People all over the world regard their animals as family members. They could keep small creatures, or 100 pound Labs. These pets can expect the same treatment as their human companions; even down to their pet insurance.

According to recent polls, pet health care spending has risen over 40% in the last two years to roughly $10 billion dollars. According to the founder of Pet’s Best Insurance, Jack Stephens, over $2 million of that was spent on pet insurance. By all accounts, that number is expected to top $1 billion by 2011 which makes pet health insurance one of the fastest growing insurance products on the market today.

These pet insurance plans can be very straightforward or complicated, depending on your needs. While most often taken out on the family dog or cat, they are available for almost all pets and livestock.

Like any insurance, you don’t know when you’re going to need it. Unfortunately with animals, if they end up having surgery the costs can spiral so quickly. Equally, pedigree dogs are more prone to certain conditions.

The ASPCA has noticed a surge in the number of people contacting their office in recent months. Well meaning owners who simply can no longer afford the often veterinary care that their pets require.

Generally, pet health insurance cover bills due to injuries and illnesses. They also cover preventative care and vaccinations. Some plans will also cover a portion of obedience training costs and flea/tick medications.

These plans also cover micro chipping to help locate a lost pet and some will even cover the cost of advertising and rewards to help locate your lost pet. Some even offer travel reimbursement if a trip is cut short due to a pet related cancellation.

You must be aware of the terms of each policy though, and not shop purely based on price. This is an important family member, and adequate coverage should be your first goal.

Pet health insurance is becoming more common every day. It’s a great feeling knowing that your pet will be taken care of no matter what sort of emergency comes up.

Making a choice between expensive health care for a pet or ending the life of that animal companion is never easy. Wallace Sife, who as founder of the Association for Pet Loss and Bereavement has counseled hundreds of guilt-racked pet owners, said, “There is no right answer.”

While a pet insurance plan won’t spare you from the emotional hardship of a pet needing expensive care, it can free you from worrying about the financial stress, and hopefully help you make a better decision.

These are the basics behind this issue, and it is important to do your research so you know exactly what you are covered for and how much this will cost. A simple internet search should yield a variety of insurance providers, and you should compare their websites to see which gives you the best deal. Do not just go for the cheapest option – make sure that your pet is covered so that you will be prepared and looked after if anything does go wrong with their health.