The purpose of exotic pet insurance is to be sure that the health needs of an exotic animal will be met, without placing financial stress on the owner. In many instances, exotic pets tend to be more susceptible to illness and some breeds are considered to be more fragile, health-wise, as opposed to the more typical types of household pets.
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 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 mammal 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.
One of the common misconceptions about exotic pet insurance is that it only covers health related costs, such as veterinarian fees and prescriptions. However, most of the insurance policies for exotic animal coverage will provide for many additional benefits as well. Much of what is covered will depend on the type of coverage you choose and the cost of such coverage and how it fits within your own budget constraints.
Of course, the primary benefit of all animal cover 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, cover 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 cover 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 mammal, 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 animal and some will even cover the needed vaccinations that were required. Of course, such coverage can not 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.
Most of the policies for exotic pet insurance coverage are written either for a one year period or are written as a lifetime policy. In general, a yearly pet plan is more budget friendly but it can also be riskier. There is added risk because they often provide lower coverage limits and there is also the potential that the pet insurance company could decide not to renew coverage, based on developing health problems with the animal or because of advanced age.