Lately, pet insurance companies have been popping up left and right. Today, a simple search of “pet insurance” on Google will unlock dozens of different brands on your screen.
With how popular pet insurance has become, the market has become as saturated as ever. For pet owners, this is an overall positive trend, since it means that there are more options for insurance than ever before.
However, it is also slightly concerning because it makes it difficult for pet owners to choose a company. When comparing pet insurance plans, it can be hard to decide which one is the best for you.
At the end of the day, you have to choose a plan that fits the needs of your specific pet. If your pet regularly needs a particular service, make sure their insurance plan covers it.
Nowadays, simply having pet insurance isn’t enough. It’s essential to have the right insurance for your pet.
Today, we’re going to be discussing how to evaluate a pet insurance policy and decide if it’s worth it. If you’re in the process of finding a plan for your pet, we’re here to help!
Prices
If you’re new to insuring your pets, you’re probably wondering: how much does pet insurance cost?
Well, this number will vary across different brands. Generally, for an accidents-only plan, you can expect to pay $15-20 a month for dogs and $10-15 a month for cats. For an accidents and illnesses plan, you can expect to pay $45-60 a month for dogs and $25-35 a month for cats.
Now, this may seem like a significant amount of money. However, when you consider how much you’ll save, it’s truly a bargain.
Keep in mind how expensive vet bills can get. General wellness checks may only cost $50-100 every time you visit the vet. However, when you start paying for things like vaccinations, heartworm tests, and flea and tick control, several hundreds of dollars will start flying out of your pocket.
Your bill will increase even more if the vet finds something wrong with your pet. If at some point they need surgery, you might have to shell out thousands.
Pet insurance provides coverage for these services. Some plans also offer coverage for services like grooming and behavioral therapy.
Quality of Coverage
Another factor to consider is the quality of coverage you’ll receive. Is the price you’re paying worth the coverage they offer?
Every insurance company has different policies. Some companies offer coverage on wellness checks, while others don’t. Some companies offer coverage on care related to maintenance, like grooming. However, many don’t.
Every pet insurance plan also has exclusions. That means there are services that they don’t cover. Some brands offer riders, or premium add-ons, that you can use to cover services outside of their coverage. However, you should expect to pay full price for some services.
Make sure the plan you buy is consistent with the needs of your pet. For instance, if your pet has a chronic condition, the plan you choose should cover most or all of the treatments and medications your pet needs.
Accessibility
Nowadays, pet insurance is very accessible. You can practically find an insurance plan for any type of pet, scaled or furry.
You can also find coverage for pets that are elderly, a perk that wasn’t available years ago. Some companies charge higher premiums for older pets, while others don’t account for age.
Pay careful attention to how policies define pre-existing conditions, as well. If your pet develops a condition while you’re under insurance, and you later decide to update your plan, some companies will consider that condition as pre-existing moving forward.
Selection of Vets
You should also consider what vets accept your plan. Typically, pet insurance companies have a network of vets that they work with. Before committing to a plan, take a look at what insurance policies the top vets in your area accept.
A pet insurance policy may seem perfect at first glance. However, if there are no reputable vets in your area that accept it, you’re better off going with a different plan.
Remember; you want to visit vets that are close in proximity to you. If you ever find yourself in an emergency situation, you don’t want to have to drive a far distance to get your pet the help they need.
Check what types of insurance the specialty hospitals in your area accept, as well. During after hours and holidays, these specialty hospitals are the only pet facilities open.
