Pet insurance pays, partly or in total, for veterinary treatment of the insured person’s ill or injured pet. Some policies will pay out when the pet dies, or if it is lost or stolen.
As veterinary medicine is increasingly employing expensive medical techniques and drugs, and owners have higher expectations for their pets’ health care and standard of living than previously, the market for pet insurance has increased.
Pet insurance companies are beginning to offer the pet owner more of an ability to customize their coverage by allowing them to choose their own level of deductible or coinsurance. This allows the pet owner to control their monthly premium and choose the level of coverage that suits them the best.
Some of the differences in insurance coverage are:
- Whether congenital and hereditary conditions (like hip dysplasia, heart defects, eye cataracts or diabetes) are covered;
- How the reimbursement is calculated (based on the actual vet bill, a benefit schedule or usual and customary rates);
- Whether the deductible is on a per-incident or an annual basis;
- Whether there are any limits or caps applied (per incident, per year, age or over the pets’ lifetime); and
- Whether there is an annual contract that determines anything diagnosed in the previous year of coverage is considered pre-existing the next year.
Please click this link to get comparable rates from Pawlicy Advisor on which Pet Insurance company will work best for your household:
Pawlicy Advisor will compare Pet Insurance companies for the lifetime (puppy/kitten to senior age) of your pet, because most insurances rates increase the older your pet becomes.
We do not collect any money from Pet Insurance companies if you choose to sign up with them, this is simply our way of helping our clients save the most money by being able to view the many different options out there for their pets.
Source: Pet Insurance