Pet insurance for unexpected medical expenses is an invaluable way to safeguard your family financially in case of vet bills. Not only does it reduce stress that may come from a sudden illness or accident, but it can also provide invaluable peace of mind.
A quality pet insurance policy should cover 80% to 100% of your vet bill (after your deductible), including exam fees, lab tests, radiographs (X-rays), surgery, hospitalization and prescription medications. Be sure to read your policy thoroughly before purchasing one so you know exactly what’s covered.
Premiums are the monthly payments you must make to keep your insurance active. The higher the premium, the more coverage you’ll receive. You may be able to reduce your premium by selecting a lower reimbursement rate or setting an annual deductible that’s lower than usual.
Insurance rates can differ between companies and regions, so be sure to compare quotes before making your final decision.
Reimbursement rates for pet health insurance policies depend on the severity of your pet’s illness or injury, so it’s essential to pick a policy with an impressive reimbursement rate at an affordable cost. Furthermore, opt for plans with low deductibles and large maximum payouts so you won’t get hit with large vet bills in the future.
Your pet’s health risk, the type of coverage provided and price differences between plans from different providers all determine your reimbursable cost for coverage. We evaluate these elements and then suggest the most affordable pet insurance option based on our Lifetime Pricing Score so that you can save substantial money and frustration over their lifetime.
Pre-existing conditions are not automatically covered by all policies. Each provider has their own definition of what qualifies as a pre-existing condition, so it’s essential to research each one thoroughly.
Waiting periods are another key element when purchasing pet insurance. Most insurers have a waiting period of 14 days for illnesses and two weeks for accidents, though some have special waiting periods for certain diseases. If your pet develops a health issue during this time, you can still apply for a policy; however, reimbursement won’t begin until after treatment has taken place and all symptoms have been eradicated.
In addition to veterinary care, many pet insurance plans also cover wellness visits and preventative maintenance. These visits help your pet remain healthy, which in the long run could reduce overall vet expenses.
Breed-Specific Restrictions
If you own a dog or cat, make sure to ask your insurer whether your pet is covered under its breed-specific policy. Some breeds are known for having certain medical issues like spinal issues and hip dysplasia; thus, it could be beneficial to find an insurance plan with breed discounts available.
Illness-only coverage is a popular option for pet parents who don’t need to worry about insurance in case their pet gets sick or injured. While this type of policy is inexpensive, it does not cover routine medical care or accidents.
