If you have pets, you know how expensive veterinarian bills can be. Fortunately, there is a cost effective way to handle these costs. Pet insurance is available to pet owners to cover veterinary and medical expense for their pet in the event of illness or injury. This is an increasingly popular policy as veterinary expenses continue to increase. Without insurance, many people would be unable to afford treatment if their pet became sick or injured and would have no choice but to put their pet down. Preventative care and/or dental care are available on some policies as well. Some even offer additional benefits such as a payout if the animal dies, is lost or stolen, boarding costs for an ill animal, or trip cancellation coverage if you need to cancel a trip due to a sick animal.
If interested in purchasing pet insurance it is smart to buy it when your animal is young. This is because many insurance companies will have clauses that exclude pre-existing conditions to prevent owners from waiting to buy insurance until their animal has a problem. It is available on either a lifetime or a non-lifetime basis. With a lifetime policy, it will continue to pay for a condition for the life of the animal, though they may have per condition or per year maximum payouts. A non-lifetime policy is more restrictive because it will only pay out of a specific condition for a maximum of one year. If treatment were needed past the first year, it would be up to the owner to cover it out of pocket. Therefore, it is important to understand policy limitations upfront.
There are additional differences between policies that are worth considering when deciding which pet insurance plan to purchase. Some factors to think about before your purchase your policy are your deductible, co-pay, whether hereditary conditions are covered and how the reimbursement is calculated.
If you have questions about insuring your pet, be sure to talk to a professional agent today who can help you to consider all the options to make sure you buy the plan that works best for you and your animal.