Most of us have car, home, health, and life insurance to help protect us in the wake of unforeseen situations. Most of the time, we are glad for the coverage we have, as associated costs can be high, and the possibility of a major issue can threaten our financial future.
Similarly, animal lovers can invest in pet insurance. Because accidents happen and our pets can get sick unexpectedly, carefully choosing a pet insurance plan allows you to provide emergency care for your pet when it matters most. Among other things, pet insurance could save your pet’s life – without breaking your finances.
Peace of Mind
When your pet’s health condition requires you to make expensive or life-saving decisions, it’s a relief to be able to pay for the care your pet needs. A pet emergency is already stressful, but when you have to balance the right care for your pet with the ability to pay for care, it is truly heart wrenching. Pet insurance offers peace of mind to pet owners who simply want to be able to provide the right veterinary care when their pet needs it. Here’s what you need to know about pet insurance.
Understand the Process
Pet insurance plans vary based on the type of coverage, deductible, and reimbursement amounts you choose. A pet insurance policy normally reimburses you after you have paid for medical expenses. It’s paramount to understand that pet insurance requires the submittal of a claim form in order for you to be reimbursed. Note: a few pet insurance companies now offer direct pay to your hospital or veterinarian so that you only pay your portion at the time of service.
Independent Companies
After you pay for your pet’s care, request an itemized copy of your receipt. Your pet insurance company will need it, along with your completed claim form. Please let us know if you need help with this process.
The Fine Print
Pet insurance is designed to help pet owners with veterinary fees that are unexpected, such as in the case of accidental injury or sudden illness. To that end, plans can be adjusted to align with your individual needs. Like human health plans, a lower premium is often associated with a higher deductible.
You may be able to choose from accident, illness, or specialized coverage. Some pet insurance companies offer wellness coverage, as well, to help pay for routine checkups, lab work, and even dental care. Be sure to look at what the costs would be out of pocket; they might be less than the annual costs added to your plan. Sometimes, it just makes sense to save and budget for your pet’s regular wellness care, but this is a personal preference.
Pet Insurance Up Close
It is important to note that pet insurance companies do not cover pre-existing conditions, but what that means is different from plan to plan. There are also exclusions for each plan, such as breed-specific diseases, hereditary conditions, and cosmetic procedures. As a result, it’s really important to read through the coverage before signing up. Also:
- Get several quotes and research the leading pet insurance companies
- Look at the cost of premiums and what the plans cover and what they exclude
- Get a handle on reimbursement amounts and what the maximum payout cap is per year
We hope that your pet never needs catastrophic care, but if you are ever caught between affording veterinary emergency care or not, pet insurance can be a true-life saver. Having pet insurance for even relatively minor surgeries can save you thousands.
If you have additional questions or concerns related to pet insurance, your friends at Union Lake Pet Services are always happy to help.