If you are an adult in the US, then there is a pretty good chance that you have health insurance coverage. Healthcare in this country often comes at a very high cost and those who are uninsured risk losing everything if something were to go wrong with their health. If you are a pet owner, then you may be familiar with how expensive healthcare for your furry friend can be. It can often feel like it mirrors the cost of our healthcare. Unfortunately, the difference with having unaffordable vet bills is that you often have to make the decision whether or not it is something you can justify in your unique circumstances. Due to this, many sick or injured pets go without the care that they need.
Pets are often rambunctious and unpredictable and can get into trouble at a moment's notice. This is why pet insurance has been growing in popularity over the years. Pet owners find peace of mind when getting their cat or dog their own healthcare coverage. Most pet insurance companies will reimburse you for vet bills at up to 90% of the cost. This allows pet owners to choose the absolute best course of care when their pet gets sick or injured, with no thought about the bill at the end. This also allows them to focus on helping their pet recover from their ailment.
Pet insurance has been working successfully for thousands of families for years. If you are ready to get your pet signed up for pet insurance, here’s some must know information and tips on how to choose the right insurance plan for you and your pet.
What You Need to Know
- How does pet insurance work? Most companies will operate through a reimbursement system. This means that you will never have to worry about whether your veterinarian will accept your pet insurance. Once you are finished at the vet, you simply send your vet bills to your provider, and they will send you a check for around 90% of your bill.
- Will I have a deductible? Yes, pet insurance companies do have a deductible that you will need to meet to begin receiving reimbursement. This deductible is, however, far lower than what you see with standard health insurance. While they do a range, the average deductible will be around $250 annually. Most pet owners find that this is very easy to meet if they have an emergency. It is also important to note that you can raise or lower your deductible while determining how much you want to pay every month.
- How much will I pay monthly? This amount is determined by a few factors. Dogs will typically cost more than cats due to the higher average cost of care of their lifetimes. You could also find yourself paying more if your dog or cat is of a breed that is known to have chronic health issues. Older dogs or cats may also cost more to insure. Additionally, where you and your pet lives will pay a part in this number as well. Healthcare for pets will, naturally, cost more where the cost of living is higher.
- What does it cover? An extensive pet insurance plan will cover a range of things such as prescription medications, diagnostics and treatments, parasites and infections, toxins, cancer care, surgeries, orthopedic injuries, emergencies and hospitalizations and many more. Some companies go the extra mile and include extras like prescription food and supplements and alternative therapies.
- How do I sign up? Signing up for pet insurance is easy as most providers offer an easy quote and purchase system through their websites. This is also the best way to get an exact idea of the cost of each package. Once you have selected and purchased a plan that works for you and your pet, you will typically have to wait a brief period for your coverage to kick in. This is typically only a few days.
What to Look for When Choosing a Provider
There are so many pet insurance companies these days, it can be difficult to know exactly what to look for. Let’s talk about some of the red flags that pet insurance companies can give off. If your pet falls into one of two categories, then you may need to be more diligent in your search. These categories are senior pets, or pets that come from breeds that are known to develop chronic health issues. As previously mentioned, having one of these scenarios can raise the cost of your healthcare plan. However, some companies will not even offer coverage to pets with these variables. If you find yourself being denied coverage, be aware that this is not the case with all companies as there are plenty of providers that do not discriminate on these factors. It is also a red flag if a provider tries to offer lower reimbursement rates to senior pets. If you see a provider trying to do this, look elsewhere.
Other things to look out for are extra fees on key coverage benefits or per-condition deductibles for each new accident or illness. These are both things that can rack up extra cost and plenty of providers will not do then, so be discerning.
Other than reg flags, another thing to look out for is any add on or specialty packages. You may be wondering about coverage for puppies and kittens. Some providers offer special plans to help cover the cost of care that is needed in the first six months of your new pet's life. Also, standard annual wellness care isn’t commonly covered under most plans, but some providers have add-on packages that will cover the cost of this care. If this is something that is important to you, keep an eye out for this type of additional coverage.
At the end of the day, you can’t go wrong with pet insurance. Join in the thousands of pet owners that sleep comfortably knowing that their pet's health is insured today.