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It is known that pets are the best friends of people. In order to make sure that the pet will always be protected and cared for, people should consider having a pet insurance.
Pet insurance is the same as the medical insurance that humans have. You purchase a policy that covers at least one pet in your home and have a company that covers some of the high veterinary bills that you face. Though many vets accept credit cards, you may not have enough money available to cover your bill. Even if the office has payment plans available, you may not qualify or find that the minimum amount you get won’t cover your bill. Accidents can happen with little to no warning. You might take your dog for a walk and watch in horror as your pet gets bitten by a poisonous snake. A pet can fall into a hole and break a leg or suffer serious damage after running into the street. Pet insurance gives pet parents peace of mind. You don’t need to worry about what you would do after an emergency. The right policy and provider can also cover chronic conditions and other things that affect your pet’s health.
Before you sign up for pet insurance, you want to make sure that you understand how it works. Your policy will make note of several things, including your copay and deductible. If you ever had health insurance before, you know that the copay is the amount due when you see a doctor. With pet insurance, the copay is usually based on an amount that you set. For example, you might set your copay a 15%. While insurance will cover 85% of your pet’s medical costs, you’re responsible for the remaining 15%, which can be quite high. Setting a lower copay lets you pay less when you file a claim but often requires a higher monthly payment.
Your deductible refers to the total amount of coverage that you get in a single year. Most companies allow you to adjust this amount if your pet needs more coverage or you want to pay less each month. Deductible can refer to the amount that the policy will cover per incident or claim that you file. The calendar year or annual deductible tells you how much the insurer will pay in total. This relates to your maximum coverage, which is the total amount of coverage offered by the insurer. If your pet requires more care, you’re responsible for paying the remaining costs. Some pet insurers give you the option of signing up and paying extra for unlimited coverage.
There is also a waiting period, which tells you how long you have to file a claim. Most companies require that you wait a minimum of 14 days after buying a policy before taking your pet to a vet. Companies can set a waiting period on how long you have after an accident before filing a claim, too. You’ll also want to look at whether the policy covers pre existing conditions. These are diseases and problems that your pet had before you bought a policy. None of the pet insurance companies we found will cover pre existing conditions.
You have quite a few different types of policies that you can choose from when picking coverage for your pet. Accident policies will only cover bills associated with pet accidents. These policies are helpful if you worry about what might happen to your pet or you live in an area where accidents are common. Your policy will cover the cost of a vet looking over your pet for any signs of injuries and treating the animal. It usually covers both snake bites and fights with other animals as well as car accidents. The policy will not cover any preexisting conditions made worse by an accident.
Accident and illness policies are popular with pet parents who want to make sure that their pets get any of the help that they need. This type of policy covers all bills and costs associated with accidents as well as visits relating to a new illness. For example, you may notice that your cat is more lethargic than usual and hides from people. You have the right to see a vet and get a full workup. These policies do not cover any preexisting conditions and may not cover diseases that you could prevent with a vaccine. If you didn’t get your dog all of its regular vaccines and the pup gets sick, your insurance may not cover the bills.
There is also comprehensive coverage that covers almost everything. It pays for any behavioral training that your pet needs along with routine dental exams and cleanings. Many policies will cover the cost of spaying or neutering pets that are one year old or less. As most vets charge fees based on the size of your dog, this can be very expensive. Comprehensive coverage also allows you to have your pet dewormed or microchipped.
Though pet insurance covers many things, keep in mind that no policy will cover everything. Companies will not cover any injuries caused by abuse and can void your contract if the vet finds signs of abuse. You will not get coverage for expensive ambulance rides or for surgeries that cost more. Some policies will not cover surgery unless it is medically necessary. Keep in mind that the policy will not cover any conditions that your pet had before you became a customer either.
The cost of pet insurance depends on factors such as the age and breed of your pet. Policies often start at around $10 per month but can climb to nearly $100 a month. Though basic policies cost less, those that offer more coverage will cost more. Dog insurance is more expensive and costs an average of $60 a month. Cat insurance is more affordable and averages $25 per month.
Having pet insurance allows you to see a vet when your pet becomes sick or is in an accident. Though most policies cover dogs and cats, there are other policies available that cover snakes, rabbits and other types of pets. Lemonade is our top choice for pet insurance because it offers the cheapest rates and has no limit on how old your pets can be when you sign up. This insurer also lets you get instant medical advice to determine whether you need to make an emergency appointment or can wait a few days to see your pet. We ranked five great companies that offer the coverage and help that you need. Check out our ranking to learn more before signing up for pet insurance.
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