Choosing pet insurance involves asking a lot of questions: do you have a cat or a dog? How old is your pet? Where is the best place to go when you need more quality care for your pet?
By comparing pet insurances, you know which insurance provides the best coverage for your pet and which one offers the best premiums for whichever package suits you best. As an online vet service, we are more than happy to provide an objective look at the best pet insurance for your dog or cat.
What is pet insurance?
Pet insurance provides partial or full coverage of veterinary expenses. These include the different types of insurance:
- Injuries only – If your pet gets injured, the insurance company will cover at least a portion of the cost of treatment.
- Injuries and illness – On top of accidents this type of policy also fully or partially covers your furry friend in the event of illness unrelated to an accident.
It’s important to note that some policies may exclude coverage of certain health issues, such as behavioral problems. When your pet has a pre-existing health condition, no insurance covers this.
Basically, preventive services are not covered by pet insurance. Here you can think of:
- Regular check-ups
- Vaccinations
- Annual blood work
- Checks of the teeth
- Flea treatments
If not included, you can obtain coverage for these services with separate supplemental coverage.
Keep in mind that no two insurance policies are the same. Therefore, always do your own research about the coverage, how high the deductible is and the maximum amount your pet insurance pays out.
How does a pet insurance work?
A pet insurance can help you when your dog or cat gets sick or injured, so that you don’t have to eat the high cost of needing to go to a vet. Your pet insurance covers (part of) these costs without you having to pay the whole amount yourself.
After paying the vet bill, you usually submit a claim to your pet insurance before receiving compensation.
Keep in mind that there is no guarantee that your request for pet insurance will always be accepted by the insurance company. Furthermore, it is important to consider whether taking insurance is the right solution for you. For example, know what the conditions of pet insurance are. We have listed them for you:
Monthly premiums for pet insurance
Cat or dog insurance is paid every month. This is called a monthly premium. The amount charged to your account varies depending on the situation.
Several factors affect the cost of your pet insurance. Those factors include:
- The type of pet you have
- Your pet’s breed
- Your pet’s age
- Where you live
- Your coverage’s deductible and reimbursement level
- Your policy’s annual payout limit
Reimbursement
When the pet insurance company pays you back, this is called a reimbursement. Some coverages will reimburse you for the full cost of treatment. Others will only pay a percentage. The amount you get back depends on your policy.
Deductible
We’ve already mentioned it, but the deductible also deserves its own heading. In fact, with many pet insurance policies, you’ll be dealing with a deductible. This is the amount you have to pay to the veterinarian yourself before your pet insurance will cover the rest of the bill.
There may be some conditions attached to the deductible:
- Annual – Resets at the beginning of each policy year
- Per condition/incident – You face a deductible for each new accident or illness within the policy year
- Per visit – The deductible applies to each visit to the veterinarian
If the vet bills do not exceed the deductible, you will not receive reimbursement. The amount of your deductible depends on your specific policy.
Payout limit
Your pet insurance policy may only pay out up to a certain amount. If a maximum amount is part of your insurance policy, you are responsible for any expenses that exceed this limit. The payout limit is reset at the beginning of each policy year.
Filing a claim
Before you get reimbursement, you need to file a claim. You can do this after paying your vet bill. If the claim is approved, the insurance company will reimburse the amount.
The amount you will be reimbursed depends on your policy:
- Reimbursement percentage
- Deductible
- Payout limit
What are the advantages of pet insurance?
Taking out pet insurance can certainly be worthwhile because, above all, it can save you costs, especially since accidents can happen unexpectedly and no one likes to incur equally unexpectedly high costs. We have therefore listed the benefits of pet insurance:
Pet insurance saves you money
Pet insurance is a small investment compared to the cost of extensive treatment at the vet. If your dog needs emergency care, your savings account can be empty in one fell swoop because the costs can add up. When you have pet insurance, you pay a lot less.
If your pet should ever need expensive treatment at the vet, pet insurance is a smart investment. Instead of having to pay the full amount yourself, your insurance company will help you out. This means you can actually save money in the long run.
You set aside a small amount each month
With pet insurance, you pay a premium each month, rather than having to pay a large sum at once. Because it’s not stored in an account, you also don’t have to remind yourself to save for any emergencies. So think of pet insurance as a reliable investment for your dog or cat.
It can save your pet’s life
Should you find yourself in a situation where your pet needs immediate help, you don’t want to be faced with the choice of whether you can afford this treatment. Let’s face it: you’d have enough on your mind and no one wants to be faced with such a terrible choice.
With pet insurance, that doomsday scenario will not come to pass, as your insurance will help pay for much of the cost.
Finally
When you take out pet insurance, you always have an insurer to help you pay for high vet costs. That way, you don’t have to worry when your dog or cat suddenly needs a blood transfusion or when they need stitches. No one likes to think about the possibility of their pet getting sick, but having pet insurance provides that little peace of mind that you can pay for unexpected vet costs.
Do you have any medical questions regarding your pet? Then schedule an instant video consultation with one of our qualified veterinarians.