Nowadays more and more people are turning to a pet insurance company to help cover costs of pet care. Although determining the need for pet health insurance is a personal choice, there are some common types of items to look for in insurance policies:
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What ages of pets are accepted for coverage? Some policies have a limit on the age at the time coverage begins or drops coverage when the pet reaches a certain age. The ages vary depending upon species, breed, and life expectancy. If the coverage is not cancelled, the premium may rise.
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Which breeds are accepted?
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Who decides what is excluded and why is it excluded?
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What is covered and what is the amount of coverage in each policy? Some policies cover certain medical procedures only to a certain price level, while other policies cover a certain percentage of the price.
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Does the policy cover routine exams, vaccinations, heartworm preventives, and dental cleaning? Some companies include this in the regular policy while others have this coverage available at additional costs. Add up your typical veterinary clinic charges for yearly routine care and compare that with what the policy covers and the cost of that coverage.
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Does the policy have deductibles and co-payments? Some do; others pay only a flat fee per ailment irregardless of the actual cost.
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Are preexisting conditions covered? Preexisting conditions such as diabetes or breed-based genetic ailments are often excluded. Preexisting conditions are typically those that have an on-going treatment or have been treated within the past 6 months. Read the policy carefully.
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Is there a maximum payout? Some policies may have a maximum payout per ailment, per year, or per pet.
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For what reasons can the insurance company cancel the policy? Late payment? Change in the health or age of the pet?
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Are you insured against damage to property if your pet causes injury to another animal or causes an accident? Homeowner's or renter's insurance may already cover this. Be careful though, as some insurance companies (homeowner's or renter's) will cancel the insurance if the pet bites and you keep the pet.
But don’t be scared by these fussy procedures, according to VPI Insurance, the largest pet insurance company in the U.S., when you have finished all these preparation works in advance, the pet insurance claims process is fairly straightforward. Animal hospital office personnel complete the pet insurance claims form when you visit the veterinarian. You pay the vet's invoice and mail to the pet insurance company with the completed pet insurance claim form and voila! The claim has been submitted. You receive reimbursement based upon your pet insurance policy terms.
