Pets bring joy and companionship to the lives of their owner. Therefore, if you love their company, you must do your best to keep them healthy and happy. Unfortunately, vet bills can get too costly for the owner. So, when the pet becomes ill or gets involved in an accident, you may need to dig deeper into your pocket to get it treated. However, if you have a vet insurance plan, it can greatly mitigate the vet cost.
The plan’s cost, the coverage type, the deductibles and the reimbursement levels are some of the things you must look out for when you are considering to take a pet insurance cover.
Unfortunately, pet insurance is a few decades old. The first policy was issued in 1982, so very few people understand how pet policies work. There are many best pet health insurance plans to choose from. They include comprehensive insurance plans and accident and illness plans. Also, there is the routine wellness plan and accident-only coverage you may need to consider. The cost of each plan varies depending on many factors. Also, the benefit you derive from each plan may differ, so you must look at the details of each plan and the features before you choose a plan that works for you and is best suited for your pet. Here are the things to look for in the pet insurance plan.
1. The Cost
Pet insurance saves you from settling vet bills out of pocket. But you must buy the correct plan if you want to enjoy the benefits of the cover. In addition, you must be willing to part with some money every month to get the coverage running. The cost of policies may be based on several factors; the amount of coverage, the pets breed, the type of coverage. But the pet insurance cost will mostly depend on the company. It ranges from $30-50 per month.
Note that the cost of a plan will depend on the breed type. Plans for pure breeds are more costly compared to those for mixed breeds. Also, some plans charge differently for domestic longhair and shorthair breed cats. Thus, long hair attracts cheaper rates compared to short hair breeds. While the cost for exotic breeds is higher compared to other breeds.
2. Coverage Type
It is another vital factor when looking for a pet’s insurance plan. It determines the plan’s cost and the extent of coverage you get. A policy that covers routine care and treatment may cost more than one that takes care of an accident. The types of coverage plans available are:
A comprehensive plan– combines the accident and illness policies and routine care.
Accident and illness– the policy will only pay for the vet bills for accidents such as sprains, poisoning, and ear infections. The policy may also cover hospitalizations, lab tests, emergency care and medication.
Accident-only coverage – covers medical expenses in the event the pet suffers from an accident. It caters to a broken bone, diagnosis, hospitalization, x-rays, emergency care, and prescription medication.
Routine wellness plan- it covers wellness exams, vaccination, heartworm prevention, and routine care.
3. Deductibles of a Plan
You will need to consider another feature when looking for a pet insurance plan. It refers to the out-of-pocket amount you pay to a veterinarian before the coverage starts. The deductibles may range from $0 to$1000. A plan with a higher deductible amount may require that you pay less for the plan. In some cases, coverage begins once you meet the deductible needs and choose a reimbursement option that may range from 70%-90 % of the expense covered in the plan.
4. Reimbursement Levels and What the Plan Covers
Some policy plans are reimbursement-based. Therefore, you will need to pay upfront for the pet’s medical bill and later submit your claim to the insurer. Each plan comes with an annual limit option that depends on the budget and needs.
A pet plan protects your pet from pre-existing conditions, training injuries and accidents. Check out what the policy covers and any inclusions and exclusions. For instance, an accident-only policy may not cover illness or intentional injuries.
Of course, you are free to choose a plan that your budget can support. However, plans that cover both accident and illness are recommended. They guarantee the health of your pet. As such, it is vital to pay attention to the cost of the cover, the type of the cover and whether there are deductibles before the cover commences. Also, check out the guidelines of the plan on reimbursements.
