Pet insurance is health insurance for your pets. It helps you pay the veterinary bills when your pet get’s injured or becomes sick.
As a rule, it protects you from large unexpected vet bills due to accident or illness. Like puppies eating a sock or some other non-digestible object or your cat coming down with diabetes. Some pet health insurance companies offer policies for well visits and routine care such as vaccines and neutering others do not.
What your pet insurance policy covers…
What it covers depends on where you live, the company you choose as well as the policy you select. Generally speaking companies in the UK cover 100% of costs associated with the veterinary procedures covered by the chosen policy. While those in the USA and Canada cover 80-90%. All after you pay the deductible, of course.
While shopping around for pet health insurance keep in mind that different companies will insure against different things. And depending upon the policy/price point you choose, offerings can fluctuate within a company as well. For example, some companies will cover your pet for accidents and some won’t. The same goes for cancer or other MAJOR illnesses. It just depends on the company and policy you select so do your homework before buying.
Is The Cheapest Pet Insurance The Best?
It’s also important to note that you tend to get what you pay for so cheaper isn’t always better. Bottom line, the more expensive the policy the more procedures are likely to be covered. Remember cost is calculated in more than one way. There’s the monthly fee AND the deductible. Take BOTH into consideration when deciding the overall cost of the best pet health insurance plan.
Another thing to factor in is the peace of mind you’ll have knowing you’ll be able to care for your beloved pet during their time of need without fear of “breaking the bank”. I can remember when we were growing up my parents had to make some gut wrenching decisions concerning out pets because of unexpected vet bills. So I know first hand, that peace of mind can be priceless.
Pet Insurance Isn’t Health Insurance!
You may be surprised to learn that pet health insurance isn’t actually “health” insurance at all. In reality it’s a form of property insurance. This is why pet owners must pay their veterinarian upfront for service provided then be reimbursed (after submitting a claim) to their insurance provider.
Yes, I said you have to pay in full out of pocket! This is surprising to many of us who are used to our doctors billing our insurance companies for us. On the upside… this means that your insurance can be used with virtually ANY licensed vet, anywhere!