/p> Dog life insurance, also known as mortality and theft insurance, compensates the dog’s owner for the loss of a companion animal, replaces lost income, and pays for burial expenses. In legal terms, your dog is considered personal property; however, renters<\/a>‘ or homeowners’ insurance typically does not cover the value of pets. Life insurance for pets functions in much the same way as it does for humans. If the animal passes away, the life insurance will provide a death benefit. In most cases, the money is used to cover the costs of the pet’s cremation or funeral, or it is used to make up for lost income. Pet insurance policies typically cover theft.<\/p> Several factors, including the animal’s species, breed, and age, affect the final cost of a life insurance policy for a pet. The cost of a pet’s life insurance policy can range widely, just like that of any other type of insurance. The age, breed, and species of the pet matter greatly. It costs more to insure an older pet, and some insurers will not cover pets with serious health problems at all.<\/p>What does Pet Life Insurance not Cover?<\/span><\/h2>
Pet Life Insurance Limitations<\/span><\/h2>
How does Pet Life Insurance Work?<\/span><\/h2>
Pet Life Insurance Cost<\/span><\/h2>