Pet Insurance: Expectations vs. Reality

Pets become part of the family, and we want to take care of them the best we can. However, pets can also cost a lot of money. From their food, bedding, and toys to routine vet visits, medication, and emergencies, pets come with many expenses. When you are forced to choose between the health of your beloved pet and a $10,000 medical bill, it can be heartbreaking for the whole family.

Pet insurance can help mitigate the medical expenses for your pet. With the right pet insurance policy, you do not have to risk your financial security to care for your pet. It is important to note that pet insurance does not cover all medical expenses for your dog or cat. Many policies also require you to pay for medical expenses up front and file for reimbursement. Keep reading to learn more about pet insurance and expectations versus reality.

What does pet insurance cover?
What is covered by pet insurance will depend on your policy and provider. Different pet insurance providers cover specific costs, vet visits, and emergency medical expenses. In many cases, you can find a pet insurance policy that covers unexpected illnesses and accidents, cancer, hereditary or congenital conditions, chronic conditions, surgery, hospitalization, and specialty care.

Pet insurance is not designed to cover the routine vet visits and wellness visits needed to care for your pet. Instead, pet insurance is meant to protect you from unexpected medical bills or extremely high medical costs for your pet. Common examples of pet insurance coverage include tests and surgery for unexpected accidents, vet appointments and medication from diagnosed chronic conditions, and the medication and treatment for a cancer diagnosis.

Where can you find pet insurance quotes?
Most pet insurance providers offer pet insurance quotes online. You can search for pet insurance providers, provide information on your pet, and receive a quote for a relevant pet insurance policy. Pay special attention to what is covered under the policy and what is excluded from coverage. Noting these items while collecting pet insurance quotes can save you from unexpected costs down the road.

What is the waiting period for pet insurance?
Some pet insurance providers may impose a waiting period before coverage is in place. The waiting period for pet insurance restricts coverage for a short amount of time, and the exact waiting period will depend on your policy and provider. In some cases, you may have a 14-day waiting period for certain illnesses or a 6-month waiting period for specific conditions.

Can you purchase pet insurance online?
If you are searching for pet insurance online, you will find many options. Some providers allow you to accept a quote and make payments online for convenience. You may be required to supply documentation for your pet, including vet records and shot records. Your provider may require a vet visit within 12 months of acquiring pet insurance to determine the overall health of your pet. While purchasing pet insurance online, you can always call the provider to ask questions and receive clarification.