If you’ve spent the New Year considering getting pet insurance for a new or old furry friend, then you’ve spent your time wisely. Many pet owners are choosing to get health insurance coverage for their cats or dogs. If you are a first-time pet owner, then you may not be aware of the rising cost of veterinarian care. Emergency vet visits can cost pet owners thousands of dollars for one trip. You may not want to spend time thinking about the worst case scenarios but the unfortunate reality is that many pet owners are forced to recon with the astounding costs of care when something goes wrong. This can also lead to some very difficult decisions being made over care when the owner can’t afford the best course of action. Not to mention the amount of stress this can put on an owner during an already difficult time.
Give yourself peace of mind by getting an insurance plan for your pet. That way, if something should go wrong, you can make sure that your pet receives the best care available for their ailment. And without the stress of the bill that comes at the end. Keep reading to find out more about how to obtain coverage and all the benefits you and your pet will enjoy.
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Things to Consider
There are a few factors to consider when choosing the best pet insurance provider. It is important to compare coverage options and pricing which you can do by getting free quotes from each provider on their website. Here are a few things that we have flagged as things to be aware of. If the provider you are considering does any of the following, consider looking elsewhere.
- Extra Fees: Some providers will try to charge you extra for key coverage benefits. The benefits that we see this happening to include things like dental illnesses, behavioral issues, and sick visit exam fees.
- Lesser Reimbursement Rates: We have also seen providers offering lower rates of reimbursement for older pets or certain breeds that are more prone to health issues. If you have a senior pet or a harder to insure breed, make sure you are getting coverage from a provider that treats all pets equally.
- Limited Coverage: Along with lower reimbursement rates, some providers will completely deny coverage to senior pets and breeds that have known health issues. If your pet has been denied by a provider, don’t stress, there are plenty of pet insurance providers that ensure all breeds and ages.
- Per-Condition Deductibles: Be aware of providers that have a per-condition deductible for each time your pet has a new accident or illness. There is no reason for this, and most other providers do not do this.
What is Covered
An extensive pet insurance plan will cover any emergency vet visits or hospitalizations that may occur over your pet’s life. This includes things like diagnostics and treatment, parasites and infections, specialized care, cancer care and many more. Your plan will cover any prescription medications that your pet may need for long- or short-term care. It will also cover care for any chronic illnesses that your pet develops after they are covered by insurance. It is important to note that if your pet has already developed a chronic condition, they will not be eligible for pet insurance through any provider. We highly recommend purchasing a plan early on if your pet’s life for this reason. Care for chronic illness can cost a pet owner an astronomical amount, especially if your pet develops an illness young. Don’t wait to get pet insurance until it’s too late.
One thing that most providers will not cover that comes as a surprise to many people is annual care. Wellness exams and vaccinations that are part of your yearly care for your pet are not often covered. If it is important to you to have coverage for these types of visits, check out a provider that offers an additional annual care bundle. You can add this to your standard coverage plan for as little as $9.99 a month.
If you have recently welcomed a new puppy or kitten into your home, then you’ll want to be on the lookout for providers that offer a plan for the first six months of your new furry friend’s life. These plans will help you with the cost of things like first year vaccinations and testing and will even cover microchipping.
Comparing Cost of Pet Insurance Plans
It is difficult to say exactly how much your monthly premium will be without knowing the specifics of each pet’s situation. Cost is determined based on a variety of factors. Cats will typically not cost as much to insure as dogs due to the higher cost of care and risk of health issues that come with owning a dog. Also, you could end up paying more for breeds that have known health issues, as previously stated. Your geographical location is also a big factor in price as the cost of veterinarian care usually runs higher in large metropolitan areas like Los Angeles or New York City.
You can also determine the cost of your monthly premium by adjusting your annual coverage limit and annual deductible. The average deductible will be around $250 a year, but you can raise or lower this amount to get a higher or lower monthly premium. Lowering your annual coverage limit will save you money on your monthly payment as well.
How Does it Work?
If you are worried about having to change vets to one that is approved by your provider, you can relax. Pet insurance works through a reimbursement system so once you receive your vet bills from your vet, you can submit them to your provider to receive up to 90% of your money back. This can add up to tens of thousands of dollars over the lifetime of your pet. If you were on the fence about getting coverage for your pet, let this be your sign to sign up for insurance today.
