As a pet parent, it’s natural to be constantly worried about your fur baby’s health. Unfortunately, despite ensuring healthy diets, and an abundance of love and affection, we cannot protect our pets from some illnesses or accidents which call for expensive medical assistance. At times, lack of funds might inhibit you from getting the best veterinary help. Not only this situation can gravely impact the health of your pet but also your emotional well-being. Do you know what’s the most effective way to counter such unanticipated circumstances? This is when pet insurance steps in!
A good pet insurance policy will help you get the best medical attention for your four-legged munchkin. However, before buying pet insurance, here are some things that you need to pay attention to so that you can land the most feasible deal.
It is critical to get insurance when your pet is young. This is because most insurance providers don’t cover a sufficient number of illnesses for older pets. Moreover, they universally don’t offer coverage for any pre-existing conditions. Therefore, by the time your pet develops any condition you might be unable to get a plan that could have helped you reimburse the expenses for their checkup, diagnosis, and treatment. Even if the insurer agrees to manage costs for older pets, you will have to deal with the inconvenience of pricey premiums.
It is wise to get an insurance plan that covers expenses for both, accidents and illnesses. In the long run, this might not only save you money but will also offer you with some peace of mind for leaving no stone unturned.
It is very important that you not take the highlighted features of the plan into account but also carefully read the fine print. For instance, check if they cover routine checkups, diagnostic tests, follow-ups, hospitalization, alternative treatments and certain types of prescription medications.
Therefore, ensure that you research your pet’s breed and if the insurance company will cover illness that might affect your pets as the age. Also note, that some insurers will only cover congenital or hereditary conditions if you enroll for a coverage plan before the pet’s second birthday.
Apart from the factors stated above, you should compare different plans to know what works the best. Therefore, avoid picking the first plan that comes your way.
At the moment, the following are some common types of plans offered by pet insurance companies.
As the name suggests, such plans will only cover medical expenses in an event where your pet has sustained any injuries such as broken bones or burns due to an accident. These will not provide coverage for any illness-related veterinary expenses.
This coverage option reimburses money for preventive and routine treatments including flea and tick treatments, vaccinations, and wellness exams.
Such plans only cover certain conditions for a specific amount of time and a specified amount of money. For example, an insurance company will cover $1800 for a chronic disease that will be only valid for 12 months. Time-limited policies are more affordable than comprehensive plans.
Like time-limited plans, maximum benefit plans will also cover a certain amount for a health condition. The only difference is there are no time constraints. The coverage offered can be indefinitely used to manage treatment costs. The insurance will stay valid until the maximum limit has been reached.
A comprehensive type of policy, lifetime plans are comparatively more expensive than other pet insurance plans. They usually cover treatments for chronic illness, surgeries, and hospitalization expenses. These are worth the investment, especially if your pet is more likely to develop any genetic illness.
Before getting pet insurance, it is important to understand that there are multiple costs involved in it. On an average, a monthly premium for pet insurance can be anywhere between $20 and $40. The premium prices will vary based on the type of coverage plan and additional benefits. Moreover, the quotes will different for different locations. For example, premiums in New York City will are expected to be 20% to 40% higher than the average cost. The same goes for deductibles.