If you’re a pet owner, you already know that our furry friends are more than just pets—they’re family. And just like we protect our loved ones, it’s important to consider how we can protect our pets, too.
That’s where pet insurance comes in.
Your pet’s health is important, but did you know that pets can also play a role in your home and auto insurance policies? In this post, we’ll dive into how pet insurance works, why it’s worth considering, and how your pets might affect your other insurance policies—because keeping your pets safe and covered should be as simple as possible.
What Is Pet Health Insurance?
Pet insurance is like health insurance for your furry companions. It can help cover the cost of vet visits, treatments, and even surgeries when your pet gets sick or injured. Depending on the policy you choose, pet insurance can cover anything from accidents and illnesses to routine wellness care like vaccinations and checkups.
It’s worth noting that pet health insurance is not the same as a vet discount plan, where you pay a monthly fee to your vet in exchange for discounts on services. Vet discount plans are typically much more expensive than insurance plans and aren’t regulated in the same way.
Keep in mind, just like with human health insurance, pet insurance policies have deductibles, co-pays, caps, and may not cover certain pre-existing conditions. There are also different types of pet insurance—some policies cover only emergencies, while others include routine care. You can choose what works best for your budget and your pet’s needs.
In the end, the best pet insurance plan is one you feel comfortable with.
How Does Pet Insurance Work?
At Harry Levine Insurance, we offer pet health insurance through Figo.
Figo offers three types of plans that cover a wide range of medical expenses, including accidents, illnesses, and even some routine care. They’re known for offering easy-to-understand policies and a tech-friendly approach, including an app that helps you manage everything from filing claims to accessing your pet’s medical records.
Here’s how Figo works: once you’ve selected a plan, you pay a monthly premium based on your pet’s age, breed, and where you live. If your pet needs medical attention, you’ll pay the vet directly and then submit the veterinary bill through Figo’s app or website. Figo offers a reimbursement percentage (typically 70%, 80%, or 90%, depending on your plan), minus your annual deductible.
Figo offers customizable coverage with options like:
- Accident and Illness Coverage: Covers everything from broken bones to serious illnesses.
- Wellness Care Add-ons: Routine checkups, vaccinations, and preventive care can be included.
- Unlimited Annual Benefits: With some plans, you won’t have to worry about hitting a coverage limit for the year.
Figo’s app also includes extra perks like 24/7 access to a live vet for those urgent “Is this serious?” moments. It’s a modern and stress-free way to make sure your pet gets the care they need without breaking the bank.
Other pet insurance companies offer either accident only plans or accident and illness plans, but Figo offers accident and illness coverage in all plans.
Pets and Insurance
Pet health insurance isn’t the only insurance policy you should be concerned about as a pet owner. You should also consider how your pets affect your home, renters, and auto insurance as well.
Homeowners/Renters Insurance
Your standard homeowner’s insurance policy likely list exclusions and/or limitations for:
- injury to your pet on your property,
- your pet damaging your own property,
- certain dog breeds,
- dogs with a history of violent or aggressive behavior.
A typical homeowners insurance policy may cover expenses you are liable for in the event your dog injures someone or their property (known as Animal Liability). However, coverage is often subject to restrictions and even sub-limits. Some homeowner policies completely exclude Animal Liability, so you will need the additional policy.
If your homeowners insurance does not cover any animal-related claims, this doesn’t mean you’re on your own. You may have the option to purchase separate Animal Liability Insurance.
Animal Liability Insurance
Animal liability insurance is an addition to your homeowners insurance or a stand-alone policy that helps cover certain expenses if your pet injures someone (or damages their property).
According to the Insurance Information Institute, the average cost of a dog bite claim in Florida is more than $66,000. What’s worse? Many Florida insurers limit animal liability to $25,000. The remaining $41,000 in this example would be purely out of pocket. If your homeowner’s policy limit is not this high (or if you’re not covered at all) you’ll need animal liability coverage to close the gap.
Luckily, most policies are not expensive, costing only about $250-500 a year. That’s well worth the added peace of mind.
No one can truthfully say that their dog will never bite anyone or their cat will never scratch anyone. Even the most mild-mannered dog, cat, gerbil, or other pet can lash out if they feel threatened.
Auto Insurance
Our furry friends are often on the go with us: to the park, the vet, or a weekend away. But what happens if they are injured in a car accident?
Some auto insurance policies cover injury to your pet in the event of an accident caused by another driver. After all, your pet is legally your property, and your auto liability coverage is specifically for damage someone else does to your property.
If you want your pet to be covered in the event that you cause an accident, check with your insurance company to see if they have any plans that cover your pet under your collision coverage (most don’t offer this as a standard). If they tell you that your pets aren’t covered, talk with your independent insurance agent to see how you can get a policy that will.
Theft & Life Insurance
Sometimes your pet is more than a furry companion. In some cases, they’re your livelihood.
If your dog, cat, or horse is a show animal or has a job (in modeling, acting, or with the police force), it’s worth getting theft or life insurance coverage on them.
With this type of coverage, you would get reimbursed in the event your pet is stolen or dies under certain conditions.
Conclusion
We know how much your pets can feel like family, so protecting them against any harm that may come their way is important to you.
Whether you’re looking for health insurance, auto insurance, life insurance, liability insurance, or any other kind of coverage for your four-legged friends, let us know how we can help.
