Pet insurance is insurance against expenses related to a person’s pet. Policies vary in their details but, usually, it is primarily medical expenses that are covered. Additional coverage might apply to burial costs for a dead pet and, sometimes, the expenses involved in recovering a lost pet, for example by offering reward money or putting up posters. Some policies, but not all, also give a payout on the death of a pet. Often, there is a maximum limit on how much a policy will pay out per incident.
Many pet insurance providers offer coverage only for the two most common household pets, cats and dogs. Some also cover rabbits additionally. Although less common, exotic pet insurance, covering animals such as horses, fish and reptiles, does exist too.
Many pet insurances policies will not cover medical conditions already existing at the time the insurance was taken out. There is often also an exclusion period, a length of time after the beginning of the policy during which medical expenses will not be covered.
Most pet insurance policies will not cover routine expenses related to the pet, for example vaccinations or neutering operations.
Some pet insurance policies also cover the cost of, or provide directly for, bereavement counselling in the event that the pet dies.