In the event in which your pet is involved in an accident or suddenly gets sick, the veterinary costs that come from treatments can end up being quite pricey. For example, if your dog gets hit by a car, you will face a vet bill of around $7500. Or if your Retriever got Addison’s, the animal will need a life-saving injection every three weeks. This could end up an astounding $30000 vet bill if it’s necessary to add the dog’s lifetime requirements.
These issues are not predictable and can lead to significant financial trouble for a household. An excellent tool to deal with such unexpected expenses is to have pet insurance. This policy can aid you to cover for vet costs associated with unexpected health problems or injuries. And coverage is meant for both dogs and cats.
Before you decide on a plan, it is best to ask for advice from your fellow pet owners or the vet’s office. Also, check the customer testimonials on sites such as Petinsurancefinder, which also allows you to compare distinct pet plans and their characteristics. You can select a few providers based on these findings. And from now on, you will want to take a closer look at the following aspects.
#1 What is the coverage?
You should start your search with the coverage. Several providers allow you to choose from up to four plans beginning from basic and ending up with premium. The exact health problems and pet health care costs covered depend on the plan’s particularities. Usually, the most affordable plan covers only accident-related injuries. But because of the expenses that might come from dealing with health problems like cancer, a plan that offers coverage for both unexpected health problems and accidents might be recommended.
Anyway, read the policy’s terms and conditions carefully to determine the type of coverage you will receive, along with whether or not it includes illnesses or treatments.
#2 What are the exclusions?
Each pet plan comes with its exclusions. This is why it is essential to read the particularities and description of a policy attentively. As a general rule, almost all providers don’t offer coverage for pre-existing health problems. Keep in mind that the syntagmatic pre-existing health issues have distinct definitions depending on the pet insurance provider. Some companies are stricter with this, while others are laxer. Anyway, exclusions are the reason why you should enroll for a pet plan while your pet is still young and healthy.
Exclusions might refer to:
- Breed and genetic predispositions;
- Specific treatments, including alternative remedies or flea/parasite care;
- Administrative costs and sales taxes;
- Veterinary check-up fees;
- Dental care.
#3 What about limitations?
Some providers will get you access via a premium package to unlimited coverage. Still, some policies come with a limit depending on claims per lifetime, per year, or per incident.
So, it is best to purchase enough coverage to be prepared to cover the price to treat accident-related injuries, along with health issues linked to your pet’s breed. You can get all this information from your vet, as he or she knows the exact medical history of your pet.
Limitations might refer to:
- A specific timeframe after sign-up needed as a waiting period before the coverage starts;
- Constraints in regards to renewing a plan in case of a pet developing a chronic ailment;
- Diminish in pay-out in case of frequent reimbursement requests;
- Constraints in regards to a pet’s age, which might prevent it from getting insurance.
#4 What additional characteristics or coverage you should look for?
Many pet insurance providers might get you additional coverage. As an example, you can receive a premium discount if you opt for insuring several pets or if you opt for purchasing the health plan online.
Routine or preventive care, along with similar expenses or limitations, might not be featured in standard policies, but you might be able to access them for an extra fee.
#5 What is the total reimbursement offered?
Pet plans are created to offer you a specific percentage of a reimbursement request, meaning the holder will have to cover for the remaining sum. This co-payment goes between 10% to 30%.
Of course, the policy will underline the yearly deductible i.e., the sum of eligible reimbursement requests a policyholder has to pay each year before receiving coverage from a provider. This deductible can be between zero and $1000 or even more. Still, some providers might boost the deductible when your pet starts to age.
#6 Can you rely on customer service?
If you are seeking to have access to outstanding customer support, you should look for the following features:
- Claims aren’t frequently denied due to uncertain motifs;
- The claims filing process is user-friendly and straightforward, while the reimbursement is done in a decent timeframe;
- The time limit for requesting a refund is acceptable;
- Customer service is reachable at all times.
#7 What are your responsibilities?
All pet insurance plans come with specific duties one must follow. Usually, the policyholder has to commit to correct maintenance and preventive care for his or her animal. This includes regular vet check-ups and following the vaccination scheme. If the policyholder neglects to do so, the reimbursement requests will be definitely rejected.
#8 What’s the overall price of pet insurance?
Pet policy premiums are established depending on breed and age, along with the standard vet care prices in the area you live in and policy characteristics. Such premiums are different and can get pricier when your pet ages. To secure the best choice for your furry friend, it is always best to compare quotes from distinct providers.
If you believe that the exact pet plan is too demanding or pricey for your situation, you can always create a savings account for situations in which you need to cover for vet bills. You get fast access to your funds without having to wait for approvals.
Always remember that vet costs for accidents, injuries, or unexpected health problems can turn out to be a financial burden. Pet plans can aid you in dealing with such expenses. Still, it is crucial to research before purchasing a pet policy, as you need to identify whether or not it matches your budget and expectations.