If you do not want to spend a big amount of monthly or annual sum of money on pet insurance, you are probably finding ways to have the lowest rates. To pay the lowest possible amount, think about getting third party liability. However, is this option the right one for you and your pet?
What is Third Party Insurance
This kind of insurance is a policy which covers any damage caused by your pet to a person, property or another pet. As pet owner, you are responsible for the actions of your pet so when he causes any type of damage, you will have to pay for the related costs. The damage can be in different forms like digging up the lawn of the neighbor or getting loose or causing a vehicle accident or biting somebody. Such type of costs can rack up quickly, especially if somebody is injured and needs to leave work for some time.
Benefits of Getting Third Party Insurance for your Pet
Getting just third party insurance for your pet is more affordable than other options. You may get an annual policy for under $100. Sometimes, this policy is even part of your home insurance. The best thing about having this type of policy is that when your pet causes damage, you will be saved from the millions of dollars of liability in a worse scenario.
Drawbacks of The Policy
If you choose to have just third party liability insurance for your pet, know what this policy does not cover. It will not cover any vet treatment costs. In case it gets injured or sick, you cannot expect to have any sort of financial help and you will have to pay for the bills yourself. Additionally, you need to know that a number of third party policy does not include some dogs. This is because some dogs are deemed high risks or dangerous like a Pitbull or Cane Corso.
What Happens if your Pet Gets Sick
For a lot of pet owners, buying third party insurance alone is too risky. If you choose to buy a more comprehensive pet insurance, your pet will get coverage for both vet fees and third party liabilities. But, when you choose to exclusively get a third party liability cover, buy a separate plan to pay for your pet’s veterinary bills. There are many plans to choose from that are offered by various insurance providers. Puppy insurance comparison is necessary to ensure you end up with the right provider.