Insure Your Beloved Pet!

If you have pets, you most likely know just how expensive it can be to provide them with great veterinary care. Unfortunately, many individuals euthanize their pets when they simply can’t afford to pay the high cost of veterinary care when they need it. However, you can keep the inevitably costly care down if you purchase pet health insurance.

Though it is still fairly uncommon to purchase health insurance for pets in the U.S., it is widely used in Europe – some 40 percent of homes with pets have opted for this type of insurance. You can choose a plan that is based on the type of coverage you would like provided should it become necessary. Some will cover virtually any illness, while others provide coverage for general wellness, vaccines, neutering or spaying, or even dental care.

Deductible

Like personal insurance, you must pay the deductible prior to the pet health insurance kicking in. Depending on the features you choose, a policy can cost anywhere from $90 to $500 or more a year. Many will, however, offer multiple pet discounts.

Veterinarian Advice

Your vet may be the best place to begin your search for excellent pet health insurance. Simply request a list of carriers and ask for details on the kind of insurance plan that would be best for your pet.

Be sure to ask if each company is allowed to conduct business in your state when you are conducting your research. Also be sure you ask if you will be able to see the vet of your choice or if you must choose a veterinarian on a list of providers.

If you love your pets as much as I do, you definitely want to consider providing him/her the quality care pet health insurance can provide. It could be the best thing you ever did for your furry friend!

Protect Your Pet

There are at least a half dozen pet insurance companies in the United States and each one offers different coverage and different options. How can today’s pet owner navigate his or her way around the myriad choices?

The following nine questions are designed to give you a bit of a head start and hopefully save you some time:
1. Does the pet insurance company give you a choice of deductibles, maximums, and co-pays? This is important because more choices mean more opportunities to design a plan that will suit your budget.

2. Does the plan cover genetic conditions? Any pet can be at risk of genetic problems. Many pet insurance companies do not cover these, but some will. For the most comprehensive coverage you’ll want genetic conditions to be covered.

3. Does the plan cover chronic or recurring conditions? For example, if your pet gets sick in year 1, does it cover the same illness again in year 2? You will want your plan to cover chronic illnesses.

4. Does the plan come loaded with coverages that you’ll pay for but probably never use, like “Lost & Found” or “Accidental Death”? Don’t pay for coverages that you’ll never use.

5. What is and is not covered? Is it clearly stated on their website or over the phone? You don’t want any surprises when you lodge a claim.

6. Does the plan pay claims based on a restrictive benefit schedule or the actual vet bill? You want to avoid plans with benefit schedules because they generally do not reimburse a very high percentage of your vet bill.

7. Are there per-incident limits that effectively cap the amount you could receive back? For example, some plans have a $3,000 per-incident limit. If you had a claim for $5,000 with one of these plans then the most you would get back would be $3,000.

8. How long does the company take to pay claims? Obviously the quicker, the better!

9. What are the company’s rules around pre-existing conditions? Are they excluded permanently or temporarily? Remember, no pet insurance plan will cover pre-existing conditions straight away but if you’re upfront with the company, they can be upfront with you.

10. Will your premium go up if you make a claim?

Now that you’re armed with these questions, go online or call the companies to make sure that you’re getting what you expect from your pet insurance plan.

And as you learn about the different plans more you’ll be in a better position to ask the right questions so that you can make the right decision for your budget and your pet.