subject: How USA is faring in the pet Health Insurance Sector [print this page] How USA is faring in the pet Health Insurance Sector
When compared to the European nations, pet health insurance seems to be an oblivious concept amongst most citizens in the country. Still due to a wider internet exposure and greater internet and information penetration, things seem to be looking up for a sector touted as the next biggest investment scene in the continent. Europeans seemed to have pioneered the law and legislation on the same and they are currently championing the cause of pet health insurance, not just with money but in numbers too!
Consider this; Sweden is the world's more knowledgeable country in terms of pet health insurance; more than 60% of the total people in the country have health insurance cover for their pets! Even in Europe, the insurance scene is booming with close to 30% of the pet owners having a health insurance as compared to only 8% American pet owners having the same. As this sector in the Europe grows in leaps and bounds; so does in America but at a slower rate. The main reason attributed to the slow but steady growth of pet health insurance in America has been that there is a general lack of awareness amongst the people regarding the same.
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The big names in insurance world-wide are starting to spread awareness on the same by using the print and the internet media for this. Social networking sites and tapping animal rights groups have been so far the main weapons in fighting for pet health insurance in the country. The campaigns seem to have affected the pet owners and they are contributing to the same.
It helps to have a pet health insurance. Not because it relieves you from spending a lot on your pet's medical expenses but also sharing the responsibilities when it comes to any legal muddle with the pet. For instance, in the UK for pets having a health insurance cover, it is the responsibility of the insurance company to ensure a proper compensation to the aggrieved parties in case the pet was the main cause of a major accident or traffic snarl. Remove the pet insurance from the scene and the owner has to pay all the damages and compensate the drivers adequately.
This might take a toll on your financial health and leave you bankrupt. When your pet enters the old age, there are variety of treatments and even surgeries to be done. More often than not, pet surgeries cost more than similar surgeries done on humans! Therefore it is important to have a proper pet health insurance scheme in place. The best person to guide you on this would be your local vet who will help you with all the finer details.
Then there are many liability issues which can be taken care of by the insurance company itself. Like the example of how the policy works in the UK. With the internet becoming the hub of all knowledge, having a detailed knowledge on pet health insurance does not seem to be a distant dream at all!
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