User:NRC2020UPRC/Pet insurance

Pet insurance offers coverage established by categories that define if the owner of an animal can have economic support for their pets, but this can vary depending on the policy. They are different policies that determine the progress of pet insurance in the industry. In China, for example, pet insurance categories are different from U.S. pet insurance categories.

What is insurance?

Insurances manage to protect the property or a living being from damages or losses. More specifically, property or living being that needs money for immediate coverage when they experiment a loss or damage to the property or directly to the living being.

What is pet insurance?

Pet insurance pays, partly or in total, for veterinary treatment of the insured person's ill or injured pet.  Some policies will pay a type of life insurance when the pet dies or if it gets lost or stolen.  As veterinary medicine is increasingly employing expensive medical techniques and drugs, owners have higher expectations for their pets' health care and standard of living. Therefore, the market for pet insurance has increased.

The owner of an animal decides to pay for a specific type of pet health insurance to protect the animal (if there is proper coverage provided) and give medical attention to their pet or pets.

This image is of the dog Lassie (from the TV show).

History

The history of pet insurance times back to 1890 when Sweden was the first to sign or approve insurance for horses and farm animals. Then, in 1924, Sweden was the first to provide pet insurance to a dog. Later, in 1947, the pet insurance industry expanded to Britain and in 1982 to America's primitive industry based on pet insurances. In 2002 a vast majority of people insured their pets in Britain, allowing the pet insurance numbers to increased even more.

The demand for pet insurances increased after the first policy of pet insurances was sold in the U.S. in 1982 to the dog "Lassie" that participated in a TV show at that time. Just after the first pet insurance got sold in the United States, the market for pet insurance began increasing there.

A cat.

Some categories of insurance

Pet medical insurance:

This category is for giving medical attention to a pet if they are sick(all of this depends on the requirements for the coverage).

Pet liability insurance:

This category of pet liability insurance applies in cases where the pet causes a loss to someone's finances or if the pet bites another pet or person.

This image represents a surgery performed on a cat.

Some pet insurance coverage policies include:

• Hospitalization
• Veterinary fees
• Advertising costs
• The acquisition of pets
• Third-party responsibility
• Payment for treatments from other countries (if a pet is treated in another country)
• Vaccinations
• ID Microchips
• Diagnostic tests
• Acupuncture
• Chiropractic work
• Euthanasia
• Medication
• Others (all of this depends on the selected pet health insurance)

Coverage categories provided by insurers are different, and all of them can vary depending on the territory and location of a person.

Some of those categories include accidents, coverage for property, insurance for death, health coverage, and more. However, the categories of coverage for accidents, property, death, health, and more, do not include pet insurances. When it comes to pet insurances, there are differences within the categories of coverage and the applicants for pet insurance coverages.

Insurances related concepts

The concepts related to insurances are deductibles, co-payments, reimbursement, and expenses. A deductible is when the insurer does not pay a part of a medical procedure, and then the insured must pay what the plan does not cover. A co-payment is when an insured person must pay a pre-establish amount of money after a medical procedure. On the other hand, reimbursement is when the insurer gives the money back to the insured. Lastly, expenses are the amount of money a patient previously spend on medical expenses or health insurance.

Pet insurance in China

The industry of pet insurance in China has different management when it comes to the categories of coverage:

1. “Pet care insurance”:
   • Damages a pet can cause to property but does not include damages to plants or other animals. For this category, a legal dog certificate is required.
2. “Pet liability insurance of public security insurance”:
   • In this category, the pet is the insured. Also, it has some requirements depending on the location of the owner, that allows them have their pets.
3. “Pacific family pet comprehensive insurance”:
   • This category covers expenditures for death, funerals, medical expenses, and the loss of property caused by a pet.

See also

• Pet
• Pet adoption
• Dog
• Cat
• Chihuahua
• Insurance
• Horse
• Guide dog
• Guide horse
• Assistance dog
• Working dog
• Dogs in warfare
• Therapy dog