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Statistics show that many pet owners struggle yearly with financial distress caused by the emergency care needed by their pets or basic vet care requirements. And such owners consider more and more often to buy a pet policy to cover their backs in case of financial need. Still, the main question everyone asks – is how to choose the right pet insurance plan? Besides, it’s hard for them to find out the real price of a pet insurance plan.

Pet Insurance

The basic pet insurance price

The overall cost of such insurance is established based on breed, age, and medical history of an animal.

You should know that the overall cost of such insurance is established based on breed, age, and medical history of an animal. Also, the price can vary and can be influenced by what you want the policy to cover, and you will have to decide if you need only emergency care coverage or if you need to add routine vet care. Some plans can cost around $100 per month, while others can go as low as $10 monthly. Mainly, studies show that the amount of money spent by a pet owner for a pet plan for a month is around $40.

What are the main pet plans available today?

Today, you can choose between three standard pet plans:

  • Accident-only coverage – it resembles quite well the particularities of catastrophic care policy. You will receive reimbursements in case your pet is involved in an accident, such as being hit by a car. This type of policy will cover all the required treatments and interventions to nursing back your pet to health. Still, some situations won’t be covered by this plan. Tick or fleas are not included, and pre-existing health issues or repeat injuries are excluded, too. Overall, an accident-coverage policy is one of the most affordable types of insurance, and it is excellent for young and healthy pets.
  • Accident and disease coverage – these plans cover accidents, and potential health issues like urinary infections, stomach issues, or cancer. Still, this coverage might imply additional costs as the pet gets older, making it a suitable solution for ageing pets. Nevertheless, such plans won’t cover pre-existing health issues. It is best to read the policy’s insights carefully to discover what type of coverage you will receive.
  • Extensive pet plans – this is the most expensive and qualitative insurance you can get that offers coverage for a wide array of pet care situations. It can provide reimbursements for accidents, health problems, routine, and preventive care. Besides, you can benefit from coverage of spaying, neutering, deworming, dental care, or even behavioural courses. And most of such pet plans offer to a microchip in their coverage, too. Exclusions from this plan’s coverage include abuse, neglect, pre-existing health issues, or complicated surgical procedures.

The basics of pet insurance functionality

Since the law labels pets as property, insurance companies develop their plans distinctly. Overall, a pet plan has a lot of similarities with human insurance, meaning you will stumble upon terms such as deductible, pre-existing issues, or monthly premiums. Still, not all companies will allow you to use your preferred veterinary office, while others don’t connect with your vet and will have you pay upfront and request coverage later.

Mainly, this can lead to some work from your part, but it can be worth your time and save your pet’s life. Market research discovered that in several instances, a pet plan could be more expensive than it is the case with paying the vet bills yourself. Unless, of course, there is the need for a severe surgical procedure or treatment.

Top features to think about when purchasing a pet plan

Many insurance companies offer unique plans for pets. All of these come with ups and downs, which is why you should take into account the following aspects, before completing a purchase:

  1. What coverage does my furry friend need?

Both cats and dogs require veterinary care, while larger purebreds might need additional vet care. Still, if you have an exotic pet, this signifies, you will have to look for a coverage that includes theft or death. Also, if you own a dangerous pet, you will definitely need liability coverage.

  1. Do I afford the monthly fee for a pet plan?

The thing you shouldn’t overlook is your budget. The standard monthly fee for a pet plan goes up to $40. So, you should make sure you can pay for your policy and avoid financial issues.

  1. Is my pet predisposed to emergency and severe health issues?

A general rule, mixed breeds, and midsize dogs are less predisposed to health issues than it is the case with larger dogs or special breeds. Also, cats don’t experience as many issues as puppies. So, it is best to assess your pet’s needs and research about what health issues it might experience, along with the potential costs.

  1. Do I need a vet check-up to enrol for coverage?
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In most situations, you will need your veterinary evaluation for your pet health before being accepted into a pet insurance plan. This happens because almost all companies don’t cover pre-existing conditions, and they need proof your pet is healthy.

  1. What’s the amount of the deductible received? And do pet plans come with annual or lifetime caps, and coverage for specific medication?

Similar to human insurance, pet insurance comes with several options and coverage features. In most situations, it will turn out to be more affordable to pay out of pocket, as you might have a high deductible. Of course, some plans might reimburse the costs of basic drugs, but not expensive medication. And other insurance policies might not cover medicines at all. Make sure you check all these aspects!

Where to find the best pet insurance plan?

So, if you are sure a pet plan is the best approach for you and your pet, you might wonder how to select a reliable provider. We suggest you check Petinsurancefinder, as it offers you access to in-depth information about pet insurance and the top companies on the market. Besides, you will get access to real customer testimonials, which can turn out to be helpful when choosing a plan.

Besides, you can always ask your vet’s office about additional information concerning pet coverage. They are the only ones that had direct contact with pet health issues and know the best approach towards preventing serious distress for your beloved pet.

FAQs about pet plans

  • What is a pre-existing health problem?

Many pet owners ask this question, and the best way to find an answer for it is to take your pet for a vet checkup. Your doctor will tell you all about it while performing a basic vet consultation, which you might need to submit before purchasing a pet plan.

  • What happens with the insurance in case of my pet’s death?

Several pet insurance providers don’t pay for fatal illnesses or accidents. So, you should request additional information about this topic from the provider. Whether or not this cost is featured in the plan depends on the policy’s features.

  • What pets require insurance?

Your vet is the one that can advise you correctly about the best preventive care for your pet. Still, large dog breeds or purebred cats or dogs experience several health issues. And if you own one such pet, you most likely need a pet plan to avoid financial distress.

  • Can I purchase insurance if I just found out my pet needs expensive medical procedures?

Most likely, you won’t be accepted in any insurance plan. You need to purchase a pet plan before your pet getting health issues or injuries. And several providers won’t offer coverage if your pet has pre-existing health issues. Or if they accept you, you will definitely pay more for it.

The bottom line is that a pet plan can help you deal with vet bills. Still, you will have to get additional information about the specificity of coverage your pet needs. This is why it is best to compare several plans from distinct providers before deciding. And, of course, your vet can help you with making an informed decision for your pet’s wellbeing.

Richard Bradford