As veterinary prices continue to increase, owners are conflicted. You want to be able to do everything that you can for your pet. However, finances are often a deciding factor when it comes to figuring out how to take care of your pet, even if it is not the best course of action.
It is heartbreaking when owners have to make veterinary decisions based on the money but unfortunately, it happens more often than we like. For this reason, more owners are looking for ways to help them pay for the care that their pet deserves.
How Pet Insurance Can Help!
Pet insurance is useful because it reimburses owners for a part of (or the whole) veterinary bill. The types of coverage vary by the plan you choose. Some of the options for coverage:
- Cover most injuries and illnesses
- Help when a pet is lost or stolen
- Help when a beloved pet dies
- Preventative medicine – like annual examinations, vaccinations, and medications like heartworm prevention
- More comprehensive plans
There are quite a few companies that are offering pet insurance. To make things even more confusing, these companies offer many different plans so that owners are able to choose the right plan for their pet (and their wallet).
You can choose plans based on what you want it to cover, how much you want to spend each month, or even what deductible or co-insurance you are comfortable with. Each plan will have advantages and disadvantages, so it is important for owners to really understand the plan that they choose.
What To Consider When Looking for Insurance for Your Pet:
- How much you can afford to pay each month. It is important that owners find a plan that they can afford each month. Even if it is not much, it should be helpful if you are ever in an emergency situation.
- Whether preventative medicine is included in the plan or not. Most plans are for injuries and illnesses. Owners just want to be prepared in case of emergency but, if they can afford a better plan, it might be nice to have their pet’s preventative medicine included.
- Whether pre-existing conditions are covered. A pre-existing condition is one that was diagnosed prior to insurance. Usually, they are not covered. Owners must be careful because some insurances consider ongoing, chronic conditions a pre-existing condition.
- Whether congenital and hereditary conditions are covered. This includes hip dysplasia, heart defects, and similar problems. These conditions may be defined by breed so owners really need to understand the plan that they choose.
- How much of the bill will be reimbursed. Some plans cover all or a part of the exact bill. Owners need to send the bill in so that they can be reimbursed. Other plans go by prices that they believe veterinary hospitals should be charging, no matter what owners are actually charged. Owners may or may not be able to get a copy of these allowed fees in advance.
- What limits are set. Insurance companies often set limits. Some plans have annual limits that they will pay out while others go by the lifetime of the pet. Some plans only cover a certain amount when it comes to a particular condition or diagnosis. Some will only pay for one or two examinations and not any follow-up appointments that are necessary.