Make sure you compare all the options before buying pet insurance. This table will provide an overview of what each company has to offer. Be sure to pay close attention to rates, deductibles, waiting periods, and coverage options. This will help you find the right insurance for your dog or cat.
Rates
Rates of pet insurance vary depending on the age of your pet and the amount of coverage they require. Because older pets are more likely to be injured or sick, some providers charge higher rates. Pre-existing conditions may not be covered by some policies, and older pets may be rejected entirely. Before you buy a policy, make sure to inquire about any discounts or benefits offered by your insurance company. Multi-pet discounts may also be available.
Numerous studies have been done to compare rates for pet insurance policies. One study showed that cats are more expensive than dogs. One study showed that cats are less likely to visit the veterinarian than dogs and thus, are more affordable. But, it is important to compare rates.
Options for coverage
Consider the fact that not all plans offer the same level of coverage when comparing pet insurance options. Some companies provide full coverage for all medical costs. Others offer only limited coverage for certain conditions. Many companies require that you pay a deductible. There are many options for deductibles, ranging from $100 to $500. It's important that you know what is best for your pet and yourself.
When comparing pet insurance options, you should also consider the cost of veterinary treatment and how many vet visits are covered. The cost of policies that only cover accident-related illnesses is lower than those that include all other conditions. The other option is to purchase an accident-and illness plan. These plans are more comprehensive and can cover most of the procedures and visits to the vet.
Deductibles
The deductible is one of the most important aspects to consider when shopping for pet insurance. Different companies may have different deductibles. Some offer a $0 deductible, while others require you to pay up to $1000. The amount you choose will depend on the age of your pet and your budget.
You have two choices: an annual or per-condition deductable. The former is easier to administer and will be most useful for pet owners. The latter requires you to keep track of expenses by condition and date. As a result, the deductible for a new medical condition will be different each time. It could take longer for your insurance provider to reimburse you.
Waiting periods
When choosing a pet insurance policy, it is important to consider waiting periods. These are imposed by the insurer to ensure that your pet is healthy enough to be eligible for coverage. A 30 day waiting period is the norm for policies, though this can be extended to any length. Some insurers may have shorter waiting times, while others may need a longer one. For instance, Trupanion imposes a 30-day waiting period for illness coverage.
While waiting periods for pet insurance are variable, there are certain conditions that are excluded from coverage. Many policies require a waiting period to cover certain diseases like cruciate ligament injuries. For instance, a dog with hip dysplasia may have a longer waiting period than a dog with cruciate ligament injuries.
Percentage of reimbursement
The reimbursement percentage for pet insurance policies can impact the total cost. Some companies have higher reimbursement levels than others. An 80% reimbursement percentage means that your insurance will cover 80% of any covered expenses. This means that if your dog is injured, you'll only be responsible for paying $200 out of your own pocket. However, if your canine companion has a chronic condition that demands regular care, you will likely be responsible for a higher percentage of the bill.
Most pet insurance plans have reimbursement percentages between 80% and 90%. You should be aware that higher reimbursement percentages can mean a more expensive policy. In addition, you must pay a deductible every time you submit a claim. The most commonly used deductible amounts for claims are $100, $200, $500.