Can my dog have life insurance? Many pet owners are unaware that their furry companions can have a life insurance policy that, at the very least, covers funeral expenses in the event of their beloved friend’s passing.
However, pet life insurance encompasses much more, and its death benefit can cover more than just funeral or cremation costs; it can also include income replacement if the pet generates any. This refers, for instance, to racehorses, zoo animals, dogs involved in competitions, movies, advertising, or those used for breeding—in other words, animals that produce some form of economic profit for their owners.
Similar to human life insurance, the cost of pet life insurance will depend on factors such as age, species, health status, market value, and even if it’s a pet that’s highly sought after by thieves.
If you do get life insurance for your pet, it could include compensation for theft. However, it’s more common for it to cover death due to a hurricane, explosion, fire, accident, choking, or accidental shooting (provided you or your employees do not cause it). Pet life insurance typically does not cover medical expenses incurred by the animal; it only pays out in the event of its death.
If you’re considering insuring your furry friend, it’s important to note that most insurers only offer pet life insurance for animals that generate income for their owners.
If you want to learn more about this or any other type of life insurance, contact a specialist at Univista Insurance. Can my dog have life insurance?
Give us a call today for a full assessment! (305) 728-6352. You can also get a free quote right here.
