hero image

Your pet is part of your family, so you must ensure your pets are well and healthy. However, pet health costs are often very high because medical procedures and vet bills are quite expensive. Interestingly, pet insurance can lower costs while ensuring your pet's good health.

Related Topics (Sponsored Ads):

Pet insurance is not new, but is becoming increasingly popular. Pet owners should consider getting their pet insured. Just like human cover, pet insurance can help cover health costs for your pet for specific procedures and preventive care. For instance, if your pet needs expensive medication or procedure due to an unknown disease, pet insurance could be very useful.

Why Pet Insurance is Important

Having cover for your pet will give you some peace of mind. You don't have to worry about your pet getting injured or becoming ill and you won't have to dig into your pocket to pay for expensive treatment costs.

Usually, pet insurance covers various medical procedures. Therefore, it can help minimize expenses. It can also cover regular veterinary check-ups, so you don't have to worry about the costs you will normally incur during routine visits to the vet.

What you need to know about Pet Insurance

There are various types of pet policies to choose from. Basic insurance can cover things such as illness and accidents. You could also choose a wellness plan that covers vaccinations, wellness checkups, as well as routine vet services.

You can even have a customized plan for the needs of your specific pet. Premiums are paid (just like for normal insurance policies), and you might pay $30 - $50 per month. In addition to a monthly premium, you are also responsible for an annual deductible. As opposed to human health insurance, your provider reimburses you; you have to pay for your vet visit then apply to your provider for reimbursement.

Most policies have waiting periods. These ensure that people don’t buy insurance to cover emergencies and then cancel the policy straight after. For injuries, it is normally five days; for illnesses, it is 14 days.

There are restrictions on certain breeds and ages of pet, as well as for preexisting conditions. So, it is important to check which breeds are covered and which conditions are not covered.

Pet Insurance Providers

Pets Best: Offers insurance plans from $38 per month that include accident-only cover. The low annual maximum for its base plans makes it less appealing.

Healthy Paws: Offers single, comprehensive pet insurance plan that covers most situations. It doesn't have an annual limit on pay-outs, and reimbursements depend on the cost of the vet bill.

Embrace: Provides an option to customize your insurance plan according to the needs of your pet. The base plan is around $9/month for cats and $13/month for dogs, and you can enroll your pet up to 14 years.

Nationwide (former Veterinary Pet Insurance): Provides three insurance plans at the cost of $33 per month. Covers most services. On average, it costs $32/m for cats and $60/m for dogs.

Figo: Offers the most flexible pet insurance option with three-tiered coverage. There are plans to choose from that have annual maximums of around $10,000.

Related Topics (Sponsored Ads):