This post about Pet Insurance is inspired by Invisible Voices . The following links take you to some great research that they have done on Pet Insurance including a great amount of feedback from pet owners, which I find is the most useful when talking about any pet product.
I hope you find the links and comments useful. Please tell us what you think, if you have pet insurance, and if so, your experience.
“Pet” Insurance, Part 1
“Pet” Insurance, Part 2 – Money
“Pet” Insurance, Part 3 – Companies and Options
“Pet” Insurance, Part 4 – Reviews
“Pet” Insurance, Part 5 – two additional companies, overview
Interesting points I would like to add that I did not see were addressed (unless I have missed it) is to ask whether the insurance underwriter is an Admitted carrier or Surplus Lines (Non-Admitted).
It is my understanding that an Admitted carrier is subject to state insurance code, governing such aspects as company reserves and advertising and is licensed by each state. An Admitted carrier must have the approval of the State Department of Insurance for all of their Policy terms and rates.
A Surplus Lines insurer is not licensed in the state where the insured or risk is located although they must be licensed in their state or country of domicile. Insureds with coverage from Admitted carriers have protection from state guarantee funds where as Surplus Lines insureds do not have that protection.
With Surplus Lines, the Policy Terms and Conditions and the rates can be changed at a moments notice whereas with a Policy underwritten by an Admitted carrier, before any changes can be made, it must be reviewed by the State.
Look on your Policy documents, where a Surplus Lines insurer is required to disclose this information.
To read the entire Invisible Voices Blog follow this link.
2 comments
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Thursday, July 12, 2007 at 2:33 pm
Deb
Hey, thanks for bringing up that issue about the Admitted Carrier vs Surpluss Lines. I didn’t address that at all – I’ve been learning as I go along with each post, so I’ll definitely look into that more. I do hope that anyone who reads my posts points out any glaring holes or errors! I have tried my best to be accurate and complete, but I’m not going to claim expertise.
I’ll probably be adding to the series of posts soon, time permitting. I have a page (on my main page, just under “about”) where I have collected the links to the posts I have done so far, and I’ll edit that page when I do more posts about pet insurance, so it will be easy to find.
I’ve been lucky enough to have had someone (Mo) with a great deal of personal experience in researching and dealing with various pet insurance companies find the series of posts and provide a lot of really helpful information! It was a lot more helpful than the meager reviews I was able to find online.
Thanks for linking in my blog!
Thursday, July 12, 2007 at 3:09 pm
petrealtynetwork
Deb: You are right, the information you provided is much more detailed than other ordinary website reviews out there about pet insurance. That’s why I thought it was good to feature on my blog to share with our visitors, too. It is always useful to compare companies. I look forward to additional posts to the series. I find your insight very valuable!!