Best Pet Insurance

dog wrapped in blanket

Pet insurance offers protection against unplanned expenses. When shopping, consider the monthly cost, deductible, and any limitations of the plan.

Overview

When shopping for pet insurance, it s important to know what to look for so you can easily compare products. Here are some considerations to keep in mind:

What is pet insurance?

Much like insurance for humans, pet insurance is a policy you can buy that will help pay for medical treatment for your pets. Pet insurance can be used for yearly check-ups, medicine to treat infections, treatment for physical injuries or illnesses, and sometimes even dental work.

Most pet insurance plans will provide coverage for dogs and cats since they tend to be the most expensive to treat, but some pet insurance plans also cover other pets like reptiles or birds. With most pet insurance plans, you will pay a monthly premium and for all types of care until you meet your deductible.

Is pet insurance worth it?

Knowing whether or not to spend money now to possibly save money in the future is always a difficult decision. However, the monthly cost of pet insurance is relatively low compared to the savings you'll see. With pet insurance, you'll be able to comfortably pay off any substantial costs you might see if your family pet has an accident, requires x-rays or surgery, or develops a chronic illness.

The savings will increase if you have multiple pets and you choose a plan that offers discounts for insuring more than one animal. While you may have enough money to pay for planned expenses like wellness exams and flea medication, pet insurance offers you some protection to help pay for those unplanned, emergency expenses for your pets.

What are the important features of pet insurance?

When shopping for pet insurance, you will want to look at several key features. You will want to consider the cost of the monthly premium, the rate and types of deductibles, the reimbursement rate, and any annual or lifetime limits.

A premium is a set amount you will pay each month to your insurance provider regardless of whether or not your pet needs veterinary care. Premium rates vary significantly between policies, so you will want to research the plan to find out the exact rates.

The deductible is the amount you are responsible for paying out of pocket before you are reimbursed any money. Deductibles usually reset annually, but some pet insurance deductibles are based on the type of injury or illness. If your pet has the same injury more than one time, you will only pay the deductible on that injury once.

The reimbursement rate is what the insurance company will pay you for medical care after you have met your deductible.

There are a variety of limits on policies. Some pet insurance policies have limits on the amount you can be reimbursed based on the illness or injury and others have annual or lifetime limits.

cat waving

What makes the best pet insurance?

The best pet insurance is the one that will help you financially when your pet needs medical care. Rather than worry about costs, you can focus on what's important: your pet's health.

Different pets require different types and levels of care, so the best plan will depend on your pet. You will want to consider the type and breed of your pet and how often your pet typically sees the vet. If your dog or cat is older, it may require more frequent vet visits. In this case, a more comprehensive plan that does not have an upper age limit on new enrollments may be the best plan. However, if you have a younger animal, you may want to look at a plan that does not have lifetime caps on reimbursements.

You should also consider the ability to customize your plan when choosing the best pet insurance. While you may only be interested in accident protection this year, you may need to treat your pet for a chronic illness in the future. Rather than shop for an entirely new plan, consider if the plan you choose will let you customize your pet's care in the future.

Pet Insurance FAQ

So how do you choose the pet insurance that s right for you? These are the questions consumers are asking when shopping for pet insurance.

Is pet insurance accepted everywhere?

Pet insurance is accepted by licensed veterinarians. When you go to the vet, you will be responsible for paying the entire bill, and then you will submit a claim to your pet insurance company for a reimbursement.

What does pet insurance cover?

Pet insurance will cover different services depending on which type of plan you purchase. Common plans are for wellness, accidents, illnesses, or some combination of the three.

What is not covered by pet insurance?

Pet insurance does not usually cover treatment for any pre-existing conditions, which would be anything that is documented on your pet s medical history. The most common pet insurance plans also do not cover routine wellness checks or medicines, but you can often buy an add-on policy to cover these services if you would like.

dog wearing a cone

Final Thoughts

Deciding on a pet insurance policy comes down to how much protection you want for unexpected vet bills. If you consider your budget, the cost of the monthly premiums, deductibles, and coverage details, you can find the perfect pet insurance policy for the animals in your life.


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