Learn Exotic Pet Insurance Facts

Learn Exotic Pet Insurance Facts
by Mark Gittelman

The reason that people seek exotic pet insurance is to be sure that the health and welfare of any exotic animals owned by individuals will be covered, as well as to avoid putting extra financial burdens on the owner. One of the reasons that such coverage is even more important for exotic animals, is that many species are more susceptible to more types of illnesses than the more common, domestic breeds.

The care for exotic pets is also more expensive, as some of these animals require a veterinarian with specialized knowledge and skills in order to properly care for the them. This is one reason why many owners of such animals seek out insurance. Some have even declared that they would never again be without such coverage because of the amount of money that they have saved due to unexpected veterinary pet bills.

Recent studies have reported that approximately 40% of all reptile owners have needed to take their pet in for an unplanned veterinarian visit at some point during the previous two years. The study went on to report that over one third of these cases ended up requiring three or more veterinary office visits during that same time frame. This is just one example of how pet insurance for exotic creatures is very beneficial, because for some people, such a level of care would not be affordable.

Many people think that exotic pet insurance is only meant to cover expenses related to veterinarian care and other health related expenses for an exotic animal. However, there are many coverage options that can be added to a policy that will cover much more that just the vet bills. The scope of the coverage is generally decided by the owner and is based on the needs and circumstances that need to be covered.

Of course, the primary benefit of all pet insurance is the pet health insurance aspect. This is the part of the coverage that will pay for veterinary pet visits, vaccinations, health screenings, yearly checkups and booster shots as needed. Some of the policies will completely cover all of these costs. Other types of policies will only cover emergency types of care, such as surgery due to an accident. Some policies require you to make a minimum co-payment for each veterinary visit, while others fully cover such costs. Each of these variations, in addition to an annual deductible, will affect the cost of the insurance premium that you'll pay.

In addition to covering veterinary expenses, insurance policies for an exotic creature can also cover thievery, in case it is stolen. If you own a very valuable exotic pet, it is strongly advised by experts that you carry this type of insurance in addition to the pet health insurance coverage. You will want to be sure that the policy you choose provides for sufficient replacement coverage in the event of a theft.

Insurance can also provide coverage in the event of death of the exotic animals because of fire, natural disaster, accident, injury or illness. For owners who have invested a great deal of money in acquiring an out-of-the-ordinary kind of pet, this type of pet plan can help to offset the cost of replacement. Most policies will cover the value of the purchase price of the pet and some will even cover the needed vaccinations that were required. Of course, such coverage cannot compensate for the value of the relationship that has been developed with the beloved exotic creature, but it can minimize the financial impact of such a loss.

In general, exotic pet insurance policies are available to purchase either as a yearly premium or as a lifetime policy. Typically, the one year policies carry lower limits for claims and can be a risky option since the issuing pet insurance company may choose not to continue coverage when the animal reaches a certain age or develops health conditions.