With veterinary medicine becoming more technologically advanced, you can expect higher care expenses due to increased costs that come with facilities, equipment and training required to offer you services of higher-quality.
For many pet owners, veterinary costs can be overwhelming. Having a pet insurance policy in place can help you offset much of the costs associated with diagnosing your pet’s injury or illness and treating and managing it.
If you have been thinking of taking out a pet insurance policy, make sure you conduct research first and talk to your veterinarian. Things to consider when you are trying to decide if it’s worth investing in pet insurance are as follows.
Is Your Pet Qualified for Insurance?
Many policies won’t cover your pet if they have a pre-existing condition or are old. You might find coverage for your older pet, but the premiums will be higher. Some policies only provide accident-only coverage and others might increase your premiums for certain breeds.
What Kind of Coverage Do You Get with your Plan?
Does your policy cover illness, accidents, prescriptions or annual wellness exams? The types of services that plans will cover can vary and it’s essential that you know exactly what you are paying for. For example, if you have an accident-only policy, you’re covered only for injuries resulting from a car strike, but not for diagnosis and treating diabetes or other chronic diseases.
Choose your Own Veterinarian
Most if not all pet insurance companies will allow you to choose your veterinarian, as opposed to some human health insurance plans where they provide you with a list of pre-selected healthcare providers. With pet insurance, you just submit your veterinary invoice to your insurance agency and they will reimburse you for qualified costs according to the policy terms.
Additional Services Coverage
You will find some companies that cover behavior consultations, kennel fees, and prescription costs for instance. You will definitely want to take additional services like these into consideration when choosing your pet insurance company.
Pet Insurance Policies Reimburse
You typically have to pay your invoice up front and then have your insurance provider reimburse you for the charges. Speak with your agent to find out things like timeframes for reimbursement and how to make a claim so you are prepared for when it comes time to submit your claim. Your vet might offer arrangements for payment options if you can’t afford paying for the total cost upfront. These are some things you will want to find out in advance so you are prepared during an emergency visit.
Each company will vary in its policy and premiums, so make sure you thoroughly read and understand what is covered and not covered before you invest in a pet insurance policy, and speak to your independent insurance agency. By doing your research and knowing exactly what to expect, you can make the process of finding a company easier and make it easier on your wallet.