Factors to Consider When Looking for Pet Insurance

Why do you need pet insurance? Why would my insurance deny a pet scan? Why pet insurance is important? Pet insurance is an appropriate way to protect your pet against unexpected costs,

Why do you need pet insurance? Why would my insurance deny a pet scan? Why pet insurance is important? Pet insurance is an appropriate way to protect your pet against unexpected costs, especially when your pet is sick or injured. The best pet insurance for pre-existing conditions comes with other basic coverages like congenital, injuries, and hereditary packages, which differ based on the prices, benefits, and extras.  Here we’ll look at the best pet insurance and why you need to cover your pet.  

Let’s get started!

 What does pet insurance mean?  

Pet insurance is a special health insurance policy for a pet that pays medical bills and other unexpected expenses. As a reimbursement plan, it always pays for upfront pet expenses and even submits a claim to the insurance firm.

Some pet insurance companies hire a vet directly to keep you from using your money.  However, most pet insurance companies require a client to have a deductible fee before closing a deal with them. 

As a starter, you need to pay nearly $500 for a vet bill before engaging with pet insurance.  Though you pay a deductible fee, your pet insurance plan won’t cover 100 % of the vet bills. So, choose a reimbursement plan that suits your needs. Reimbursement packages range from 70% to 90% of your vet bills.

What does pet insurance cover?   

Things covered by pet insurance will depend on the type of plan you choose. Here are the different types of pet insurance plans:

·         Accident only plans

·         Wellness plans

·         Illness and accident plans

Illness and accident plans cover sickness or injuries like congenital conditions, cancer, bones, hereditary conditions, and more. Accident plans, on the other hand, covers accident-associated issues such as broken bone. 

You can also add a wellness plan to your pet insurance policy. By doing so, you reduce the annual expenses of heartworm treatment, vaccinations, and vet wellness visits. But remember, pet insurance won’t cover preexisting conditions, especially those conditions your pet had before joining the insurance company. So, your ultimate goal should be whether the insurance firm covers previous conditions or not.

What doesn’t pet insurance cover?    

The following are popular pet insurance exclusions:

Vitamins and food: Food isn’t covered in pet insurance but some companies cover prescription pet food.

Bills not associated with veterinarian care:  They include administrative or taxes charges

Grooming: If you take your pet to the spa for pampering, pet insurance won’t cover expenses such as shampooing or grooming.

Breeding expenses: Expense related to breeding isn't covered

Elective or preventive guidelines: Some plans don't cover elective or preventive guidelines like tail docking, nail trimming, declawing, or ear cropping.

Exam fees:  Some pet insurance companies often exclude exam fees from their coverage. The exam fee is the typical amount the veterinaries charge to see your pet.

Pre-existing problems:  When a pet shows some symptoms or injury before coverage starts, pet insurance won’t cover it. However, other pet insurance companies provide coverages known as pet pre-existing conditions to clients. For instance, Embrace Pet Insurance covers curable preexisting problems, especially if the medical records indicated no illness or injury for the last 12 months.

How do you find the best pet insurance?       

It’s hard to compare different types of pet insurance coverage across the competitive market. Things that make it even harder include pricing, coverages, and exclusions preferably when calculating the actual value of every plan. Here are factors to consider when choosing a pet insurance policy;

Choose the best insurance policy

Whether you want pet insurance that lasts for decades or one that cover your pet's illness, a comprehensive pet insurance plan is the right choice for you.

The plan covers several health-associated problems and wellness, but it’s a more expensive plan. However, it's worth considering in case you want a full plan at once. Here are the most popular pet insurance plans:

  Comprehensive coverage: It’s commonly known as the nose-to-tail policy because it covers injuries and accidents like treatments, chronic illness, diagnostic tests, surgeries, hereditary conditions, and surgeries. It also covers vaccinations and the routines of veterinary checkups.

Illness and accident coverage: This covers vet expenses for accidents plus illnesses like hereditary conditions, common illnesses, and serious illnesses. But it doesn’t cover wellness exams like vaccinations, routine veterinary visits, heartworm prevention, and flea. You can also sign up for the wellness plan to get a comprehensive plan.

Pet wellness coverage:  This covers wellness related to medical costs, including vaccinations, routine veterinary checkups, heartworm prevention, and flea. You can also add wellness merits to the illness and accident plan.

Choose a coverage you’re comfortable with

When buying a pet insurance policy, choose either a deductible, annual maximum, or reimbursement package;

Annual maximum coverage: Probably, you’ll have the choice of annual maximum payout coverage.  This is the total amount a person pays for pet insurance coverage pays yearly. Most pet insurance plan ranges from $5000 to unlimited payout.

Selecting an unlimited payout increases the premium fee, but don’t worry about the excess annual maximum payout, especially if your pet wants an extra treatment cost.

Reimbursement percentage: Select a reimbursement package in case you purchase the plan.  And remember, the lower the reimbursement status, the less you pay for the pet insurance premiums. Reimbursement packages range between 70% to 90%.

Deductible: The more expensive the deductible, the fewer months you pay for your insurance bill. The best deductible costs are $ 100, $250, and $500. Once you met your deductible, then submit your pet insurance policy for reimbursement. 

Companies like Trupanion provides outstanding lifetime per condition deductible. Once you become its client, you’ll start paying for deductible monthly per new condition without any extra fee yearly.

Check the pet insurance waiting periods

Generally, the waiting period is the period between the policy subscription and when the plan starts. Each pet insurance company has unique waiting periods. So, ensure you find one that matches your needs.

Some pet insurance companies such as the ASPCA Pet Health Insurance offer 14 days waiting periods. So, be cautious during waiting periods, especially for conditions like cruciate ligament problems.