It is important to do thorough research when looking for a pet insurance plan. Pet insurance will protect your pet and your wallet in case of an accident which means you won’t have to break the bank. Pet insurance is a good money saving plan, especially for accident-prone pets. When researching pet insurance, it’s a good idea to learn a few key things before buying a pet insurance policy for your pet.
Many pet parents only realize the importance of pet insurance when they have already gotten a large vet bill and it’s too late to get a pet insurance company to pay for it. People like to think they are above the odds and their pet will never get hurt or sick, but incidents are unpredictable which is why pet insurance is a good idea. Plus, pet insurance companies in the U.S. cover up to 90% of the veterinary bill which would greatly lighten the burden of a large veterinary bill.
You may realize the importance of getting pet insurance for your four-legged friends when you are aware of the risks your pet faces. Begin by researching is your pet’s specific breed and hereditary illnesses to which that breed is prone. This is very important as many pet insurance companies exclude hereditary conditions or exclude the breed altogether. Before signing an agreement with a pet insurance company, be sure you know what is covered as far as hereditary conditions.
Some pet insurance companies increase the monthly premium when pets reach certain age brackets. This is a key point to consider when selecting a pet insurance company. Some pet insurance companies’ cost increases are very large, while other pet insurance providers do not have age-related cost increases.
Pet insurance companies often try to make extra money by adding penalties and limitations. Be sure to check if the pet insurance company has penalties for filing claims. Some pet insurance companies penalize you for filing too many claims by raising your pet insurance premium. Along with this, it is important to find out if there are claim limitations. There are pet insurance companies that limit claim amounts or how many claims that can be filed in a certain time period. If you have a pet insurance policy with low claim limitations, then you will be stuck when you are hit with a very large vet bill.
When comparing pet insurance policies, be sure to look for annual limits. You will find that many pet insurance companies have dollar limits per year. It’s important to take this into consideration. For example, you may have a pet insurance policy for ten years and your pet has two big accidents during this time. If both of those accidents happen during same calendar year, then it might not all be covered by some pet insurance policies because of annual limits.
Finally, a key aspect of pet insurance to consider is reimbursement. Pet insurance companies vary on the amount they repay and turnaround time. Research the average reimbursement turnaround times for all of the pet insurance companies you are considering. Secondly, be sure that the pet insurance company will reimburse the appropriate amount. Pet insurance companies that use benefits schedules sometimes only reimburse a small percentage of your bill because they refer to outdated cost guidelines. If your pet insurance company of choice uses benefits or fee schedules, be sure to check with your veterinarian to see if the costs seem correct.
All pet insurance companies will only advertise their selling points which is why it’s a good idea to conduct your own pet insurance research. Conclude your pet insurance search by reading actual reviews and testimonials of each pet insurance company to learn what other customers think of each pet insurance company. By reading reviews from real people, you will be able to find the pet insurance company that best fits your needs.