Pets are beloved members of any family’s household. You want to keep yours with you, happy and healthy, throughout their life. You might even carry pet insurance on the animal in case it needs emergency care. However, what happens if your pet can no longer live in your home, and you need to look for a new place for it to stay? Can you send its insurance with its new owner?
Whether you can transfer a pet insurance policy is largely at the discretion of the insurance company. If you do have to re-home your pet, always call them to see what you must do.
The Benefits of Pet Insurance
Some people think of pet insurance in different ways.
Homeowners insurance policies themselves often contain a special degree of protection for pet risks. This is commonly called pet bite liability insurance. For example, if your pet were to bite a neighbor or damage their belongings, this coverage can pay for the other party’s losses. However, this won’t apply to your own losses caused by the pet.
However, to protect the pet’s own well-being, you’ll need pet insurance. In most cases, this is stand-alone coverage. Like your own health insurance, this coverage will apply in case a pet experiences an emergency medical crisis that needs assistance. Non-routine veterinary treatments are often extremely expensive. Paying for the pet’s care is often comparable to paying for your own. If you don’t want to worry about whether you can afford it, you can often turn to this coverage.
Still, the question is, if your pet has to go to a new home, can their insurance follow them?
Transferring Pet Insurance Options
You don’t want to have to re-home a pet. However, sometimes, you must take this hard step.
For example, say that you have an elderly parent, who carries an insurance policy on their dog. If the parent has to move to a nursing home, then they likely can’t take their best friend with them. However, you could still take the dog to your own home, and it can remain a member of the family.
In some cases, like this one, you might be able to transfer the policy’s ownership. However, both parties in the deal (the previous and new owners) will likely have to consent and handle the transfer through the insurance company.
Keep in mind, pet liability insurance within homeowners or renters coverage is not transferable. It is a component of a greater policy. Therefore, if a new owner wants to buy this coverage, they will have to add it to their own policy. Your insurance agent is happy to help you explore your options for transferring or buying new pet insurance coverage.
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