Pet Insurance: What It's All About And How To Find The Best One For You

How To Choose Pet Insurance
Pet insurance is an important cost to consider for the safety of your pets and your wallet. Luckily, my cats have been low maintenance over the years and only really required the basic yearly visit. However, anyone with pets knows even the healthiest critter can get themselves in trouble with their own shenanigans. Unfortunately for us, on top of all that worry, the vet bill can end up costing thousands. 

For example, years ago my parents had a new bulldog puppy who managed to eat the popsicle and stick in one gulp. A few thousand dollars later for emergency surgery she was fine. However, most of us don’t have extra money set aside for catastrophes. This is where pet insurance may be the best choice. 

Cat owners may scoff at the idea of pet insurance, as surely everyone knows dogs cause more trouble. However, cats actually make up approximately 20% of animals covered by pet insurance. Policies can start at $15 a month, which can pay for itself if an emergency arises. 

After doing some research, I actually found that pet insurance is pretty simple and straightforward. Which is great news, since no one needs more complicated policies with health, homeowners or auto insurance already on everyones’ radar.
 
Here are a few main touch points for you to know about pet insurance:

What does pet insurance cover?

• Unlike humans, pet insurance does not cover routine visits or checkups.
  
  
• It can cover prescriptions, X-rays, bloodwork, MRI scans, eye or skin issues, broken bones, surgeries and infections. Some policies can cover dental work as well.
  
  
• It is important to know that pre-existing conditions are not covered. This can also exclude some typical health issues consistent with certain breeds. Some breeds may be excluded completely.
  
  
• Policies are available for exotic animals!

Who accepts pet insurance?Any licensed veterinarian can accept pet insurance. This is much nicer than human health insurance and worrying about in or out of network. With pet insurance, you pay the bill upfront, take the paperwork and submit it for reimbursement. How simple is that? 

​Can I adjust my policy?As with any insurance, you can add a ‘rider’ for a special condition or treatment, such as physical therapy. Think of it as planning ahead.

When should I get pet insurance?Same as humans, the younger you start the policy and continue it, the less it will cost. A new policy for a 10-year-old cat may be super pricey. Some policies may also come with an age limitation on a new policy for older animals. 

Does pet insurance have fees?As with human health insurance, there will be decutibles and copays. Deductibles typically begin at $10. There may also be annual caps on policies. 

Can I get pet insurance through my job?Some employers do have pet insurance available! So be sure to ask your insurance representative or HR rep what your employer offers. 

For more information about pet insurance, take a look at this easy guide from Money.com. 

If you’re thinking about getting pet insurance for your cat or dog, research several policies to find one that works best for you, your pet and your budget. A little monthly bill may end up saving you lots of money, so consider pet insurance for 2021. 

Happy holidays everyone!