September 27, 2022

10 Things You Need To Know About Pet Insurance Before You Buy It

Just like any other product, you should take your time shopping around for the best pet insurance deal before you buy it. The right plan can mean the difference between your pets getting the care they need and having to spend thousands of dollars out of pocket on emergency vet care. In this article, we’ll cover some of the most important considerations when shopping around for pet insurance, so you can make an informed decision and get the coverage your pet needs at an affordable price.

1) How much does pet insurance cost?

On average, pet insurance costs $30 to $50 per month for dogs and $10 to $25 per month for cats. But, keep in mind that these are just averages and your pet’s monthly premium could be higher or lower depending on a variety of factors. For example, if your dog is 10 years old, it will have different coverage needs than a 5-year-old dog. That said, there is no one-size-fits-all solution when it comes to finding the best insurance plan. The best way to find out what plan will work best for you is by speaking with an expert who can guide you through the process and help answer any questions you may have.

2) Does my dog/cat qualify for coverage?

Before buying pet insurance, you’ll want to make sure that your animal qualifies for coverage. Most companies require that your pet be up-to-date on its vaccinations and routine check-ups. You’ll also need to provide proof of a microchip or spay/neuter surgery. Some breeds of dogs and cats are excluded from coverage, so be sure to check with the insurer before enrolling your pet.

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3) Are there any exclusions on coverage?

When you’re buying pet insurance, it’s important to be aware of any exclusions that might be in the policy. For example, many policies exclude coverage for pre-existing conditions, so if your pet is already sick or injured when you get the policy, it likely won’t be covered. Other common exclusions include hip dysplasia, congenital conditions, and behavioral problems.

4) What kind of deductibles are there?

Pet insurance typically has two types of deductibles: per-incident and annual. A per-incident deductible is a set amount that you pay for each covered veterinary service, while an annual deductible is a set amount that you pay each year toward covered services. Some policies have both types of deductibles, while others just have one or the other. 

5) Can I add an exclusion or pre-existing condition clause?

If you’re considering buying pet insurance, there are a few things you should know before making a decision. Exclusion and pre-existing condition clauses are common in pet insurance policies, which means that your pet may not be covered for certain conditions that they develop or have been diagnosed with in the past. Be sure to read the fine print of any policy you’re considering so that you’re aware of what is and isn’t covered.

6) How do annual limits work?

Your pet insurance policy will have an annual limit, which is the most money the insurer will pay out in a policy year. Once you reach that limit, your coverage for that year is exhausted and you’ll have to pay any additional veterinary bills yourself. That’s why it’s important to understand how annual limits work before you purchase a policy.

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7) Do all the premiums have to be paid up front?

No, most policies will have you pay premiums monthly, although some may require that you pay annually. 

Policies typically have a deductible, which is the amount of money you have to pay out-of-pocket before your coverage kicks in. 

Once your deductible is met, your policy will cover a percentage of veterinary bills. 

The exact coverage will depend on the insurer and the policy you choose, so make sure to read the fine print before buying a policy.

8) What happens when you renew our policy?

When you renew our policy, you need to make sure that our contact information is up to date and that you understand the coverage. you also need to update our credit card information and make sure that your coverage limits are still appropriate. If you have any questions, you should contact your agent or broker.

9) Are there any co-pays with treatments and checkups?

Yes, there are typically co-pays with treatments and checkups. The amount you’ll pay will depend on your policy and the provider you use. Be sure to check with your insurer beforehand so you know what to expect.

10) How much can I expect to pay in deductibles per year?

Pet insurance is a lot like human health insurance in that you have to pay deductibles, copayments, and coinsurance. The amount you’ll pay in deductibles per year will depend on the plan you choose and the amount of coverage you want. Generally, the higher the deductible, the lower your premium will be.