Make sure you compare all the options before buying pet insurance. The table below will give an overview of the different companies. Be sure to pay close attention to rates, deductibles, waiting periods, and coverage options. This will help you find the right insurance for your dog or cat.
Rates
Prices for pet insurance will vary depending upon the age of your pet, as well as the level of coverage that they need. Providers charge more for pets older than usual because they are more likely to become sick or injured. Some policies don't cover older pets because they do not consider pre-existing medical conditions. It is best to ask your insurance company for discounts and benefits before purchasing a policy. A multi-pet discount is also possible.
Numerous studies have been done to compare rates for pet insurance policies. One study revealed that cats tend to be less expensive than dogs. One study showed that cats are less likely to visit the veterinarian than dogs and thus, are more affordable. There are many other factors that you should consider when comparing rates.
Options for coverage
When comparing pet insurance coverage options, keep in mind that not all plans are created equal. Some insurance companies provide complete coverage for all medical costs while others cover only certain health conditions. Many companies also require a deductible, which means you have to pay a certain amount up front. 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.
You should also compare the costs of veterinary care and the number of veterinarian visits that are covered. Accident-only policies are less expensive than those that cover all illnesses. However, accident-and-illness policies are more comprehensive and include most procedures and vet visits.
Deductibles
The deductible is an important aspect to consider when searching for pet insurance. Different companies offer different deductible amounts. While some companies have a $0 deductible while others may require you to pay $1000, there are many options. The amount you decide to pay depends on your budget as well as the age of the pet.
You can choose an annual deductible or a per-condition deductible. The former is easier to administer and will be most useful for pet owners. The latter requires that you keep track of all expenses by date and condition. This means that the deductible for new medical conditions will differ from one to another. It could take longer for your insurance provider to reimburse you.
Waiting periods
Consider waiting periods when you are looking for pet insurance. These are required by the insurer to verify that your pet's health is good enough to be covered. The common waiting period to purchase a policy is thirty days. But this can vary. Some insurers have shorter waiting lists, while others require a longer wait. Trupanion for instance has a 30-day waiting limit for illness coverage.
Although the waiting period for pet insurance coverage is variable, some conditions are not covered. Certain diseases, like cruciate injuries, are excluded from coverage by most policies. For instance, a dog with hip dysplasia may have a longer waiting period than a dog with cruciate ligament injuries.
Percentage for reimbursement
The reimbursement percentage of your pet insurance policy could affect the total cost. Some companies have higher reimbursement levels than others. Your insurance will cover 80% if your expenses are covered by a 80% reimbursement percentage. You will be responsible only for $200 if your dog is hurt. You'll be responsible for paying a greater percentage if your dog needs regular care.
In general, the reimbursement percentages of pet insurance plans vary from 80% up to 90%. But, higher reimbursement percentages will mean that your plan is more costly. Every time you submit claims, you will need to pay adeductible. The most common amounts of deductible are $100, $200, or $500.