But as the costs of major surgeries and treatments for animals have grown over the years, and as pets have become more and more recognized as part of the family, more “ordinary” household pets have begun to be insured instead of just the stars.
What Does Pet Insurance Do?
Today, you can customize your pet insurance policy to a greater degree than ever before.
It can pay in full or only in part for a wide array of possible ailments and accidental injuries that might befall your precious pet. It can pay when a pet dies or is permanently lost or stolen. It can cover regular check ups, or only major operations (emergency insurance) It all depends on what you want. Pet insurance works basically the same way as human health insurance, but with a few key differences.
Key Milestones in the History of Pet Insurance
The history of pet insurance really begins back in 1890, when Claes Virgin invented it. but at the time, it was mostly for horses, cattle, and livestock. It was like a special kind of farm insurance.
The beginning of “true pet insurance” came in 1924 in Sweden, when a policy was created for a dog. The idea soon caught fire in Sweden, but it took 22 years for it to spread to Britain (in 1947) and 35 more years to reach America (in 1982 with Lassie.)
Both dogs and cats were insurable in the US in 1997, with the founding of the Hartville Group “Pethealth Care Plan.” By 2005, a half a million US pets had been insured, to one extent or another. And the industry continues to grow.
One last important milestone is the 2007 founding of NAPHIA (North American Pet Health Insurance Association), which has worked ever since to create and enforce high “pet health ethics,” a uniform pet insurance lingo, and generally high standards of quality in the industry.
Is Pet Insurance Worth It?
Pet insurance is like any other kind of insurance in that it involves mitigating potential risks by paying a monthly premium.
The chances of your ultimately paying less or more than if you hadn’t had an insurance depends on numerous factors, such as the age, state of health, and breed of your dog or cat. it will also vary based on which insurer you choose, where you live, and what kind of a copay and exclusions your policy has.
For many pet insurance is well worthwhile because it guards against excessive veterinary expenses suddenly popping up that could be unaffordable, and thus, endanger the life or long term health of a beloved pet.
To learn more about how pet insurance works and whether or not it’s right for you, or for a free no obligation quote, contact Flagler County Insurance Agency today!