With everything else increasing in prices nowadays, pet insurance plans are becoming popular. Many pet owners are considering taking out this kind of insurance for their favored pets in order to save health care costs especially when their pets get sick or injured.
There are many pet insurers out there. Many of them are in cutthroat competition in offering every possible insurance deals they can think of that it has become quite confusing in choosing who among those plans is the best.
In choosing the best pet health insurance, it is smart to do pet insurance reviews.
Here are some important things to know that you should consider while evaluating this insurance plan:
1. Pet Insurance Differs
There are many types of insurance plans for pets out there and they have different insurance coverage. You must make sure that you know and understand exactly what the plan covers. Most policies for this insurance just cover illness and injury. Make sure to check whether routine care such as annual exams, vaccinations, teeth cleaning, and blood and urine testing are part of the policy or can be added options.
2. Pet’s Age and Breed Matter
A pet’s age and breed can influence and determine the cost of a pet health insurance plan. You must take into account your pet’s age and breed. It is more expensive to insure older pets than younger ones. Depending on their breed, some pets may not qualify or are non-insurable if they are older than a certain age. Moreover, there are certain breeds that necessitate higher premiums for they are at a higher risk of more frequent and costly health problems than others.
Some other factors to be considered that can affect the insurance are your house location and whether your pet lives indoors or outdoors.
3. Compare its Prices/ Costs
Research and compare monthly premiums, deductibles, the reimbursement percentage, and the benefit schedule. Different insurers have different ways of setting the price, so always get a pet insurance quote for your specific circumstances to compare between insurers.
4. Consider the Excess
Some pet insurers include a high excess on their policies. This is their way to save them money when it comes to paying out claims.
Basically, the excess is the amount that you have to pay each time you have to claim for a certain condition, so when you choose a cheaper product with a higher excess, this could actually end up costing you more money.
5. Learn How It Works
All pet insurance plans enable you to make use of any licensed veterinarian or animal health clinic in the country or even in other countries if you’re traveling. You can use any licensed veterinarian you want for all pet insurers will allow claims from any licensed veterinarian.
6. It Does NOT Cover Pre-Existing Conditions
Pet owners will have to pay 100% for any excluded conditions that are not covered by the policy. One such exclusion is pre-existing conditions.
7. Veterinary Bills Are Paid Out Of Your Own Pocket.
Because this insurance is considered a form of property insurance, you must settle your veterinary bill first out of your own pocket. Then you can submit your claim to your insurance company for reimbursement.