PET INSURANCE INFORMATION
As veterinary medicine becomes more technologically advanced, the cost of care increases. That's because of higher costs associated with the equipment, facilities and training required to provide these higher-quality services. This, combined with owners' higher expectations for their pet's health care and standard of living, has led to an increase in the pet insurance market. Pet health insurance can help by offsetting some or most of the costs of diagnosing, treating and managing your pet's annual wellness, illness or injury.
Pet insurance companies are beginning to offer the pet owner more options to customize their coverage by allowing them to choose their own level of deductible or co-insurance. This allows the pet owner to control their monthly premium and choose the level of coverage that suits them the best.
Why Pet Insurance Is a Good Idea
Your pet may be healthy now, but what about next month or next year? Illnesses, infections, and injuries happen without warning and can be costly to treat. If you don't have pet insurance, you may need to use funds earmarked for household expenses or rely on credit cards to pay veterinary bills. When you have pet insurance, your budget won't take a hit due to an unexpected bill. Pet insurance also offers peace of mind. When you know your pet's health care needs are covered by insurance, you won't have to make a difficult decision about whether you can afford a particular treatment or procedure.
What to Look for When Buying Pet Insurance
When you're comparing pet insurance plans, take a look at:
If you're having trouble deciding, check out this article by AVMA. You can also google "pet insurance comparison" and look for reputable sources. Here are few we found: Money article or this website, sponsored by LifeLearn, an education company.
As veterinary medicine becomes more technologically advanced, the cost of care increases. That's because of higher costs associated with the equipment, facilities and training required to provide these higher-quality services. This, combined with owners' higher expectations for their pet's health care and standard of living, has led to an increase in the pet insurance market. Pet health insurance can help by offsetting some or most of the costs of diagnosing, treating and managing your pet's annual wellness, illness or injury.
Pet insurance companies are beginning to offer the pet owner more options to customize their coverage by allowing them to choose their own level of deductible or co-insurance. This allows the pet owner to control their monthly premium and choose the level of coverage that suits them the best.
Why Pet Insurance Is a Good Idea
Your pet may be healthy now, but what about next month or next year? Illnesses, infections, and injuries happen without warning and can be costly to treat. If you don't have pet insurance, you may need to use funds earmarked for household expenses or rely on credit cards to pay veterinary bills. When you have pet insurance, your budget won't take a hit due to an unexpected bill. Pet insurance also offers peace of mind. When you know your pet's health care needs are covered by insurance, you won't have to make a difficult decision about whether you can afford a particular treatment or procedure.
What to Look for When Buying Pet Insurance
When you're comparing pet insurance plans, take a look at:
- Coverage. Does the plan cover well visits in addition to accidents and illnesses? If well visit coverage is available, will you need to pay more for it? Does the policy list specific conditions and injuries that will be covered, such as cancer, parasites, broken bones, ingestion of foreign objects, etc.? Does it cover routine vaccines?
- Exclusions. Are certain conditions excluded from the coverage? What about chronic and long-term diseases and conditions? Will the policy cover care for your pet's diabetes or hip dysplasia? In some cases, insurers may cover new illnesses and injuries, but might exclude pre-existing illnesses or chronic conditions.
- Reimbursements. Most pet insurance plans reimburse you after you pay veterinary bills. You'll need to pay the veterinarian with cash, check, or a credit card, then wait to be reimbursed. Ask the company how long it takes to provide reimbursements and what percentage of your costs will be covered by the plan.
- Premiums and Other Charges. How much will you pay for the coverage? Are there co-pays and deductibles? Will the premiums go up every year? Will you pay more as your pet gets older? How often are premium payments due?
- Breed Coverage. Does the insurer cover your pet's breed? If the breed is known to have many health risks, the insurer may choose to decline coverage or not offer coverage for specific conditions.
- Veterinarians. Can you use the insurance at any veterinary office you want? What if your pet needs to see an emergency veterinarian? Will the policy cover emergency visits to other veterinarians or trips to veterinary specialists?
If you're having trouble deciding, check out this article by AVMA. You can also google "pet insurance comparison" and look for reputable sources. Here are few we found: Money article or this website, sponsored by LifeLearn, an education company.