1. There Are 3 Major Pet Insurance Plan Types
Most industry experts class pet policies into three major groups – those that focus on illnesses, accidents, or general health and wellness. Of course, policies often offer a mixture of these three elements, with illness and accident coverage typically being combined.
Be sure to ask your pet insurer about the different types of policies they offer and your options for mixing and matching the 3 basic coverage areas to form your ideal pet plan.
2. Pet Insurance Works Differently Than Human Insurance
Don’t assume that a pet policy will work just like “human insurance” except it’s for your pet – it won’t. There are elements that are the same, like the existence of premiums, deductibles, and exclusions.
But there are many differences as well. For example, preexisting conditions will not generally be covered. Also, you may have to pay in full up front and then get reimbursed from the insurer later. And there can be variations in how coverage works based on the breed of animal.
3. Pet Insurers Normally Cover Prescription Drugs
In case you’re wondering – and you should be!, most pet insurers do cover drugs prescribed to pets by licensed veterinarians. And that is very good news for pet owners who choose to insure their pets.
Prescription drugs for pets can cost as much or more than those prescribed to people. Some treatment regimens might run you hundreds of dollars, so it is good to know you won’t pay that all out of pocket.
4. Spaying & Neutering Is Covered Too
Even pet insurance that is not geared toward preventative care (called “well care”) typically at least includes coverage of spaying and neutering.
Since this is a one-time event in a pet’s life, insurers are willing to cover it even in policies focused on catastrophic illnesses and accidental injuries. Click on the link to find out more about why to get your pet spayed or neutered.
5. Five Factors Mainly Determined The Cost
How much will a pet policy cost? That depends on five major variables. Breeds susceptible to particular conditions will cost more to insure or require specific exclusions – and purebreds cost more too. Older pets cost more to cover, so getting your pet insured young is always wise. Males cost a bit more to insure than females. Any pet that is in poorer health at the time you buy the insurance will cause a premium spike. And, finally, increasing coverage limits and expanding coverage areas will of course mean paying more for insurance that does more.
Are you concerned about the health and well being of your pet but no less concerned about suddenly being faced with extremely high veterinarian bills? Maybe it’s time to buy a pet insurance policy.
For more information on how pet coverage works and for a free, no-obligation quote, contact Flagler County (FL) Insurance Agency today!