Like you, your pet too is vulnerable to various health scares and accidents. This is why you should protect your pet’s health by opting for a pet insurance. However, before you purchase a pet insurance, you must be aware of the following factors, so that you can make an informed and secured choice.
Out of pocket costs The out of pocket costs that you have to pay for the insurance is not same for all the pets. It varies according to the breed, age and any health conditions of your pet. Based on these factors your pet insurance company will decide the deductibles, monthly premiums and copays you have to incur.
Claim process Usually for a pet insurance, you must make all the payments to your veterinarian, and then submit all the relevant bills and documents to your respective insurance provider.
Coverage restriction There are certain kinds of health conditions that might be excluded from the pet insurance coverage plan. This can mostly include health issues which have been present since the pet’s birth or genetic diseases. Your pet insurance also might not include periodontal diseases, as they are considered to be health conditions which can be easily averted.
Types of pet insurance Usually the insurance market offers 3 types of pet insurance
- Lifetime cover This kind of insurance covers your pet for the rest of their life. You just have to make timely monthly payments and incur annual fees for renewal.
- Accident only Like the name suggests, such kind of insurance only covers medical expenses if your pet meets with an accident.
- Per condition If you are looking for an affordable pet insurance, the consider per condition. Although these have an upper limit on every condition and only last for one year.
Age Your coverage might have age caps, i.e. if your pet happens to be too old, then your application for a pet insurance might not be accepted.
Breed Some pet insurance providers can only offer a basic coverage for certain types of breeds. This might be because they could possibly be more susceptible to diseases, which increases the financial risk for the provider.
Renewal If you decide to renew your pet insurance, you might observe a change in your coverage plan. This means that the insurance organization can potentially cut down on the number of services they were providing you in the first year.
Additional services Your pet insurance company might allow you to expand your pet’s coverage plan if you opt to pay for a wellness care plan. Such plans include coverage for things like yearly checkups and medical tests, vaccinations and spaying or neutering.