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Pet Insurance Planning

pet insurance If you are going to take out pet insurance then there are a few things to consider when buying insurance. These are some of the most common issues when considering pet insurance be this for a dog or cat. Note that some companies even cover birds and reptiles.

These are some of the points to consider with insurance and gives you a very good idea as to what to ask for and also what to check in the policy offer. Always take advice from a registered insurance agent.

Pick the insurance reimbursement type

Pet reimbursement policy

Reimbursement of the treatment cost is based cost only. You will get back a percentage of what you had paid your vet for the visit.

Benefit schedule

Note the difference between the two. The pet insurance with a benefit schedule is capped at a set amount for each condition (much like normal medical aid for humans), regardless of the actual treatment cost. There is normally a limit for each process or procedure. Also note that some will not pay for the examination fee.

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Factors affecting your coverage

Do you understand what is covered or not? Normally pure bred animals have a higher insurance coverage due to illnesses which they might be predisposed too. Certain medical procedures are not covered such as cancer treatments and other costly procedures. Does a claim increase your annual cost? These are all things you will need to check beforehand.

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Price and Value

With most pet insurance you can set your deductibles. Much like car insurance you can set the deductible amount. This amount you will pay while the insurance covers the rest. Normally the larger the deductible the less your premiums will be. Also look what is on offer. The cheaper insurance normally only covers minor ailments and accidents. They will not cover long term treatment such as cancer.

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Medical or wellness coverage

There are normally 3 types of coverage or a combination of the two. The first covers everything including wellness coverage while the cheap plans only cover wellness. Below is a breakdown of what normally is covered.

Full coverage:

  • Exams, lab tests, X-rays
  • Prescriptions
  • Surgeries & hospitalization
  • Chronic conditions
  • Hereditary conditions (no waiting period)
  • Wellness
  • and more

Major Medical coverage:

  • Exams, lab tests, X-rays
  • Prescriptions
  • Surgeries & hospitalization
  • Chronic conditions
  • Some hereditary conditions (waiting period applies)

Wellness Coverage:

  • Wellness exams & tests
  • Flea/heartworm prevention
  • Vaccinations

Search the internet and cheap which medical aid is best for your pet. The Geico pet insurance is also an option and you might be able to join all your insurance policies so you will need to speak to an agent about this.

 

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