We have gotten some good pet insurance questions and tried our best to research helpful answers.
Since coverage and rules vary between companies, we’ll stick to general information. Most people are familiar with health-care insurance for themselves and their family, but what about their pets?Pet health insurance isn’t a new idea. It’s meant to help cover the four-legged members of the family. Yes, it can be valuable to have in case your pet becomes sick.
However, these policies need to be understood to get the most out of them. It actually reminds me more of Dental insurance for humans then a full blown medical plan. Deductibles can be high and coverage limits caped on some plans.
Routine veterinary care may not be expensive, but if your pet was to become sick or injured the costs could quickly mount up and be beyond your ability to cover these expenses.
This is the reason to have it. I never want to be in the situation where money decides the fate of my furry children. Is it a situation of better safe than sorry?
It’s better to have it and not need it if you can afford the premiums, than to find yourself with a sick pet and no way of paying the vet bills.
Most people are inexperienced when it comes to pet insurance, but this article will cover some of the basics when it comes to what to expect with your pet health coverage.
Do All Vets Accept Pet Insurance
Pet insurance works differently than typical health care insurance. You do not have to worry about finding a provider in the network or worry about whether or not your doctor accepts the insurance.
All you have to do is pay for the procedure and then file a claim with the insurance company.
The upside is being reimbursed for a percentage of the procedure. The downside is paying so much out of pocket initially and having to wait for the insurance to send you a check.
How Much Should I Pay for Insurance
Pet insurance rates, much like our insurance rates, will vary according to each person. Some insurance carriers decide the rate of their plans based on the person’s credit score.
Other underwriters do not use this method to determine the amount the insurance holder will need to pay each month. The average plan will run around $30 a month for a dog and $20 a month for a cat.
There may be additional fees that vary according to the insurance underwriter. Always make sure and check the information before you buy the insurance policy.
If you have any questions make sure and call the provider. If the wait is an impossible amount of time or they seem vague on their knowledge, go to another company.
If they are that horrible with potential customer concerns imagine what they would be like if you were a customer.
Unfortunately the downside to many animal type coverage is that you will have to pay for the entire amount out of your pocket before the insurance company pays you a portion back.
When you take your pet in for surgery you will need to take along a claim form that the Vet will complete. After completing the form and filling out the claim information, along with attaching copies of the receipts and invoices you’ll send the information to the address provided.
After reviewing the information the insurance company will mail out a check for the amount of the procedure they cover. Some veterinary clinics will make payment arrangements with you in case of an emergency.
If you have a long history of good payments to your vet, you can discuss this at a visit. Chances are high that he or she can work with you. The ultimate goal of both you and the vet is a healthy and safe pet.
How much will my pet insurance pay out? Often there is a limit on how much of the procedure is covered by the insurance company. This amount varies depending on which insurance plan you select.
Also what your deductible is and how much the actual procedure runs. When you sign up the company will provide you with a list of procedures they cover along with how much per procedure is covered.
The great thing about some pet insurance plans is they offer no refusal type packages where your pet cannot be turned down.
It does not matter if it is elderly or young. Most insurance policies have a fourteen day waiting period before the insurance is effective though.
Ask a vet professional about the coverage they recommend in the box on the right. They also might include a stipulation regarding preexisting conditions.
As an oddball example one condition that is included in the insurance policy we have but has a waiting period is treatment for an ACL tear. This exclusion requires a twelve month waiting period before any reimbursement.
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