George Banco Rough Guide To Travel Insurance and Pet Insurance
In this, our last guide on different types of insurance, we’re going to lump in a pair of important, but simple, types of insurance into a single article. This is because it’s easier than putting it into two, and it gives us a chance to round off the series.
The two types of insurance could be considered as somewhat secondary, but to some are a lot more important. The first, travel insurance, is something a lot of people consider mandatory when going abroad, but equally is also one type of insurance which is often missed or ignored.
The other type we’re going to cover, pet insurance, is also one that some ignore, but some can’t go without. We all hope our pets will stay as healthy as we do after all, but sometimes it’s not the case and vets bills pile up.
But what are the facts about these two types of insurance? In the following article we’ll attempt to make sense of it all.
When you go on holiday you can’t always be sure that you can cover medical costs if there’s a problem or accident – so travel insurance can be useful. It also covers legal costs and the costs of lost and stolen bags.
Most policies include cover for –
- Emergency medical costs
- The cost of cancelling or delaying your trip, or going home early
- Personal liability, in case you incur legal costs such as being sued
- Lost or stolen bags (although this is sometimes an optional extra)
- Some of the things basic policies DON’T cover and may be charged as extra –
- Dangerous activities, such as winter or adventure sports may need additional cover
- Traveling to places the foreign office recommends avoiding, such as war zones
- Over 65’s and those with medical conditions may need specialist insurance
- Coverage if you’re involved in something huge and unexpected, such as a riot, an earthquake, a terrorist attack or a disease epidemic
Travel insurance isn’t 100% necessary but if you feel as if your destination is risky, it’s a good choice to get a policy. Some countries provide more extensive healthcare than others, so plan your journey accordingly.
We haven’t included pet insurance last because we don’t love pets (we do), but for some people it’s not on the top of their list of essentials. However that being said medical bills for pets can potentially be pretty high, so pet insurance is a good idea for those with worries.
Insurance for pets is mostly take out for cats and dogs, the more exotic your pet the harder it is to find an insurer. Older pets tend to cost more to insure, and for obvious reasons venomous animals are not eligible for insurance.
The cost of pet insurance is worked out in a similar way to life insurance for people – a lot of factors are considered when taking out a claim such as age, breed of animal etc.
As well as vet bills, pet insurance may also cover –
- Loss and theft of your pet, this might also include the costs of advertising your lost pet
- Training and behavioural treatment under the direction of a vet
- For dogs only, liability cover in case your dog is involved in injury or property damage
- Death by illness or injury
Pet insurance can last for the entirety of a pet’s life, or can only be bought for a certain amount of time. Additionally, you can apply for ‘accident only’ pet insurance, which is the most basic type of cover.