Top 3 Things To Know About Pet Insurance

Top 3 Things To Know About Pet Insurance

WHAT IS PET INSURANCE

Pet insurance or veterinary health insurance plans serve as financial protection from expected and unexpected vet bills. Whether it is a routine procedure or a severe life-threatening condition, pet insurance covers part or entire expenses for often costly veterinary procedures. Policies function in the very same way regular health insurance works!

Pet insurance has deductibles, copayments, and lifetime, annual, or per incident benefit limits. Most plans offer the option to customize the deductible, reimbursement percentage, and benefit limits. These three factors will determine what you are going to be paying monthly.  

Most providers only include dogs and cats, but a select few expand coverage to all types of animals.

TYPE OF COVERAGES

Comprehensive

   Accidents & illnesses: These include broken bones, swallowed objects, cancer, diabetes, ear infections, and numerous other conditions.

Accidents only

   Accident only coverage: They are usually the cheapest policies and cover bites from other animals, poisoning, but they do not cover illnesses or diseases.

Wellness coverage

   Preventive care: These cover routine procedures such as annual exams, vaccines, flea and heartworm prevention.

CONDITIONS & TREATMENTS COVERED

When deciding on a pet insurance provider, it’s essential to have a clear idea of the conditions and treatments covered. Pet owners should find out what conditions are specific to their pet’s breed and make sure the plan is willing to pay for these appropriately.

Take into consideration that all plans have standard waiting periods for accidents and illnesses, but some common breed-specific diseases have additional waiting periods per condition.

Quick note: Pet insurance is a preventive measure and does not cover pre-existing conditions if symptoms are present before purchasing a plan.

PRICING

Premiums depend on a multitude of factors: age, location, and breed. In addition to the type of plan, deductible choice, reimbursement percentage choice, and benefit limit choice will determine your monthly payments.

ADDITIONAL INFORMATION

For more information about how pet insurance works and the best pet insurance companies of 2019, visit Consumer’s Advocate.org.