Pet insurance can cover unexpected veterinary bills, and in some cases, routine wellness expenses too. However, policies vary greatly in price and coverage. If you are considering insurance for your pet, be sure to understand how plans work before you sign up.
How to Shop for Pet Insurance:
Get to know the different plan types.
Different plans offer different levels of coverage. Every company is different, so it’s wise to make specific inquiries about what’s covered under each plan you’re offered.
Decide how much coverage you need.
Factors like your pet’s breed, age, and family history, as well as your own financial status, can help you determine if accident-only insurance is sufficient or if you need a more comprehensive plan.
Compare prices and plans.
Visit reputable pet insurance websites or call their customer service numbers to get a quote for coverage tailored to your pet’s age, breed, and health status. Get several quotes and compare them to choose the plan that is the best value and match for you and your pet.
Read the fine print.
Make sure you know how each plan works and don’t assume that all companies handle deductibles, payout limits, and reimbursement in the same way. Get to know all the ins and outs before youa gree to a plan.
Understand the waiting period.
With pet insurance, you’ll need to make payments to your veterinarian up front and then wait to be reimbursed by your insurance company.
Insure your pet early.
Not only are pet insurance plans cheaper when your pet is young and healthy, by purchasing a policy early on, you avoid being disqualified due to pre-existing conditions.
Get the best deal.
Sometimes, bundling policies is a cheaper option. In addition, some employers may offer pet insurance.
Consider pet insurance alternatives.
If pet insurance doesn’t seem like a feasible option for you, set up a dedicated emergency fund for your pet instead and start saving.
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