When it comes to choosing a pet insurance policy for your pet, the choices that are available can be overwhelming. There are different levels and types of coverage, and knowing the differences can be challenging. So, what should you look for and how do you find the right plan for your furry friend?
Who Should Get Pet Insurance?
The simple answer is, any pet that qualifies should have insurance. Signing up for pet insurance when your pet is as young as possible is the best way to get the most value out of your policy, but older pets and those with pre-existing conditions will benefit from coverage as well. The benefit to enrolling younger pets is that they are usually offered lower rates and are eligible for more plans than older or sick pets.
What Are You Looking For?
Before you start seriously shopping for pet insurance, you should know what it is that you’re looking for. Pumpkin pet insurance and other insurance companies will need to know a few things about your pet before they can give you a quote for coverage. There are some details you’ll need to keep in mind while looking around:
- How many pets
- What type of pets (cats, dogs, etc.)
- Gender of the pet
- Pet’s age
- Pet’s weight
- What breed your pet is
- Whether or not the pet is a mixed breed or purebred
- Whether or not your pet has any pre-existing conditions
What is Covered by Pet Insurance?
Pet insurance is a valuable tool to have, as you won’t have to be solely responsible for the cost of your pets’ veterinary care. While you will be reimbursed for some of your vet bills, not all services are covered. There is a wide range of options available, making comparing plans a challenge.
Some plans cover illnesses and accidents, while others will only cover treatments that are the result of an accident. While the accident-only plans do come at a lower cost, they are of no help if your pet becomes sick. Keep in mind that many insurance plans have exclusions or things they don’t cover. You may run into age limits, and some policies are not applicable to the treatment of pre-existing conditions. Many pet owners prefer to look for a plan that includes annual vaccinations, wellness visits, and routine care.
Ratings and Reviews
The best way to get a true picture of what a company offers and how they treat their customers is by reading their reviews. With a quick Google search, you can find out how other customers rate their experiences and see if there are any red flags before you even get a quote from them. Make sure to look into both the claim management and the customer service quality for a better overall view of the company.
Avoid Slow Reimbursement Speeds
One of the biggest reasons pet owners sign their pets up for insurance is so that they are reimbursed for unexpected medical costs that they may not otherwise be able to afford. Sure, paying to feed your pet may be in your budget, but if they get into the trash and swallow something, an unexpected $5,000 vet bill is not as easy to cover.
Most people live with a monthly budget, so it’s important to find a pet insurance company with a decent turnaround time, as far as reimbursements go. You will usually see a reimbursement time of 14 days or less. This is important because it allows you to use that money for bills and other expenses sooner. While researching, be sure to check customer reviews to see how long other people had to wait to get paid back for their claims.
While it can be tempting to choose the company that has the lowest deductibles, that isn’t always the smart move to make. The truth is, higher deductibles generally save you more on your annual premiums. You’re going to be paying the premiums each month, regardless of how your pet is feeling or if you’ve needed vet treatment.
However, you’ll only need to pay your deductible when you need care that is serious enough, which should be much less often than you pay your premiums. The math for your situation will be unique, but you’ll often find that taking the higher deductible is the more economical choice.
Finding The Right Pet Insurance Plan This Spring
When you love your pet, you want to do everything in your power to keep them safe and healthy, and getting the right pet insurance plan is a solid step in the right direction. Once you know what kind of coverage you want, and what specifics you need from your policy, you’ll be able to find a policy with premiums that match your budget. The right plan for you will be the right plan for your pet.