How to Choose The Best Pet Insurance For Your Dog or Cat
There is no better way to safeguard your pet’s health and your finances than by signing up for pet insurance. If your pet needs emergency care, the last thing you want to worry about is the bill, and how you’re going to pay for it. But finding the right pet insurance provider can be challenging, and determining the right level of coverage based on your needs can be overwhelming. Thankfully, we’re here to help!
What is Pet Insurance?
Pet insurance is a specialized type of insurance designed to cover veterinary expenses for your pets. Like human health insurance, it provides financial reimbursement for unexpected medical costs. Unlike human health insurance, most pet insurance providers require you to pay for your veterinary expenses at the time of service and then submit the invoice to them for reimbursement (vs. the insurance company covering the expenses first and you paying the remainder of the bill). Depending on the pet insurance provider and your policy, pet insurance may cover accidents, injuries, illnesses, routine care, and even some hereditary conditions.
Eight Factors to Consider When Choosing a Pet Insurance Company and Policy
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Determine What Is Covered:
Look for policies that cover both accidents and illnesses to ensure comprehensive protection. Ideally, you will want coverage to include emergency care, surgeries, medications, diagnostic tests, and chronic conditions. Some policies also cover routine care, like vaccines and wellness visits, if you’re willing to increase your monthly premiums.
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Understand Your Coverage Limits:
Make sure to understand if the policy has an annual limit, the maximum amount of money the insurer is willing to pay to cover your pet’s expenses per year. Some policies also have lifetime limits, which would be the maximum amount the insurer is willing to reimburse over the course of your pet’s life. Just make sure you’re comfortable with these limits if they exist.
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Assess Deductibles:
Clearly understand the deductible, which is the amount of money you will pay out of pocket before the insurer starts contributing. Determine if it is an annual deductible (applied once per year) or a per-incident deductible (applied for each separate condition), and make sure the deductible matches your risk tolerance.
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Ask About Waiting Periods:
Most policies have a waiting period before coverage begins for specific conditions or treatments. Make sure you understand what this will be based on your pet’s breed and age.
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Find Out About Any Exclusions:
It’s always important to read the fine print, and you’ll want to understand what conditions, treatments, or breeds may not be covered. It’s also important to determine how the policy handles pre-existing conditions, whether they’re excluded or covered after a waiting period.
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Research The Insurance Provider’s Reputation:
Ideally, you want an insurance company with a great reputation for customer service and a strong financial position from which to fulfill claims. Do some research to understand what other customers are saying about the insurer and how long they have been around.
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Seek Recommendations:
Don’t be afraid to ask your veterinarian (or Truss Vet!) about pet insurance options. Even better, ask some of your friends with pets to see who they have used and who they might like or not like.
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Compare Multiple Policies:
Great decisions come through great options. One platform that we love for finding a pet insurance partner is Pawlicy Advisor. By filling out one simple form, you get quotes from over 100+ pet insurance providers, and you can compare policies side-by-side. Visit their website by clicking here.
Where Does Truss Vet Fit Into All of This?
We offer same-day veterinary urgent care services in a modern, comfortable clinic. Pet urgent care has emerged as a new option for pet parents, and we offer shorter wait times and lower costs than a traditional emergency vet. Whether you have pet insurance or not, we’ll work closely with you to determine the best treatment plan for your pet. And if you’re seeking reimbursement from your pet insurance provider, we’ll help you every step of the way!