During these tough economic times, most of us have no other choice but to limit our budgets and cut corners wherever we can. Pet owners are no exception and since our pets have become members of the family, we must include their health and well being when planning our expenses.
Pet insurance can help avoid unexpected costs should a pet get into an accident or contract an unforeseen illness.
How does pet insurance work?
Pet insurance works on the principle of indemnity. In other words, you take your pet to the vet, pay for the costs of the procedure, then file a claim and get partial reimbursement from the insurance company.
Most companies will provide a reimbursement rate of 70% to 90% of the total bill minus the deductible.
Most good pet insurance companies will cover the following:
Emergencies
Surgeries
Tests
Treatments
Prescriptions
Hospitalization
Cancer Treatments
MRI, CAT Scans and X-rays
Lab tests and other diagnostics
If you are thinking of getting pet insurance there are a few things that you must consider:
The age of your pet.
The best time to join a pet insurance plan is when your pet is young and healthy; however there are several pet insurance plans that will accept senior pets at a reasonable cost so it is never too late to join a pet insurance plan.
The cost of the premiums.
The premiums are the fixed price you will pay per month for your pet's insurance. If you choose a plan that is flexible, you can keep your premiums low. If you choose wellness care (if available) your premiums might double. If you are looking to only cover major expenses in case of a major illness or an accident, you can keep your premiums low by choosing a higher deductible and forgoing wellness care.
Pre-existing conditions.
There is one thing you must realize and that is that no company will reimburse you for a pre-existing condition. For instance, if your pet has been diagnosed with diabetes before you join a pet insurance plan, any expenses incurred due to that condition will not be reimbursed. However, other conditions that may arise after enrollment will most likely be covered.
With premiums ranging from $10 to $60 a month, pet health insurance is within the reach of most pet parents and hopefully they will never have to decide between their budget and the life of their pet.
Pet insurance can help avoid unexpected costs should a pet get into an accident or contract an unforeseen illness.
How does pet insurance work?
Pet insurance works on the principle of indemnity. In other words, you take your pet to the vet, pay for the costs of the procedure, then file a claim and get partial reimbursement from the insurance company.
Most companies will provide a reimbursement rate of 70% to 90% of the total bill minus the deductible.
Most good pet insurance companies will cover the following:
Emergencies
Surgeries
Tests
Treatments
Prescriptions
Hospitalization
Cancer Treatments
MRI, CAT Scans and X-rays
Lab tests and other diagnostics
If you are thinking of getting pet insurance there are a few things that you must consider:
The age of your pet.
The best time to join a pet insurance plan is when your pet is young and healthy; however there are several pet insurance plans that will accept senior pets at a reasonable cost so it is never too late to join a pet insurance plan.
The cost of the premiums.
The premiums are the fixed price you will pay per month for your pet's insurance. If you choose a plan that is flexible, you can keep your premiums low. If you choose wellness care (if available) your premiums might double. If you are looking to only cover major expenses in case of a major illness or an accident, you can keep your premiums low by choosing a higher deductible and forgoing wellness care.
Pre-existing conditions.
There is one thing you must realize and that is that no company will reimburse you for a pre-existing condition. For instance, if your pet has been diagnosed with diabetes before you join a pet insurance plan, any expenses incurred due to that condition will not be reimbursed. However, other conditions that may arise after enrollment will most likely be covered.
With premiums ranging from $10 to $60 a month, pet health insurance is within the reach of most pet parents and hopefully they will never have to decide between their budget and the life of their pet.
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