What To Consider When Comparing Pet Insurers

What To Consider When Comparing Pet Insurers
Pet insurance is relatively new in the insurance world, and it’s even newer to most of the general public. Only around 1% of pets in the US are insured, and though most have now heard of pet insurance, few really understand the details of how it works.
Pet insurance can cover everything from emergency and hospital care to routine veterinarian visits. And exactly what is covered and how much you have to pay out of pocket depends on how you set up your policy.

That said, you need to compare pet insurance companies just as carefully as you compare specific policies offered. Here are some ideas on how to go about doing that:

1. Sufficiently Broad Coverage
Look, first and foremost, for a pet insurance provider that includes relatively broad coverage in its standard plans.

There are always going to be some exclusions, and you can pay extra to eliminate or reduce them, but your insurer should cover more than just accident and injury protection.

You also want cover for chronic illnesses, behavioral problems, needful pet therapy, emergency and hospital care, and preventative care. Basically, most if not all of the issues likely to ever be faced during the lifespan of your pet.

2. Prescription Drug Coverage
Sometimes, prescription drugs are not covered by pet insurers. But you should definitely seek an insurer that does cover all medications prescribed to your pet for covered conditions/accidents.

You may be surprised at how much the pet medicine can cost. It can amount to a significant chunk of the total costs of caring for your pet – so it’s best not to leave it excluded.

3. Waiting Periods & Reimbursement Speed
Virtually all pet insures are going to make you wait so many days for particular conditions to be covered after you sign up. The wait could be 5, 15, or 30 days – it depends on the company.

The wait period might apply to all coverage, to a small fraction of it, or to half of it. Again, you have to examine these details company by company.

And when you do file a claim, to reimburse you for a vet bill or other covered expense, different companies take more or less time to get the reimbursement amount to you.

4. Customer Service & Satisfaction
You should take the time to check the score of each prospective pet insurer with the Better Business Bureau and to investigate what kind of online reviews they’re generally getting from current/former customers.

And also consider such factors as how long the company has been in existence, if they have Internet-based access to pet medical records your vet can use in an emergency, and how easy it is to communicate with them by phone, email, and live chat.

5. Affordability “Per Unit Value”
Cost should be both the first and the last thing you look at when selecting a pet insurance company and policy. You only need compare what falls within your budget, so you look at cost first.

But you want the best deal among companies and plans that meet your basic expectations – so you again look at cost last of all.

When you know what type of policy you want, compare the same set up (as much as possible) across several contenders, with actual quotes.

For more information, or a free pet insurance quote, feel free to contact Flagler County Insurance Agency today!