Pet Insurance Made Easy. 5 Most Common Questions

 

The real question is: Will getting Pet insurance save me money? 

As we all know there is no promise when it comes to insurance policies. Many companies have tricks up their sleeves to keep you from getting paid.   

However, through my experiences working with clients and their emergencies, there are a couple of legit long standing trustworthy companies.  

Also, I have found that by choosing the correct pet insurance policy for your specific pet you can be secure when (and I mean when) an emergency happens you will not be out thousands of dollars or have to place a second mortgage on your home( which I have seen many times).

 The questions below will help you understand the basics and differences of Pet Insurance plans.  

#1) What is the Average cost?

Pet insurance costs between $150- $400 per year.  This is highly variable depending on the age, breed and how extensive the coverage is that’s desired.

 

#2) What are the differences in packages?

 Most companies offer packages:

• Basic- Designed to cover illnesses or accidents that are unexpected.  A certain percent of the bill is covered after the deductible is paid.
• Premium- Similar to Basic for illness and accident coverage. The main difference from basic usually is the amount allowed per incident (per incident limit) which usually runs from ~$1000-~$5000.  There is usually a difference in the deductible. 
• Wellness package- This is usually an additional ~$10- $25 monthly. The package is designed to cover expected costs and allots a certain amount to 5-10 procedures your dog will need.  These include General exam (~$50), Vaccinations (~$30 -$60), Blood work, spay/neuter or dental (~$100). Great for puppies since vaccinations and a spay/ neuter is neeeded.

  

#3) How do I get paid?

After you pay the bill for the veterinary visit or emergency you will contact your Pet Insurance Company. 

A deductible will be subtracted from the total bill.  Then percent ( pre determined by your specific plan)  of the entire bill will be sent to you home a couple weeks later. Normally 80-90% of the bill is reinbursed. 

#4) Is there a difference in cost or coverage between breeds?

This is the biggest difference between human and pet insurance.

Dogs and Cats unlike people are grouped into different species which all have known hereditary diseases associated with them. 

Knowing which hereditary diseases are most common in your breed will allow you to choose the correct pet insurance and understand which diseases your pet is not covered for.  Ie: German Sheppards are usually not covered for epilepsy(seizures) since it is hereditary under most policies.   

Most expenses occur when animals are very young and very old.  Most policys are cheaper for younger animals compared to older animals.  Purchasing pet insurance when the pet is young helps cover initial costs of neutering and vaccinations.  Puppies and kittens are more prone to infectious diseases because of their immature immune system and trauma   

#5) Is pet insurance better for Young vs Older animals?

-Young animals tend to have more traumatic accidents such as fractures since there bones are not fully developed and they are not experienced in their abilities.  A front leg fracture usually costs between $1,500 to $5,000 depending on the quality of care and which bone is affected.

-Older animals  tend to be more prone chronic illnesses such as cancer, dental disease and arthritis.    

You can find a policy which will cover hereditary diseases for an additional fee or under premium coverage only.   

#6) What are the first steps to getting a Pet Insurance policy right for you?

To make things simpler for you we have narrowed the choices down to four Pet Insurance Companies. These companies have received the best recommendations by our clients and veterinarians.

 

A)     Get a quote for your specific pets- age, breed and state you reside.

B)      Read our list of hereditary diseases for your breed and the specific policy of the Company you choose.

C)      Review the different policies in your price range and choose the best one for you.