Definition - What does Pet Insurance mean?
Pet insurance is an insurance policy that covers various medical costs incurred by your pet. It is, essentially, the animal equivalent of health insurance. Veterinary costs can be very expensive, so many people choose to purchase pet insurance in case their pet needs medical treatment.
Insuranceopedia explains Pet Insurance
Pet insurance can cover medicine, surgeries, routine checkups, or other visits to the vet.
Procedures and treatments for pets can cost thousands or even tens of thousands of dollars if the injury or illness is severe enough. Although the insurance covers the expenses paid by the pet owner, the pets themselves can benefit tremendously from this type of insurance because it allows them to receive medical treatment that their owners could not otherwise afford.
The very first pet insurance policy was sold to cover the canine star of the television series Lassie.