Compare the various options before you purchase pet insurance. Below is a table that will help you get an idea of the offerings from each company. Pay attention to the rates, Deductibles and Waiting Periods. Also, consider Coverage options. This will enable you to choose the right policy for your cat and dog.
Rates
Rates of pet insurance vary depending on the age of your pet and the amount of coverage they require. 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.
Numerous studies have been conducted to compare pet insurance rates. One study found that cats were less expensive than dog insurance. According to one study, cats tend not to visit the vet as often as dogs and are therefore cheaper. When comparing rates, there are several factors you need to take into consideration.
Optional coverage
When comparing pet insurance coverage options, keep in mind that not all plans are created equal. Some companies offer comprehensive coverage for all medical costs, while others offer limited coverage for only a few specific health conditions. Many companies require that you pay a deductible. You and your pet should be aware that deductibles can vary from $100 to $500.
You should also compare the costs of veterinary care and the number of veterinarian visits that 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
One of the most important things to consider when looking for pet insurance is the deductible. Different companies have different amounts of deductible. 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 and more convenient for most pet owners. The latter requires you to keep track of expenses by condition and date. The deductible for each new medical condition will therefore be different. It could take longer for your insurance provider to reimburse 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. A common waiting period for a policy is 30 days, but this can vary. Some insurers may have shorter waiting times, while others may need a longer one. Trupanion for instance has a 30-day waiting limit for illness coverage.
Although waiting periods for pet insurance coverage can vary, there are some conditions that are never covered. Certain diseases, like cruciate injuries, are excluded from coverage by most policies. For example, dogs suffering from hip dysplasia will likely have a longer waiting list than dogs with cruciate or other injuries.
Percentage for reimbursement
The amount of reimbursement you receive for your pet insurance policy will affect your total policy cost. Some companies have higher reimbursement levels than others. An 80% reimbursement percentage means that your insurance will cover 80% of any covered expenses. If your dog gets hurt, you will only have to pay $200 from your pocket. But, if your pet has a chronic condition that needs constant care, you may have to pay more.
Generally, reimbursement percentages for pet insurance plans range from 80% to 90%. However, you should understand that higher reimbursement percentages mean a more expensive plan. Additionally, every claim must be submitted with a deductible. The most commonly used deductible amounts for claims are $100, $200, $500.