Pet Insurance: Secrets The Insurance Companies Don’t Want You To Know

Veterinary fees are soaring, so many pet owners are considering pet insurance. This article will show you the pros and cons about pet insurance, what to watch out for, and help you decide if you need it. Lastly I’ll show you some simple tips to decreasing the likelihood of you needing pet insurance for your dog or cat.

Veterinary medicine and surgery has advance dramatically in the last 10 years. Specialty care for diseases such as cancer can easily cost the pet owner in excess of $5000. There now advanced diagnostics such as MRI, and referral surgeries such as kidney transplant; once fatal conditions are now treatable, but cost to you the pet owner can run into the thousands.

Fortunately, your pet will likely never need any of these advanced treatments. I’m of the opinion, that most people are better off putting money aside into a savings account; in most cases you are financially better off not having pet insurance. As opposed to spending $50 a month on pet insurance, put away $50 a month into a savings account. In 1 year you would have saved $600 for emergency veterinary care. Pet insurance deductibles vary from $100 to $250 per visit, so for your average veterinary visit, you wouldn’t be claiming insurance.

Pet insurance is not always the answer; as with other types of insurance, often when you need it the most you are unable to get it. There are many things to consider such as the monthly cost, the deductible, the exclusions, the surcharges, the payout limits, and penalties for filing more claims. Monthly costs vary from 30 to over 100 dollars per month. All insurance companies have deductibles which typically average $250- meaning you need to spend more than this amount to get any money back. Most companies have exclusions on pre-existing conditions and hereditary conditions; for instance if you insured your German Shepherd puppy who was diagnosed at 9 months with dysplasia you would likely not be covered by the insurance company. Most companies have a payout limit over the life of your pet, with limits per year; a large surgery will only be partially covered. The monthly premium will often increase as your pet gets older or as you file claims (which of course was your reason for having insurance in the first place).

In order to gauge whether or not you need pet insurance, you need to be asking yourself 2 big questions. How much would you be willing to spend if your dog or cat had a serious illness? Would you be able to pay all of those expenses yourself? If you would be willing to spend thousands of dollars in your pet, but you are unable to pay for it all yourself, then you are a candidate for pet insurance. In my veterinary practice I dealt with many pet insurance companies, the one which I felt provided the best value for pet owners was Trupanion.

Ultimately what you really want is to be avoid using pet insurance in the first place. This means keeping your dog or cat healthy in preventing more common diseases. Feed your pet a quality canned and dry food, along with some food you make at home. Only give the minimal number of vaccines as infrequently as possible, and avoid the excessive use of conventional medication. If possible use natural options with minimal side effects. Give your pet regular exercise and attention, including examining your pet weekly at home. It ultimately comes back to you being an involved and empowered pet owner by advocating for your dog or cat’s health- with or without insurance.

You should now see why veterinary fees are increasing and more pet owners are looking at pet insurance as an option. There are serious issues with many insurance companies, so before you purchase any pet insurance you need to be aware of the monthly cost, the deductible, the exclusions, the surcharges, the payout limits, and penalties for filing more claims. Lastly you should be able to follow some basic steps to keeping your pet healthy in preventing disease at home, avoiding pet insurance in the first place.

Evaluating Pet Insurance Plans: Important Things to Know

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.

How To Find Cheap Pet Insurance – The Quick Easy Way

Finding cheap pet insurance isn’t impossible but there are several things you should know before you start looking. Check out our quick guide to help you find an affordable pet health insurance plan and get the most out of your money.

How much will it cost?

The question on everyone’s mind when it comes to pet insurance. The truth is that the cost of coverage will vary depending on the age and type of animal that you want to insure. It is possible to find plans starting for as little as 15 dollars a month through trusted companies like VPI pet insurance.

Why should I insure my cat/dog if they’re inside all the time?

Unfortunately, the old adage “accidents happen when you least expect them” applies to pets, too. You never know what your pet is going to do or what could happen to them no matter how careful you are. You can’t watch them 24 hours a day but you can rest a little easier knowing that your pet insurance will be there no matter what.

Will having pet insurance really save me money? Won’t it be expensive if I have more than one pet?

The fact is that most pet insurance claims are the result of an unexpected event – an accident or an illness. Unless you have some money set aside to cover the possibility of such an event, you could be faced with paying out-of-pocket for expensive vet bills associated with life-saving procedures.

If you have more than one pet, the good news is that you could take advantage of a multiple pet discount. Check with the provider of your choice to see if this is an option for you.

When did pet insurance become so popular?

Since 2001, pet insurance has become increasingly popular in the U.S. This trend is due mainly to the advances in special diagnostic tools and treatment available to veterinarians today. Though the treatments are saving more and more pets’ lives, the costs of using such equipment is also going up.

There are more pet insurance providers and plans than ever before. Don’t let the options overwhelm you. With some simple research can help you find the best pet insurance plan for you.