At least once a year, pet owners have to struggle with incurring veterinary bills; that’s why getting pet insurance from a reputable insurance provider is a must for pet owners. The most challenging thing about keeping pets is that they can get sick when you least expect it, and at that time, you may not have the money to pay for their bills.
But with a pet health insurance cover, nothing will very much worry you. However, it’s also frustrating to realise that not all health problems affecting pets are always included in pet insurance cover. It’s therefore ideal to be equipped with all information about pet health insurance.
What is pet insurance?
This policy enables the pet owner to submit a claim for reimbursement for the veterinary bills arising from pet treatment. The most pets included in these policies are dogs, cats among others. However, some insurance companies may have varying policies, and they may request you to pay a certain percentage of the total bill plus the deductibles.
When summed up annually, the premiums can shoot to hundreds of dollars, which might seem expressive, but the results will be rewarding. It allows you to protect and safeguard your pet against all harm. Imagine spending up to thousands of dollars on pet treatment, and it could be very much costly if you aren’t prepared; that’s why pet health insurance is
How does pet health insurance work
Pet insurance companies request health checkups before the pet owner can enrol their pets for any form of insurance cover. They also impose a waiting period before you begin enjoying the insurance cover. But if you are considering accident coverage, the waiting time is reduced. To use pet insurance, you’ve to pay vet bills, after that claim or the reimbursement from the pet insurance service provider.
But before you get reimbursed, the insurance service provider will have to evaluate your claim; only then can you get your money in the form of a check or deposited directly to your bank account. The waiting time ranges from 1 to 7 days, depending on the type of insurance.
Parts of reimbursement
Deductibles: This is the total amount every pet owner must pay before the insurance cover begins working. It could be per-incident or yearly but must be between $0 and $1000 depending on the insurance company you choose.
Reimbursement level: after you pay all the deductibles, you’ll also need to pay a certain percentage of the bill that can range between 50% to 100%.
Annual max: Like any other type of insurance, the company offering pet insurance will also dictate the maximum amount they’ll pay towards medical bills yearly. If the charges rise above the maximum, you’ll have to cater for this additional cost.
What’s excluded in pet insurance?
Most people make a common mistake when they get into a pet insurance deal. Closing the deal without knowing what it entails may land you in a problem in the future. So, it’s always important to read the terms and conditions and identify all the things covered under the pet health insurance before you start making your payments.
Some of the significant pet illnesses that are never included in many pet insurance are dental diseases, behaviour issues, grooming, preventive care, routine checkups, preexisting/hereditary conditions and hip dysplasia. However, some pet insurance service providers still cater to curable preexisting conditions.
Factors affecting pet insurance premiums
Some unique factors may lead to an increase or decrease in the monthly premiums you’ll be paying. Species: usually ensuring dogs will cost you more than insuring cats; male animals also lead to larger premiums. The breed of your pet can also affect your premium rates. Other factors include the age of the pet and your location.
With all the information we’ve provided, we believe that you can make the right decision to choose the best pet insurance cover. However, always pay attention to the premium rates and the reputation of the pet health insurance provider.