What To Take Into Account When Purchasing Pet Insurance
One of the most frequently asked questions by animal owners regarding pet insurance is when is it necessary or beneficial to purchase it. Also, as there are different types of policies and coverages, many homeowners feel ‘confused’ when it comes to insuring their best friend.
Thinking about it, below we will analyze why it is important to have insurance for your pet, and when it is mandatory to hire it to guarantee responsible ownership.
Why buy pet insurance?
Pet insurance works in a similar way to human health insurance. Its main objective is to protect us and our animals against possible accidents, unforeseen events, illnesses or day-to-day misfortunes. This includes possible physical or material damage that our pets may cause to other people.
In this way, the main advantage of taking out insurance for your pet is to be protected in these unpredictable situations. Although hiring means adding a new expense to your monthly budget, it is usually a fairly inexpensive investment, if we compare it with the expenses that must be faced in case of accidents.
Theoretically, these insurances are aimed at any pet. But the vast majority of insurers only offer coverage for dogs and cats.
Potentially dangerous dog insurance
When you own a breed of dog considered potentially dangerous (PPP), insurance is no longer optional, but mandatory. In Spain, Law 50/1999 of December 23, developed through Royal Decree 287/2002, makes it mandatory to obtain an administrative license for the possession of potentially dangerous animals.
To request said license and renew it every five years, as determined by the aforementioned law, it is necessary to meet some requirements. One of them is the contracting of civil liability insurance for damages to third parties, whose minimum coverage must be greater than or equal to 120,000 euros.
Failure to comply with any conditions for the possession of potentially dangerous animals can lead to legal sanctions and fines to the owner. It should be noted that the owner must answer for the behavior of his pet, even when he is not present at the time of the damage or accident.
In some municipalities it is also compulsory to take out insurance when the animal weighs more than 20 kilos. Therefore, it is important to consult the specific responsible ownership legislation in your place of residence before adopting a new pet.
How to choose the best pet insurance?
Like almost everything in life, the ‘best’ insurance will be the one that meets your needs and expectations. In other words, there is no insurance that is the most recommended in all cases, but the most appropriate coverage will be the one that best suits your reality.
Likewise, we want to give you some tips that will be useful when choosing pet insurance.
Compare the coverages before hiring
Insurers often make different types of pet insurance available to customers. Ideally, take the time to read the details of each coverage before deciding on insurance. Good basic coverage should include the following:
- Civil liability in case of damage to third parties and their properties.
- Loss or theft of the pet: some companies include a search service for the animal in case of loss.
- Death resulting from accidents.
- Assisted euthanasia in case of terminal illness or accident with irreversible damage.
- 24 hour telephone assistance.
Likewise, it is also possible to contract ‘all risk’ insurance that offers a wide range of services, which gives more security to the owners. To be considered comprehensive coverage, it must include:
- Complete veterinary assistance, even preventive.
- Hospitalization or assisted rest in case of surgeries or illnesses.
- Help with the expenses with the burial or cremation of the animal.
Evaluate the cost-benefit of insurance
When hiring pet insurance, logically, a new expense will be incorporated into your budget. The value of the insurance will be proportional to the services included in the chosen coverage.
In Spain, a basic coverage implies an average annual cost of 70 or 80 euros, while a comprehensive health and civil liability insurance can exceed 100 euros per year. Likewise, as more and more companies offer pet insurance, it is possible to access good discounts, especially for the first year of hiring.
