7 out of 10 families own a pet, and they do their best to ensure that their furry friend stays healthy. It’s no surprise then, that many people take out insurance policies for their companions.
Some policies offer broad coverage, while others have limited benefits. In either case, having pet insurance takes a huge financial burden off your family when your pet needs medical attention. If you’re wondering how to choose pet insurance, read on for some guidance.
Budget
While pet insurance is an excellent way to protect your furry friend, it can be very expensive. Plans can run up to $90 per month. That means you’ll end up paying over $1,000 for a year’s coverage.
If you have a pure-breed dog with special needs (such as hypothyroidism or cancer), you’ll need to pay even more for comprehensive insurance. The team at FindaPlan has a full breakdown of the costs associated with various plans and breeds. They also offer tips on how to choose the best pet insurance to keep your animal protected.
Pet Insurance Policy
There are three basic types of plans: complete, comprehensive, and accident-only.
A complete plan covers essential health benefits, such as routine checkups and preventive care. They also provide coverage for exam fees and emergency care. Plans with this feature are the most expensive but may be worth it if your pet has a chronic condition or requires ongoing treatment.
Comprehensive plans offer coverage for medical treatment, but they don’t pay for preventative measures. The cost of comprehensive plans varies depending on what diagnosis options you choose to add to your policy.
Accident-only policies will only pay out when your pet has an accident. These policies don’t cover animals who become ill.
Deductible
A deductible is the amount you pay before your insurance company pays.
Some pet insurance companies have a per-incident deductible. Each time you make a claim, you’ll have to pay a flat fee before they can pay for treatment. You must pay the per-incident deductible at the time of service.
Veterinarian Requirements
Many pet insurance plans require you to use a specific veterinarian. If this is the case with your plan, it’s important to find one that’s covered by your policy. For example, if you’ve chosen a plan that only covers vets within a certain distance of your home, then you would want to find a vet close by.
Learn How to Choose Pet Insurance
The most important thing to consider before buying pet insurance is what kind of coverage you need. If your pet is older or has a pre-existing condition, then it might be worth it to get a complete coverage plan. If you have a healthy pet and enough savings to cover vet bills, then an accident-only plan might be right for your situation.
Now that you know how to choose pet insurance explore our lifestyle articles to learn more about how to keep your whole family healthy and happy.
