We all want our pets to lead a happy and healthy life and that’s why we consider buying health insurance. When you consider that a series of x-rays can cost several hundred dollars and an MRI scan can easily top $1,500, the case for pet insurance becomes very compelling.
In today’s very competitive world, there are more than 40 pet insurance companies offering over 200 different types of policies. With such an enormous choice, choosing the right policy for your pet can be complicated and confusing.
Consequently, let’s try to keep things simple. Pet insurance plans fall into three categories: those that limit the amount paid annually, those that limit the amount paid per condition, and those that limit claims to one condition per year (this is usually the cheapest but certainly not good if your pet has a chronic condition such as diabetes).
So, to clarify things a bit and make it easier to choose a pet insurance company, here are 10 important questions to ask:
1. Is the claim limit an annual limit or a “per condition” limit?
2. If the limit is “per condition”, what is the time limit?
3. What are the deductible and co-pay amounts?
4. If your breed of pet is susceptible to any hereditary condition, ask if the plan will cover that.
5. What is the dollar limit on veterinarian fees for various services?
6. If your pet is stolen or lost, does the insurance plan cover the cost of advertising and a reward?
7. If you are hospitalized, does the plan cover kennel costs for your pet?If so, is there a minimum number of days you have to be in the hospital first?
8. Is third party liability coverage provided for your dog? If your dog causes injury or damage you could be held liable and this coverage protects you.
9. If your pet has to have emergency surgery right before you go on vacation, will the policy pay for any trip cancellation costs?
10. Is there a payout if your pet dies?
Oddly enough, your veterinarian may not always be that very helpful in answering these questions. They normally are familiar with only one or two plans and usually don’t keep up to date on changes. No surprise here, as they have all they handle with keeping up with the latest developments in veterinary medicine.
The best source for complete information in today’s world is the Internet. Just do a search for pet insurance, or dog insurance, or cat insurance and you’ll find the answers to all your questions.
