Compare all options before purchasing pet insurance. This table will provide an overview of what each company has to offer. Particularly, you should pay attention to rates and coverage options. This will help you find the right insurance for your dog or cat.
Rates
Pet insurance rates vary depending on how old your pet is and what coverage they need. Providers charge more for pets older than usual because they are more likely to become sick or injured. Some policies may not cover pre-existing diseases and could even refuse older pets. It is best to ask your insurance company for discounts and benefits before purchasing a policy. You can also look for a multi-pet discount.
Numerous studies have been conducted to compare pet insurance rates. One study found that cats were less expensive than dog insurance. According to one study, cats tend not to visit the vet as often as dogs and are therefore cheaper. There are many other factors that you should consider when comparing rates.
Coverage options
It is important to compare pet insurance coverage options. Some insurance companies provide complete coverage for all medical costs while others cover only certain health conditions. Many companies require that you pay a deductible. There are many options for deductibles, ranging from $100 to $500. It's important that you know what is best for your pet and yourself.
The cost of veterinary services and the number covered by pet insurance are also important factors to consider when comparing different options. Accident-only policies are less expensive than those that cover all illnesses. The other option is to purchase an accident-and illness plan. These plans are more comprehensive and can cover most of the procedures and visits to the vet.
Deductibles
When looking for pet insurance, the deductible is something you should consider. Different companies have different minimum deductibles. Some companies offer a $0 or $1000 deductible. The amount you decide to pay depends on your budget as well as the age of the pet.
You have the option of either an annual or per-condition deductible. The former is easier to administer and will be most useful for pet owners. You'll need to keep track by date and condition of your expenses with the latter. The deductible for each new medical condition will therefore be different. It may also take more time before your insurance provider reimburses you.
Waiting periods
When choosing a pet insurance policy, it is important to consider waiting periods. These are required by the insurer to verify that your pet's health is good enough to be covered. The most common waiting period for policies is 30 days. However, this can vary. While some insurers have shorter waiting periods than others, others may require longer ones. For instance, Trupanion imposes a 30-day waiting period for illness coverage.
While waiting periods for pet insurance are variable, there are certain conditions that are excluded from coverage. Certain diseases, like cruciate injuries, are excluded from coverage by most policies. A dog suffering from hip dysplasia might have to wait longer than a dog suffering from cruciate ligament injury.
Percentage for reimbursement
The reimbursement percentage for pet insurance policies can impact the total cost. Certain companies offer higher reimbursement percentages than other. An insurance policy that covers 80% of your covered expenses will have a reimbursement percentage at 80%. You will be responsible only for $200 if your dog is hurt. But, if your pet has a chronic condition that needs constant care, you may have to pay more.
Most pet insurance plans have reimbursement percentages between 80% and 90%. But, higher reimbursement percentages will mean that your plan is more costly. Additionally, every claim must be submitted with a deductible. The most common amounts of deductible are $100, $200, or $500.