Pet health insurance is an insurance policy that usually comes with a large monthly premium. When your dog is hurt or sick, you usually foot the entire bill upfront and file a claim for compensation to the insurance company. Depending on your coverage, you can also have to pay a large deductible and some policies often exclude certain pre-existing conditions and diseases.
However, there are many benefits: that come along with having pet health insurance. One of the primary benefits to having pet health insurance is that you can reduce the cost of veterinary care. Many pet owners find that the cost of veterinary care can be extremely high. Most of us pay more than half of the total cost of veterinary bills before the insurance kicks in. This gives many pet owners the opportunity to save hundreds of dollars per month that would normally be out-of-pocket expenses. In addition, insurance coverage usually offers discounts on medicines, diagnostic tests, and even dental care as well as coverage for many other medical services including hospitalization and surgery.
Another benefit of having this type of coverage: is that it can help you keep up with the rising cost of having a pet. Insurance typically has a limit to the amount that can be claimed for each occurrence, so you need to carefully consider the type of coverage that you want to purchase. If you do not have a very large amount of out-of-pocket expenses, you can still enjoy many of the benefits of pet health cover. Pet owners can enjoy discounts on annual physicals and vaccinations, wellness visits, annual checkups, and annual procedures such as neutering.
Along with enjoying discounts on most of the services: that you would expect to receive from your regular veterinarian, many pet health insurance plans provide additional benefits that can be particularly helpful to dog and cat owners. For example, some plans will allow you to choose the amount that you will be reimbursed every month. You may be reimbursed only the final cost of a treatment, or the lump sum price of many treatments over time. However, if you choose to be reimbursed in monthly increments, you can choose the size of the payment that you can accept each month.
Some pet insurance companies: will also allow pet owners to take advantage of “premium credits”. These can help pet owners to reduce their monthly premiums by spreading the cost of illness out into several months at a time. This allows for more affordable care during those months when you need it the most. In addition, some plans provide financial incentives for using “premium credits”, so taking advantage of them can save you hundreds of dollars on each month.
Although it is important to keep in mind: that only very small percentages of pet health problems are covered by this type of coverage, there are many options that can make this type of protection accessible to most pet owners. The types of procedures that are covered and the amount of coverage provided varies widely by plan. Before you enroll in a plan, it is a good idea to read what is included and what you will have to pay for. Pet owners should also talk with their current veterinarian to learn more about the advantages and disadvantages of their pet insurance.
This information can help you determine whether or not your pet needs this type of coverage.
