Read The Fine Print Before Buying Pet Insurance by Stacy Ko

There are many important things to consider when looking for a pet insurance plan. It’s good to be protected in case any accident should happen so you don’t have to break the bank. Pet insurance is a good money saving tool to have especially during these rough times, covering up to 90% of the veterinary bill.

Most people don’t realize the importance of insuring their pet until it’s too late and they have already received a large medical bill. While we like to think that our pet is invincible, we never know when something might happen (my mom accidentally kicked her puppy’s leg as the pup was racing around a corner which resulted with a broken bone) so it’s a safe plan to be covered before anything might happen.

Being aware of the risks your pet faces might make you better understand the importance of insuring your pet. You should research your pet’s breed and what hereditary illnesses are common to your pet’s specific breed, and then find out if the policy covers those. You might come across some exclusions for enrolling specific breeds because they are prone to certain conditions. Most companies will offer a limited amount of coverage, if any, for pre-existing conditions. Make sure to find out what is covered as far as pre-existing and chronic conditions.

Some (but not all) companies increase your monthly premium because of your pet getting older. You might want to consider this during your selection of a policy.

Another important factor to look at with pet insurance plans is if you get penalized for filing a claim. Some companies will increase your premiums for filing claims. Along with this, it is important to check if there are limitations regarding filing a claim, for example if it must be filed within a certain time period of the accident.

When you compare pet insurance policies, be sure to look for annual limits. You might come across per-incident limits or per-year limits. It’s important to take this into consideration because your pet might be enrolled with insurance for ten years and have two big accidents. If both of those accidents fall within the same calendar year, then it might not all be covered by some policies because of annual limits.

The last things to consider are aspects of reimbursement. Research what is the average turnaround time for reimbursement for all of the companies you are considering. You also want to make sure that they are going to reimburse you the appropriate amount. It is possible that you will run into the issue where only a small percentage of your bill is covered because the insurance company refers to an outdated list to determine what that procedure should cost. Make sure, if they have a list of what they pay for certain procedures, to check it with your veterinarian to see if the numbers sound correct.

Insurance companies can tell you as much as they want about how great they are, but I recommend doing your own research. It’s helpful to read published reviews and comparisons about the companies, but it’s also a good idea just to find out what actual customers are saying about them so you can see how you might be treated in the future. Read testimonials and rants and raves about the company so you can find what best suits your needs.

About The Author

Stacy is a representative of Trupanion Pet Insurance. She volunteers at a local shelter and has great joy and love for all animals, especially dogs.

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