Pet insurance is a great way to protect your beloved pet from unexpected medical expenses. But it’s important to understand what it covers and how much you’ll be responsible for before you buy a policy.
The best way to find the right coverage is to compare quotes from several pet insurers online. Look for policies with similar reimbursement levels, deductibles, and annual payout limits.
Pre-existing conditions
In many cases, pet insurance will not cover your pet’s pre-existing conditions. This is because the insurance company will view these health issues as a high risk.
However, there are exceptions to this rule and you can get coverage for some curable pre-existing conditions. The definition of what a pre-existing condition is can vary from company to company, so make sure you read the fine print and ask questions before signing up for a policy.
You can also apply for a charitable grant program to help cover the costs of treatment, which is especially helpful if you are a first-time pet owner and don’t have much money saved up for medical expenses. Check out Policy Advisor’s database of charitable grant programs to see what may be available for your pet.
A pre-existing condition is any accident or illness that occurs before your insurance policy takes effect or during the waiting period. This includes any chronic diseases like allergies or diabetes that your pet has had for years.
It can also include illnesses that have been diagnosed or treated by a veterinarian before the policy took effect. It’s also a good idea to review your pet’s medical records and make note of any ongoing treatments and medications your pet has taken in the past.
Most of these conditions are incurable and won’t be covered by a pet insurance policy, but there are some exceptions to this rule. For example, ASPCA’s pet insurance plan will not consider any curable pre-existing conditions if they are symptom-free for at least 180 days (excluding knee and ligament issues).
The best way to ensure your pet’s pre-existing conditions won’t prevent you from getting insurance is to enroll them in a policy as early as possible. The earlier you cover your pet, the more likely it is it will have a chance of developing a chronic disease that may not be covered later in life.
A bilateral condition impacts the left and right sides of your pet’s body, such as hip dysplasia. Most policies will not cover these illnesses if the problems were diagnosed before your pet was covered, so it’s important to read the fine print and ask questions.
Congenital conditions
Many of the conditions your pet is born with can be difficult to detect early. In some cases, these issues can take years to reveal themselves, and even then, they might not be diagnosed until your pet is already in poor health.
Getting your pet insured before the condition shows up is the best way to ensure you can get your hands on the right coverage. While most pet insurance companies will not cover congenital conditions, some will be more generous than others when it comes to covering the cost of a cure or treatment.
Hereditary conditions are also covered by some pet insurance companies. These medical conditions are a little different than their congenital counterparts because they involve genes that have been passed down from your dog or cat’s parents.
A hereditary condition can include anything from a chromosomal mutation to something as simple as an eye abnormality. However, the most common hereditary disorder is a genetic mutation that causes your pet to have a deformed limb, such as an arm or leg, and it’s a good idea to make sure you pick a pet insurance plan that covers this type of hereditary issue.
Hereditary conditions are often associated with larger animals like dogs and cats, and they can be expensive to treat, too. Thankfully, some pet insurance plans offer hereditary disease coverage as an add-on feature to help you keep your pet healthy and happy without breaking the bank. The hereditary disease coverage you get will vary from policy to policy, but it should cover hereditary diseases such as hip dysplasia and elbow dysplasia as well as some of the more serious congenital conditions mentioned above.
Alternative care
Pet insurance can help cover the costs of alternative care, such as acupuncture and chiropractic, to promote your pet’s health. Many pet owners choose this type of coverage because it can help them get the treatment they need at a cost that’s more affordable than paying for standard vet bills.
However, you should always check the policy terms to make sure that your pet’s alternative care is covered. Some plans will require that you consult with a veterinarian before getting alternative care. You can also find out if your plan will reimburse you for certain types of care, such as hydrotherapy or aromatherapy.
Most pet insurance policies come with a deductible and a reimbursement percentage. These can be set to different amounts, and choosing a higher deductible will reduce your premium. The downside is that you’ll be responsible for paying any expenses until you reach your deductible.
Some pet insurance companies allow you to pay a small amount out-of-pocket before they start reimbursing you for your veterinary visits. This strategy can be helpful if you don’t expect to have to file many claims.
Other ways to lower your pet insurance costs include reducing the number of pets in your family or asking friends and family for financial assistance. In either case, however, it’s important to be realistic about the level of coverage you need and the extent to which your financial situation can support the extra expense.
The best way to save money on pet insurance is to compare prices and coverage options from several companies. You can do this by shopping online or by visiting your local pet store.
Keep in mind that costs can vary widely from one company to the next. Some pet insurance providers will offer discounts if you sign up for multiple policies or use a certain code.
You can also ask your vet about pet insurance and see if they’re comfortable talking to you about the details. Some vets are reluctant to discuss this topic, while others are receptive and happy to explain what kind of coverage is available.
Waiting periods
The waiting period for pet insurance is a time frame between the policy start date and when coverage begins. During this time, you cannot file reimbursement claims for eligible expenses related to your pet’s accident or illness.
Waiting periods are a necessary component of pet insurance to deter customers from filing fraudulent claims for injuries or illnesses their pets have suffered before enrollment. Without this buffer, companies could receive claims for conditions that should have been excluded during the quote process, resulting in higher premiums and less affordable coverage.
When choosing a pet insurer, compare prices for similar plans, including annual coverage, deductible and reimbursement percentage. Also, pay attention to policy add-ons and coverage limits.
Some companies, such as Embrace and Figo, waive their extended accident and illness waiting periods if you submit proof of a vet exam completed within the first 14 days of your policy. Other providers, such as Prudent and Trupanion, reduce their extended knee or ligament injury waiting periods if you provide proof of a vet exam completed during the first 30 days of your policy.
While waiting periods vary between pet insurers, the average length of time before you can make a claim is 14 days for illnesses and five days for accidents. However, some insurers may have longer periods for certain conditions, such as cruciate ligament issues and hip dysplasia.
In addition to the standard 14-day waiting period, most pet insurers also impose a cooling-off period during which you can change your mind about your policy and cancel it without paying any cancellation fees. This period can change depending on the company you choose, but it is a safeguard to protect consumers from unfounded claims.
Finally, many companies offer a one-time discount or credit for taking out insurance during certain times of the year, such as during National Dog Month. These discounts or credits can be used to lower your yearly premium and cover additional costs, such as a veterinary visit. Getting pet insurance is easy if you know what to look for. You can get a free pet insurance quote by using the pet insurance comparison tool on our site or visiting the links provided below. In addition, some of the best insurers are available to answer questions over the phone.
