The definition of an exotic pet varies from insurer to insurer. However, as a common rule of thumb, it will generally refer to any animal that calls for insurance apart from a cat or dog, or possibly a horse (that is normally covered by distinct equine insurance coverage policies). Some other common pets such as a hamster or goldfish will not be classed as exotic pets, but an owner would rarely consider it worth insuring these pets.
What makes an exotic pet insurance policy different?
You’ll find various reasons why the prospective payouts, and thus the premiums, maybe greater with exotic pets. These involve the following:
High-value pets including rare birds or reptiles are potentially at a higher risk of getting stolen. If you have a policy that pays for replacing the pet, the payout will also be larger in these circumstances. It is also a lot more most likely that you will likely be in a position to obtain insurance against a high-value pet dying and acquire payment for replacement costs. It’s ordinarily harder to locate this kind of cover to get a dog or cat as there is a great deal wider disparity between the financial expense of replacing such a pet and the sentimental value the owner locations on their death. Less frequent animals might need much more specialist remedy from vets which could be additional costly. Rarer pets usually need specialist care by owners and some insurers may well take account of the risk that you won’t possess the expertise to provide this. Liability in case your pet injures home or a further particular person may perhaps vary. A dog is possibly additional likely to attack a human, but a further animal may lead to a lot more damage if they do, for instance, if they carry uncommon diseases. How are they the same?
Some issues remain the same with all types of pet insurance cover. A major one is the duration of the policy. Some policies only cover up to a certain financial limit each year, regardless of the claims. Whilst others limit claims for a single condition to a particular time such as a year, meaning you’ll only ever get payouts for a year after diagnosis, even for a long-term condition such as diabetes. Some policies allow the insurer to make an annual decision about renewing or canceling the policy, while others guarantee you can renew every year but may have an upper limit on the pet’s age.
Is it sensible to make use of an exotic pet insurance provider?
You can find some superior causes to consider a specialist firm. They might have the ability to offer better premiums as they have a clearer understanding of the risks and possible payouts involved using a wide range of exotic pets. A specialist may also have a better understanding of the claims process and may even be able to help with finding a vet who is particularly qualified for your pet. However, these advantages shouldn’t deter you from checking with more general insurers to see if you can get the best value for the money.