Whatever you do, don’t let your 4-legged companion go uninsured.
We've looked at reimbursement policies, coverage and used many of the top providers ourselves.
Here are some tips to help you find the best policy.
It is best to shop for pet insurance when your pet is healthy. By insuring your pet when they are young or when you first bring them home, you can get them covered before you find any signs of pre-existing conditions and get the most out of your pet insurance policy.
The cost of insurance varies by carrier and the type of coverage you select. Get a least two insurance quotes and be sure to understand how the policy’s reimbursements and deductibles work.
Most companies offer different annual deductibles to choose from when selecting a plan, for example $500, $1000 and so on. Generally, if you believe your pet will be healthy and injury free, consider selecting a higher deductible as it will lower your monthly premium and total insurance cost overtime.
Pet insurance plans reimburse you for a percentage of the actual medical care cost. Most plans offer between 70-90% reimbursement. This means that when you submit a claim, all the charges that fall within the coverage limitations will be paid back to you at whichever percentage you chose when you enrolled your pet, minus your remaining deductible. Generally, the less reimbursement amount you choose (70% vs 90%) to receive, the lower your monthly premium will be but of course the less reimbursement you will receive when you file a claim.
Once enrolled, be sure to file claims quickly as the sooner you file the quicker you will get reimbursed.
Currently pet insurance does not offer coverage for pre-existing conditions which is a health issue your pet has before you enroll/purchase a pet insurance policy. By insuring your dog when they are young or when you first bring them home, you can get them covered before you find any signs of pre-existing conditions and get the most out of your pet insurance policy.
In providing you an insurance policy the insurance company takes into consideration different things - they refer to them as “factors” - that together play a role in the annual cost of your pet policy. Your choice of the deductible and reimbursement amounts are big factors but others are if your pet is a dog or cat, the pet’s breed (large breeds are generally more expensive to insure, furthermore certain breeds have a history of more illnesses than others), the pet’s age (older pets are more expensive to insure) and where you reside (insurance cost are more expensive in a city vs rural town).
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