If you’re among the 90.5 million households in America who have one or more fur babies in the family, pet insurance may be on your radar. With the rising costs of veterinary care, having the right coverage in place can provide financial protection against hefty bills from the vet. Insurance brokers like AssuredPartners represent several companies and can help guide you through the advantages and disadvantages of your options. Sit. Stay. Relax. Let’s dive deeper into all things pet insurance.
Pet insurance plans are typically reimbursement-based, meaning you pay the vet bills upfront and submit a claim to your insurance company for reimbursement based on the terms of your policy. While companies and options can vary, you can expect most to cover a range of medical expenses including accidents, illnesses and routine wellness care. Pet insurance policies have tighter restrictions on what’s covered in comparison to health insurance for us humans. Most policies will not cover pre-existing medical conditions or future issues that may stem from the existing condition, dental care, pregnancy or any preventable diseases.
Many people have a preconceived notion that pet insurance is expensive. According to an article by Forbes Advisor, it costs about $48 per month for a dog and as little as $28 per month for a cat. Deductibles, coverage limits, and reimbursement percentages are important factors that affect how much you'll get back after filing a claim. The breed of your pet, its age and where you live can also have an impact on what you’ll pay for a policy. It’s important to discuss these details with your agent so there are no surprises about what you’re paying and what exactly your policy covers.
The answer is it depends. As you can see, there are a lot of factors that go into insurance policies and no pet or family is the same, therefore coverage should fit your unique needs. Shopping around for a variety of insurance quotes rather than getting a price from one company can give you an idea of what to expect your average premium to be and provide multiple coverage options to pick from. Ultimately, your coverage should reflect what’s best for you.
Investing in pet insurance can help ensure your pets receive the necessary treatment without putting financial strain on their paw-rents. When in doubt, use a reliable resource to help you guide into the right protection plan. We’re here to help, get a quote with us and a real person will be in touch with solutions.
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