Deductible - Frequently Asked Questions
Insurance terminology is sometimes hard to understand, but we want to help! We put together an overview on deductibles to explain the ins and outs, whether you’re completely new to all this insurance stuff, or would simply like a clearer understanding of how Trupanion deductibles work.
What is a deductible?
The deductible is the portion of your vet bill that pay before 90% insurance coverage begins.*
Deductibles under the Trupanion policy are lifetime per incident. This means we apply it only once to a condition during the lifetime of your pet. If your pet is very unlucky and experiences several unrelated issues, the deductible applies to each incident. However, if one of these conditions requires repeat veterinary visits for more diagnostic tests, treatment, or medication, then you don't need to worry about meeting the deductible again.
How deductibles work
When you file a claim for a covered condition, you are responsible to pay a portion of your veterinary bill. This includes your deductible amount, any ineligible expenses (such as the exam fee and wellness care), and 10% of the coverable portion. We’ll take care of the rest!
When you insure a pet with Trupanion, you get to choose any deductible amount from $0 to $1,000 for each pet. Custom selecting your deductible allows you to adjust your monthly premium (the amount you pay each month) so you pay the price that you're comfortable with.
What deductible should I choose?
When selecting a deductible, start by thinking about the answer to this question: “If my pet experiences a serious ailment, how much can I afford to put toward the vet bill?” This helps you determine a good starting point.
Other factors to consider:
- If you have a young puppy, kitten, or newly adopted pet, you might want to choose a low deductible since your new pet’s behaviour is unpredictable.
- If your pet is older and less likely to get into mischief, you might choose a deductible on the higher end of the range that you can afford.
Why you should file a claim, even with a high deductible:
Let’s say your pet has a minor incident and the veterinary bill is $100, but your deductible is $250. Still file a claim for the incident so that the eligible items on your bill can count toward your deductible. If your pet needs further care for the same condition, you are that much closer to reaching the deductible and then receiving coverage payout for subsequent claims.
You can change it at any time
We understand that financial situations change, so we allow you to change your deductible at any time without penalty. Perhaps you realize your pet is an accident waiting to happen and would like a lower deductible, or you’d like to lower your monthly premium by increasing your deductible — either way, we can help!
Please note that waiting periods apply when you change your deductible. During that time, the previous deductible applies to any conditions that may occur. Simply give us a call, and we can help you pick your perfect price and explain how this change may affect any previous claims you filed.
Still have questions? Feel free to call our pet-loving Customer Care team any time! 855.591.3190