Many pet owners are often surprised when their pet insurance claims are not covered. Pet insurance policies vary between companies, therefore it is extremely important to read and understand what is included and excluded before purchasing the pet insurance policy. Adequately researching pet insurance companies and their policies is crucial before selecting the pet insurance plan and company that works best for your pet and your wallet.
It is important to keep in mind that every pet insurance company may have different pet insurance coverage. Just because a policy at one pet insurance company may cost less than another pet insurance company, the coverage may not be adequate or even remotely the same. Avoiding the unpleasant surprise of having a pet insurance claim denied is best done by reading and understanding the pet insurance policy exclusions and limitations.
Some pet owners skim through the pet insurance policy and choose the least expensive coverage. Choosing the least expensive pet insurance policy may not always be the best. In some cases, choosing the cheapest pet insurance policy means choosing the policy with the least value as well. Certain conditions may not be covered and the pet owner is unexpectedly left to pay a large sum of the vet bill. Not reading the pet insurance policy in its entirety may also cause some concerns. It may lead to misunderstandings later on if certain conditions for coverage were not approved by the pet insurance company. Reading the pet insurance policy is extremely important and by doing so, the owner is aware of what they will be paying for and the care their pet will be receiving.
Other pet owners may choose a pet insurance plan depending on what a friend may have recommended. In fact, each pet and owner is different, so it is important research and choose a pet insurance policy that works best for you. Understanding key pet insurance terms, such as which conditions are covered, if premiums increase with time, and how long certain conditions are covered are both useful and important. With some pet insurance companies, conditions such as diabetes and cancer may be covered for a certain amount of time, or in better cases, for the life of the pet. Some pet insurance companies will only cover the first year of treatment for long-term conditions. Other companies, like Trupanion pet insurance offer coverage for chronic conditions for the life of the pet. Having pet insurance coverage for chronic problems would substantially decrease the medical bills because over time, they can become catastrophically expensive.
Some pet insurance plans have benefits schedules. This means that pet insurance claims are not based on the bill received from the vet, but based on a compiled list of expected treatment costs. If the pet insurance policyholder receives a vet bill far larger than the pet insurance company’s expected costs, then the pet owner must pay the difference. Those who didn’t fully read their pet insurance policy can get stuck with the very expensive remainder of a “covered” vet bill.
Ultimately, it is important to choose a pet insurance plan carefully and to fully understand the pet insurance company’s policy. With recent advances and increasing costs is pet healthcare, having pet insurance can be very beneficial for your pet. Understanding your pet’s medical needs and providing them with optimal care is important to pet owners. Optimal care comes at a high cost, and looking into pet insurance coverage can only be beneficial. It is important when researching pet insurance companies that reading the policy comes first. Pet owners should know exactly what they are getting into with their pet insurance company, so doing research and knowing what you get for your money is important before signing the dotted line.