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 …