You always want the best for your pet, and that's where pet insurance steps in – it's like a safety net for their health. Understanding it can be tricky, though. Here’s a short guide to help you navigate!
1. Identify Your Goals
Whether it's for emergencies, preventative care, avoiding surprise costs — your goals will guide your insurance choices.
Accident & Illness Coverage: This plan covers BOTH accidents and illnesses. If your pet gets injured or develops a medical condition, an accident & illness plan can help with the expenses of treatment and medications. Some of these policies might exclude veterinary examination fees, or offer additional benefits as optional add-ons, known as endorsements - make sure you ask about this to avoid unexpected expenses.
Accident-Only Coverage: This plan focuses ONLY on emergency vet care after an accident. If your pet accidentally swallows something harmful or has an injury, accident-only coverage can assist with the associated vet costs.
Preventative Care/ Pet Wellness Maintenance Coverage: This plan is not exactly insurance, but it's a great add-on to one of the two insurance types above. Let's say you have a pet insurance plan, but you want a little extra help covering the regular check-ups and preventive care your pet needs.
Below is a quick overview of the types of insurance, and what’s typically included, but be sure to check with the provider for more details.
2. Make Sure You Can Cover Emergency Expenses:
Direct Vet Pay: With most insurance, you pay the vet upfront and later get reimbursement from the insurance company. But what if you cannot cover the upfront costs? Emergency treatments can be costly, even surpassing $10,000. If you worry about paying for emergency vet expenses, pick an insurance company with Direct Vet Pay. This way, the insurance company takes care of upfront costs, making sure your pet gets timely care.
Annual Limits: Some plans have a limit on how much they'll pay in a year. If you're worried about that, find a plan without limits so your pet can get all the care they need.
3. Limits, Reimbursement, & Deductibles
Annual limit: Imagine your insurance has a cap at $5,000 per year. If your pet's medical bills reach $6,000, the insurance will cover up to $5,000, after you pay your deductible and percentage of reimbursement.
Percentage of reimbursement: Suppose your plan covers 80%. If your vet bill is $200, the insurance chips in $160 (80% of $200), and you're left with a $40 bill.
Deductibles: Picture a $100 deductible. If your pet's expense is $500, you pay the first $100, and the insurance covers the remaining $400. A higher deductible means you pay more initially, but your monthly insurance cost might be lower.
4. Consider Your Pet's Age & Health:
If your pet is older or has some health issues, the cost of insurance might go up. Getting pet insurance early is a smart move. It boosts the chances of covering future claims and might save you money, depending on your insurance company.
5. Understand Your Pet's Breed & Health Risks:
Certain breeds may have specific health risks. Choose an insurance plan that understands these breed-related issues. For example, if you have a Labrador Retriever, consider coverage for common issues like hip dysplasia.
6. Think About Extra Stuff:
Decide if you want coverage for routine check-ups, routine dental care, or special therapies. If your pet needs behavior treatments, make sure these extras are included in your plan.
7. Compare & Customize:
Explore different insurance companies to find what they offer. Customize your plan by picking options that fit your budget and your pet's needs. Don't hesitate to ask questions – that's what the insurance people are there for! Here are a few initial questions you can ask Pet Insurance Questions
So, there you go! Remember, it's all about making sure your pet stays happy and healthy! 🐾
If you have any questions, feel free to reach out to us at hey@petzbe.com
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