Before you buy pet insurance for your pet, make sure to compare the different options available. This table will provide an overview of what each company has to offer. In particular, pay attention to rates, Deductibles, Waiting periods, and Coverage options. This will help you find the right insurance for your dog or cat.
Rates
The cost of pet insurance depends on your pet's age and how much coverage you need. Older pets may be more susceptible to illness and accidents so providers will charge more. Also, some policies do not cover pre-existing conditions and may even reject older pets altogether. Before purchasing an insurance policy, it is a good idea to check with your company about discounts and other benefits. Multi-pet discounts are also available.
Several studies have been published comparing rates of pet insurance policies. One study showed that cats are more expensive than dogs. A study revealed that cats spend less time at the vet than their counterparts in dogs, making them more affordable. It is important to note that there are other factors that can affect the rates.
Options for coverage
Keep in mind, however, that not all pet insurance plans are the same. Some companies provide full coverage for all medical costs. Others offer only limited coverage for certain conditions. A lot of companies require you to pay a deductible. Deductibles range from $100-$500, so it is important to determine which amount you can afford for your pet.
Other factors to consider when comparing pet insurance coverage options include the number of vet visits covered and the cost of veterinary care. Accident-only policies are less expensive than those that cover all illnesses. However, accident-and-illness policies are more comprehensive and include most procedures and vet visits.
Deductibles
When looking for pet insurance, the deductible is something you should consider. Different companies have different amounts of deductible. While some companies have a $0 deductible while others may require you to pay $1000, there are many options. Choosing the right amount depends on your budget and the age of your pet.
There are two options: an annual deductible and a per-condition one. The former is easier to administer and will be most useful for pet owners. The latter requires that you keep track of all expenses by date and condition. The deductible for each new medical condition will therefore be different. It may also take more time before your insurance provider reimburses you.
Waiting periods
You should consider the waiting period when choosing a pet insurance policy. These are required by the insurer to verify that your pet's health is good enough to be covered. The most common waiting period for policies is 30 days. However, this can vary. Some insurers may have shorter waiting periods, while others may require a longer one. Trupanion, for instance, has a 30-day waiting window for illness coverage.
Although the waiting period for pet insurance coverage is variable, some conditions are not covered. Most policies include a waiting period for certain conditions, such as cruciate injury. For instance, a dog with hip dysplasia may have a longer waiting period than a dog with cruciate ligament injuries.
Percentage reimbursement
The reimbursement percentage of your pet insurance policy could affect the total cost. Some companies offer higher reimbursement rates than others. Your insurance will pay 80% of covered expenses if it has a reimbursement percentage of 80%. This means that if your dog is injured, you'll only be responsible for paying $200 out of your own pocket. If your dog is suffering from a chronic condition, such as diabetes, it's likely that you will have to cover a larger portion of the bill.
Generally, reimbursement percentages for pet insurance plans range from 80% to 90%. It is important to understand that higher reimbursement rates can lead to a more expensive plan. Every time you submit claims, you will need to pay adeductible. The most commonly used deductible amounts for claims are $100, $200, $500.