Not all pets are created equal—especially when it comes to their health and lifespan. When it comes to insuring your pet, there are a few key qualities you should look for in a policy that will help improve your pet’s quality of life. Take a look at this helpful guide to learn more about the qualities you should seek in a pet insurance plan.
Deductible Options
Comparing pet insurance options starts with comparing deductible costs, which is the cost you have to pay out of pocket before your coverage kicks in. Some plans have several options depending on your budget. For example, ASPCA’s pet insurance plan has three deductible options: $100, $250 and $500. Some other plans even go up to $1,000. The higher the deductible, the lower your payments.
When choosing a plan, you should consider the per-incident limit. This limit is the maximum amount the insurance company will pay for each incident. Choosing a plan with a high per-incident limit is important so that you won’t have to worry about running out of coverage if your pet becomes ill or injured. Be sure to sort through your options and compare them with other pet insurance providers. If you’re overwhelmed by the process, get answers to these key questions before pursuing a plan:
- How much will I have to pay out-of-pocket each year before coverage begins?
- What is the annual limit on my policy, and what services are covered?
- Is routine care, such as vaccinations and checkups covered?
- How long does the coverage last?
Feel free to ask each provider these important questions. Before you get a plan, read through the plan’s terms and conditions, so you know what is and isn’t covered. Some plans do not cover pre-existing conditions, for example, while others may have a waiting period of several months before benefits kick in. Also, be sure to compare the quality of customer service and read online reviews of the provider.
Comprehensive Coverage
Most pet insurance providers divide the types of coverage by the type of pet you own and their age. Because of this, puppies and kittens have different coverage than dogs and cats. Additionally, unique or exotic animals, like birds and marsupials, have varied coverage options. Not all pet insurance providers offer care for animals other than dogs and cats, so be sure to check coverage limits before applying.
Some insurance options offer types that cover the costs of preventive services and basic needs, like annual wellness exams, vaccinations, and parasite detection. Microchipping, spaying, and neutering are also often combined with basic coverage. More expensive and robust options offer the basic options, plus surgery coverage and treatment for rarer illnesses. You should choose coverage based on the needs of your pet. For example, elderly pets tend to need expansive coverage options over puppies.
Short Waiting Period
A waiting period is the time frame after you sign up for pet insurance, during which your policy will not cover any claims. This time frame usually lasts from one to twelve months, although it can be longer sometimes. Generally, the longer the waiting period, the lower your premiums. The purpose of a waiting period is to prevent people from signing up for insurance only when they need coverage. By making people wait a certain amount of time, insurers can weed out those who are only looking for coverage in an emergency. If you are considering pet insurance, be sure to read the terms and conditions carefully to see how long the waiting period is. Keep in mind that if your pet becomes ill or injured during this time, you will have to pay for all treatment yourself.
Pet insurance is the best way to keep your furry friend safe and healthy. Choosing the best coverage that fits your family’s needs will give you added peace of mind when your pet needs to get checked out by a veterinarian.
