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Home > General > What is Voluntary Excess Pet Insurance & How Does It Work? 2024 Guide

What is Voluntary Excess Pet Insurance & How Does It Work? 2024 Guide

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If you’re like most pet owners, you want to do everything possible to protect your furry friend. That’s why pet insurance is so important. But what if you could take things one step further and protect your pet with voluntary excess pet insurance? In this blog post, we will discuss what voluntary excess pet insurance is and how it works. We’ll also provide tips on how to choose the right policy for your needs.

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About Voluntary Excess Pet Insurance

Voluntary excess pet insurance is an insurance policy that provides coverage above and beyond the standard pet insurance policy. It is designed to protect pet owners in the event of an unexpected medical emergency or accident.

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What Is It Used For?

Voluntary excess pet insurance can be used to cover the deductible on your standard pet insurance policy, or it can be purchased as a standalone policy. It is important to note that voluntary excess pet insurance is not required by law, but it can be a wise investment for pet owners.

How Does It Work?

Voluntary excess pet insurance works by reimbursing you for the out-of-pocket expenses associated with your pet’s medical care. This includes things like vet bills, prescriptions, and other related costs your pet insurance policy didn’t cover.

So It’s Basically a Back-up Plan?

Yes, you could say that. Voluntary excess pet insurance is there to provide peace of mind in the event of an unexpected medical emergency. It’s important to remember, however, that voluntary excess pet insurance is not a replacement for comprehensive pet insurance.

If you are looking for the voluntary excess pet insurance, we recommend looking at a few different companies to compare policies and find the one that best fits your needs.

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What Are the Benefits?

There are many benefits to voluntary excess pet insurance, including peace of mind and financial protection. This type of insurance can also be used to supplement your existing pet insurance policy, providing additional coverage for unexpected medical emergencies.

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What Can’t It Be Used For?

Voluntary excess pet insurance cannot be used to cover the cost of routine care, such as wellness exams, vaccinations, or preventive care. It is also important to note that this type of insurance does not replace your standard pet insurance policy.

Does It Cover Legal Fees?

No, voluntary excess pet insurance does not cover legal fees. If your pet injures someone or destroys private property, you will still be responsible for any resulting legal fees.

How Much Does Voluntary Excess Pet Insurance Cost?

The cost of voluntary excess pet insurance varies depending on the policy and the coverage you select. However, it is typically much less expensive than purchasing a standalone pet insurance policy.

divider-dog paw How to Choose the Right Policy

There are a few things you’ll want to keep in mind when choosing a voluntary excess pet insurance policy.

Level of Coverage

First, you’ll need to decide how much coverage you need. This will be based on factors like the size of your pet, their health history, and your budget.

Deductible

You’ll also want to consider the deductible. This is the amount you’ll need to pay out of pocket before your insurance policy kicks in. The higher the deductible, the lower your premium will be.

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Type of Coverage

Finally, make sure to read the fine print and understand what is covered by your policy. Some policies have exclusions or limits on coverage, so you’ll want to be aware of these before you purchase a policy.

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How Do I Know If Voluntary Excess Pet Insurance Is Right For Me?

Voluntary excess pet insurance is a great way to protect your pet and your finances. If you’re looking for an affordable way to supplement your existing pet insurance policy, or if you don’t have pet insurance at all, voluntary excess pet insurance is worth considering.

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Types of Coverage

There are two types of voluntary excess pet insurance: per incident and annual. Per incident policies cover a single event, such as an accident or illness. Annual policies provide coverage for all incidents that occur during the policy period.

The Difference Between Voluntary Excess Pet Insurance and Standard Pet Insurance

Voluntary excess pet insurance is an optional, supplemental insurance policy. Let’s look at some of the most important differences between the two.

Legal Requirements

The main difference between voluntary excess pet insurance and standard pet insurance is that voluntary excess pet insurance is not required by law. Standard pet insurance, on the other hand, is typically mandatory in most states.

Deductible

Another difference is that voluntary excess pet insurance typically has a lower deductible than standard pet insurance. This means that you’ll pay less out of pocket if your pet needs medical care.

Level of Coverage

Finally, voluntary excess pet insurance policies often have more generous coverage limits than standard pet insurance policies. This means that you’ll have more financial protection if your pet needs expensive medical treatment.

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Tips For Getting The Most From Your Coverage

Here are a few tips to help you get the most from your voluntary excess pet insurance policy:

  • Review your policy regularly and make sure you understand the coverage.
  • Keep up with preventive care and routine vet visits. This will help you avoid costly accidents and illnesses down the road.
  • Make sure to compare quotes from multiple insurers before you purchase a policy.
  • Read the fine print and understand the exclusions and limitations of your coverage.
  • Work with an insurance specialist to see how you can maximize your benefits. You could potentially save hundreds of dollars per year.
  • Pay your premium annually. This could save you up to 20% on your premium.
  • Choose a high deductible. This will lower your premium, but make sure you can afford the out-of-pocket costs if you need to use your policy.
  • Bundle your pet insurance with other types of insurance, such as homeowners or auto insurance. This could save you money on your premium.
  • Get a quote from multiple insurers and compare rates. This will help you find the most affordable policy for your needs.

By following these tips, you can be sure that you’re getting the most from your voluntary excess pet insurance policy.

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Pros & Cons of Voluntary Excess Pet Insurance

Like any insurance policy, there are pros and cons to voluntary excess pet insurance.

Pros
  • Can be used to supplement your existing pet insurance policy
  • Provides financial protection in the event of an accident or medical emergency
  • Gives you peace of mind knowing your pet is protected
Cons
  • May not cover everything
  • Can be expensive
  • Policies can have exclusions or limits on coverage

At the end of the day, only you can decide if voluntary excess pet insurance is right for you and your pet. But we hope this blog post has given you a better understanding of what it is and how it works.

Can Landlords Require Voluntary Excess Pet Insurance?

Yes, landlords can require voluntary excess pet insurance as a condition of renting. This is typically done to protect the property from damage caused by pets.

The Bottom Line

Voluntary excess pet insurance is an optional, supplemental insurance policy that can be used to supplement your existing pet insurance policy. It typically has a lower deductible than standard pet insurance and often provides more generous coverage limits. If you’re considering voluntary excess pet insurance, make sure to review your policy carefully and compare quotes from multiple insurers before you purchase a policy.

Voluntary excess pet insurance is a great way to protect your pet and your finances. If you’re looking for an affordable way to supplement your existing pet insurance policy, or if you don’t have pet insurance at all, voluntary excess pet insurance is worth considering.

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Conclusion

Voluntary excess pet insurance is a great way to protect your pet and your finances. If you’re looking for an affordable way to supplement your existing pet insurance policy, or if you don’t have pet insurance at all, voluntary excess pet insurance is a responsible choice.


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