How to Choose the Best Pet Insurance
Pet insurance is purchased to help cover part of the cost of surgery, minor injuries, routine checkups and even dental care. It can also help pay for cancer, diabetes and allergy treatments. When shopping for pet insurance, do not sign up with the first company you find and do not pay anything until you know exactly what is covered.
- Establish what type of plan you are looking for. Accident insurance covers emergency visits for incidents such as car accidents, poisoning and accidents that occur after hours. Standard or basic coverage will cover treatment and medication for injuries and illness. Common procedures are usually not covered under a basic policy. The full scale plan usually covers surgery, treatment and medication for illness, injury, emergencies and well care.
- Talk to other pet owners and your veterinarian for pet insurance company recommendations. Internet research is also a good way to pick a reputable company. Find out how long the company has been in business and if they have an office in your area.
- Older pets are more expensive to insure than younger ones and certain breeds are at a higher risk of costly health problems than others. These factors will usually mean a higher premium. Another factor to take into consideration is whether your pet lives indoors or outdoors.
- Compare monthly premiums, deductibles, reimbursement percentages and the benefit schedule. Deductibles can range from $0 to $1,000; the higher the deductible the lower the payment. Some policies pay a limited amount per visit or incident. You would be responsible for anything over that allowed amount. With most policies, you pay the bill and are reimbursed from the insurance company, after deductibles are subtracted.
- Lifetime continuous coverage is important if your pet has a chronic problem like diabetes or cancer. This coverage continues from one policy term to another.
- Always read the fine print and ask any questions you may have. All policies are different, with some treatments and ailments either not covered or not fully reimbursed. Certain companies may require you to use one of the vets in their network and your vet may not be on the list.