Compare the available options before you decide to purchase pet insurance. Below is a table that will help you get an idea of the offerings from each company. You should be aware of the following: rates, deductibles, waiting periods and coverage options. This will help to choose the right insurance for you cat or dog.
Rates
The cost of pet insurance depends on your pet's age and how much coverage you need. Providers charge more for pets older than usual because they are more likely to become sick or injured. Also, some policies do not cover pre-existing conditions and may even reject older pets altogether. 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. A study revealed that cats spend less time at the vet than their counterparts in dogs, making them more affordable. When comparing rates, there are several factors you need to take into consideration.
Coverage options
It is important to compare pet insurance coverage options. 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. You can choose from a range of deductibles that range from $100 up to $500. This is important information to help you decide which one is right for you and 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. Policies that only cover accidents are more affordable than policies that cover all diseases. 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 have different deductible amounts. Some companies offer a $0 or $1000 deductible. Choosing the right amount depends on your budget and the age of your pet.
You can choose an annual deductible or a per-condition deductible. The first is simpler to manage and most pet owners will prefer it. The latter requires that you keep track of all expenses by date and condition. Because of this, the deductible to cover a new medical condition is different for every case. It might take longer before your insurance provider reimburses.
Waiting periods
It is important that you consider waiting periods when you choose a pet policy. The waiting periods are set up by the insurance company to make sure that your pet is eligible for coverage. The common waiting period to purchase a policy is thirty days. But this can vary. Some insurers may have shorter waiting times, while others may need a longer one. Trupanion has a 30-day waiting list for sickness coverage.
Although the waiting period for pet insurance coverage is variable, some conditions are not covered. Some policies, for example, have a waiting time for certain diseases such as cruciate ligament injury. A dog with hip dysplasia could have a longer waiting time than a dog that has cruciate injury.
Percentage for reimbursement
The reimbursement percentage on your pet insurance policy can affect the total cost of your policy. Certain companies offer higher reimbursement percentages than other. An insurance policy that covers 80% of your covered expenses will have a reimbursement percentage at 80%. You will be responsible only for $200 if your dog is hurt. But, if your pet has a chronic condition that needs constant care, you may have to pay more.
Most pet insurance plans have reimbursement percentages between 80% and 90%. However, you should understand that higher reimbursement percentages mean a more expensive plan. Every time you submit claims, you will need to pay adeductible. The most common deductible amounts are $100, $200, and $500.