Pet Insurance
Raising a pet can be a joyous experience due to its loyal, unpredictable nature but care can quickly become expensive. After all, pets are family and it can be emotionally and financially stressful when veterinary expenses begin to stack up. Pet Insurance can help with not only unplanned accidents and illness but also things like routine care that help keep your pet healthy.
Pet insurance helps pay for your pet’s medical care, with many policies covering up to 90 percent of your vet bills. Maintaining your pet’s health can get pretty expensive these days, so a pet insurance helps to cover for your cat, dog or any other pet for veterinary expenses when they are sick or are facing any kind of medical issues – both minor and major ones
If you have a pet insurance plan, you’ll generally have a deductible amount that you pay for veterinarian bills before coverage starts. After that, you’ll still pay your vet directly and then submit your bills to the pet insurer for reimbursement. The insurance company will send you reimbursement until it has paid the maximum your plan allows in a year.
There can be differences depending on the plan, but most pet insurance works in the same basic way:
- Visit your veterinarian and pay as usual.
- Submit a claim online, through an app on your phone, or by email, fax, or mail.
- Get reimbursed for covered services.
When you’re comparing plans, be sure to read up on what’s covered and what’s not so there are no surprises later. For instance, not all providers cover veterinary exam fees, which are part of nearly every veterinary bill. Some providers also have vaccine or other pet care requirements that you’ll need to follow or risk having your claims rejected.
What animals can you get Pet insurance for?
Health insurance is available for all types of pets, including dogs, cats, rabbits, ferrets, exotic birds, reptiles, potbelly pigs, and various rodents. The cost of coverage is based typically on the animal’s age, health profile and the level of care you choose.
- Veterinary fees – The cost of diagnosing and treating illnesses and/or injuries. This is the core cover provided by pet insurance and normally includes the cost of consultations, examinations, tests, x-rays, MRI/CT scans, medication, bandages, surgery, and hospitalisation. Often included are the cost of being referred to a specialist vet, and complementary treatments such as physiotherapy, osteopathy, chiropractic and hydrotherapy. Alternative therapies like acupuncture, homeopathy and herbal remedies may also be covered.
- Third party liability– If your dog injures someone or damages someone else’s property, and you are found legally responsible for the injury or damage caused, the policy can cover any compensation you may be liable to pay.
- Loss of the pet – If your pet is lost, stolen, or dies as a result of an injury or an illness before a specified age, you will be paid the purchase price or its market value.2
- Advertising costs– Advertising costs to help find your lost or stolen pet and the cost of a reward if someone finds or recovers your pet.
- Boarding / Hospitalisation Costs– If you have to go into hospital for an unforeseen emergency medical treatment, the cost of looking after your pet. There is usually a policy condition that you must be hospitalised for a certain number of days (usually 4 consecutive days) before costs are covered.
- Holiday cancellation– The cost of your holiday if it is cancelled because your pet needs emergency lifesaving treatment close to the start of your holiday.
- Overseas vet fees – The cost of emergency veterinary treatment for your pet if you take it abroad. Some pet insurance policies will cover additional costs such as loss of pet travel documents or emergency expenses abroad if you’re delayed returning to the UK due to your pet going missing or needing emergency vet treatment.
- The most common claims are:
- Skin Problems
- Bone Fractures
- Wounds
- Arthritis
- Muscular Skeletal Issues
- Gastrointestinal issues
- Hip dysplasia
- Cruciate ligament ruptures
- Tumors, lumps and growths
- Viral infections
- Foreign bodies
- Chronic illness and diabetes
A pet life insurance policy covers end-of-life costs for your animal. This can include burial or cremation expenses and even bereavement counseling for you and your family.
- Pre-existing conditions
- Routine care/Wellness exams
- Preventative care
- Spay/Neuter
- Vaccinations
- Exclusions
Pre-existing Conditions: Hereditary or congenital conditions and certain medical conditions may be considered pre-existing. Look to see if the conditions are considered curable (stable or controlled pre-existing conditions) or incurable (terminal pre-existing conditions). For pre-existing conditions considered curable, the company may choose to enforce a waiting period before coverage can begin. Conditions considered incurable such as diabetes or cancer may be excluded or may be covered on a limited basis.
NOTE: Although no pet insurance providers cover pre-existing conditions, some providers will cover curable conditions after a certain waiting period with no recurring symptoms. Also, pets with a pre-existing condition are still eligible for insurance, their coverage would only exclude the specific condition that already exists.
Pet insurance is generally affordable. Average pet insurance costs. How much you pay for pet insurance varies greatly. Monthly premiums can range from as low as $10 to higher than $100, though most pet owners can expect to pay between $30 and $50 per month for a plan with decent coverage
A pet health insurance policy that includes a wellness plan will typically help cover the costs of routine veterinary visits, such as exams and preventive care. Pet wellness plans, sometimes called a preventative pet care plan or routine pet care coverage may be optional on your pet insurance policy.
The size, breed, age, and geographic location of your pet all influence the cost of your insurance policy. The length of your policy and the company offering your plan also play a role. Finally, you get to determine what type of policy works best for you by selecting a quote that makes sense for your budget.
Pet insurance has advantages over setting aside money to pay for your pet’s care. For instance, it’s impossible to predict how much you might need for future veterinary expenses. Plus, you could empty your savings after just one incident. With pet insurance, there’s no limit to the number of claims you can submit up to your annual limit.
The younger your pet is when you enroll them, the more valuable insurance will be—but that doesn’t mean you shouldn’t enroll an older animal or one with hereditary conditions. Even though wellness visits—the most common costs for young pets—aren’t covered by most insurance plans, the lower premiums at younger ages likely make starting early worthwhile. It’s also good to establish a policy as soon as possible, since establishing new coverage is often far more expensive than continuing an existing plan.
1 out of 3 pets will need emergency treatment, and most Americans can’t afford unexpected veterinary bills. Pet insurance helps you afford these costs, so your pet always gets the care they need.
Pet insurance helps pay for your pet’s medical care, with many policies covering up to 90 percent of your vet bills. Maintaining your pet’s health can get pretty expensive these days, so a pet insurance helps to cover for your cat, dog or any other pet for veterinary expenses when they are sick or are facing any kind of medical issues – both minor and major ones
Conclusion
If you’ve been impacted by a large vet bill, you already know that pet insurance is definitely worth it. But you don’t wait to have a big bill before getting your furry family member covered. With CompareAquote pet parents have the power of choice and coverage that can be customized to best meet pet parents’ and their pets’ needs
