What Every Pet Parent Needs to Know about Pet Insurance
Why Do I Need Pet Insurance?
Treatment options continue to expand for our beloved pets and the standards of care that we pet parents expect today are vastly different than what was expected 20 years ago. Our pets are valued members of the family and we want – and expect – them to be able to receive high quality care from trusted professionals so we can ensure that they live happy, healthy lives.
But, this state-of-the-art care comes at a price. The cost of veterinary care has increased significantly over the past two decades, although it is still a HUGE value when compared with human medicine! Even so, it’s important to plan ahead for your pet’s healthcare expenses, both expected AND unexpected! Pet insurance can help reduce the stress of having to pay for veterinary bills if your pet experiences an injury or major illness, and can even help make routine care more affordable.
Choose an Option That's Right for You
Options in pet insurance have grown tremendously in recent years and it’s important to be a good consumer when choosing a pet insurance plan because they all have different monthly costs and reimbursement schedules. Some plans can offer a low monthly premium cost with a moderate reimbursement schedule, while others can have larger monthly premiums, but will pay up to 80% of veterinary expenses. You can tailor a plan that works best for you and your family.
How Does Pet Insurance Work?
Generally, your plan will have a monthly premium and then a deductible that you must pay either per year or per incident, before coverage kicks in. After that, your plan will either reimburse a flat percentage of your expenses or up to a certain amount based on a chart of different diagnosis codes. Usually, the pet parent is required to pay the expenses up front and then submit their claim for reimbursement, but most claims are paid very quickly by the providers and many even do direct deposits.
When Should I Enroll My Pet?
Many pet parents make the mistake of looking into pet parent when their pets are aging or have been recently diagnosed with a serious condition and then are disappointed when they find out that their pet’s expenses won’t be covered. The best time to enroll in pet insurance is when your pet is young! The earlier the better, as it will be less likely that you will be turned down for any pre-existing conditions. Many plans also have waiting periods to be covered for certain conditions such as a torn cruciate to prevent people from signing up for insurance right before they know their pet will need surgery. Keep in mind that even young puppies and kittens have been known to have emergencies, so you never know when having an insurance plan in place can be a lifesaver.
For more information and comparisons of different pet insurance options, visit one of these websites: