When looking for pet insurance, the first consideration is the kind of pet you have. The least expensive pet insurance will be for the most common types of pets, namely: cats and dogs.
These policies are typically very reasonable. For more unusual pets, the price for pet insurance will generally be higher. So be sure that any policy you buy specifically includes your type of pet. Otherwise, you may find that bargain pet insurance you just bought excludes your exotic pet.
Since the main reason you buy pet insurance is to cover medical expenses, you need to consider the exclusions that might apply. For example, most policies will not cover routine treatments such as vaccinations or flea control treatments. Also, the policy will not cover pre-existing conditions that were already known by you when you purchased the policy. This means you should declare any existing conditions when you buy the policy. Otherwise, you run the risk of it being declared an invalid expense when you make a claim.
Also check for claim limits and time limits, such as a long term condition such as arthritis only being covered for 12 months. Also, there will usually be a dollar limit that will be paid in any one year, so make sure it’s sufficiently high to cover most major expenses.
You’ll also want to look out for plans with a low deductible buy a high co-pay. This may look good at first glance, but will be more costly in the long run than a plan with a high deductible and a low co-pay.
Another good reason for taking out pet insurance is to cover costs of getting your pet back if it goes missing. Many policies cover things such as advertising a lost pet and providing reward money for its return.
Another thing to look for is third party liability coverage. Even if your pet is well behaved and friendly, it can still cause damage to someone else’s propery or accidentally cause injury. This can lead to huge legal bills, so it’s an important component of any pet insurance policy.
And lastly, check if the policy has a limit on the age of our pet. It’s later in life that your pet is most likely to need medical treatment, so if the policy is only valid until your pet reaches a certain age, you’ll want to know this going in, especially if you already own an older animal. This is an area that can vary widely depending on the insurance carrier, so it’s an important question to ask. You don’t want to pay pet insurance premiums for several years, only to find that that you aren’t going to have coverage when you pet is most likey to need it.
