What to Review When Selecting a Pet Insurance Policy

04/05/2023 Written by: AP Personal Insurance

In a world full of options, we want only the best for our fur babies. Making sure our pets live happy and healthy lives is most pet owners’ top priority and we understand shopping for insurance can be overwhelming. Pet insurance is a great option for those who don’t want the burden of expensive out-of-pocket vet visits or emergencies. If you’re considering a pet insurance policy, here are a few tips that may help your search.

Which Types of Pet Insurance are Available?

Just as pets come in a variety of sizes, so do pet insurance policies! Plans may include annual vet visits, or other routine tests and treatments for things like dental work, flea and tick prevention, etc. While you may need to dig deeper to discover what’s included in your coverage, depending on the insurance provider, there can be options available to choose from. Some of the most common types of pet coverage include:

  • Comprehensive
  • Accident Only
  • Wellness

Adapting Pet Insurance to Everchanging Circumstances

While you can never be too careful when it comes to your pet’s health, some people choose their coverage based on the life stages of their animals. For example, when kittens and puppies are young, they are more prone to accidents. As our pets get older, we might consider shifting or adding comprehensive insurance to our existing policies. Depending on what’s best for your pet, you can determine the type of coverage to purchase.

What Impacts Pet Insurance Premiums?

Since there is no “one size fits all” premium for pet insurance, it may be hard to calculate an average cost on your own. While some pet insurance providers allow you to customize your policy by selecting your deductibles or provide spending cap options, most providers also calculate your monthly cost based on the following factors of your pet:

  • Breed
  • Age of Pet
  • Location

Digging Deeper into Premiums

Unfortunately, some of our furry friends are more likely to develop certain medical conditions that may result in a higher premium, than those who have a lower risk of health issues. Just like humans, health problems tend to arise as we get older, so the older your pet, the more you can expect this to reflect in your premium. Your location can also impact the expense. Pet insurance tends to be more expensive in areas associated with a higher cost of living. Forbes offers a cost of living calculator, so you can see how your household compares to the rest of the states. Shopping around for a variety of quotes can give you an idea of what to expect your average premium to be and provide multiple coverage options to pick from.

What Pet Insurance Policies Don’t Cover

In comparison to human health insurance, pet insurance policies tend to have more limitations on what is covered. While every policy’s coverage varies depending on the provider, most pet insurance policies will not cover pre-existing medical conditions or any future issues stemming from the existing condition. Most policies do not cover dental care, pregnancy, or any preventable diseases that can be treated with a vaccine or other preventative measures. It’s important to ask and clearly outline what is not covered in your potential pet insurance policy.

How Do I Find the Right Pet Insurance Policy?

Shopping for the right policy is not always an easy task and having someone to lean on to ask questions is a huge help. At AssuredPartners, we’re here to be your guide and support you throughout the process. Get a quote today, and we’ll be in touch with coverage options for your furry friends!

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