Pet insurance is cover you buy for your pet in the event of illness or accident. This cover is primarily there to pay for any vet bills that accumulate in the course of getting your pet back to full health.
More comprehensive pet insurance will cover x-rays, surgery and hospitalisation if your pet becomes ill or is involved in an accident, and treatment for long-term ailments.
In recent years, pet insurance policies have expanded to cover many more eventualities. For example, some policies now include cover so that your pet can be treated by complementary/alternative therapies, and offer advice lines for the owner in the event of the loss of the much loved pet.