Few pet parents are prepared for hefty vet bills, especially when it comes to unexpected injuries or diseases. For those not ready to spend thousands of dollars at the vet but who want to offer their furry family member the best possible care, pet insurance is a viable option.
What is pet insurance?
Pet insurance can be thought of as a cross between health insurance and property insurance. It covers vet care and other medical costs, but it can also pay out should a pet be lost or stolen.
Different levels of pet insurance
Companies offering pet insurance have different levels of policies. The lower tier is usually accident only, covering treatment needed should the pet be injured in some type of accident. This would not cover preventative care or treatment for diseases, nor would it pay out if the pet were lost or stolen. The highest tier is usually premier, which covers all health costs, theft and loss of pet and sometimes even burial and cremation costs.
Breed specific diseases
Some breeds are predisposed to developing certain conditions. Chow-chows often develop hip dysplasia, English bulldogs require c-sections and Dalmatians develop vision issues. It is important be sure the provider will not exclude treatment of certain diseases based on breed.
Older pets and pre-existing conditions
Many pet insurance providers will refuse to create a new policy for an older animal or renew a current one. However, there are companies that allow you to lock in coverage when a pet is young to ensure care is available later in life. Animals with pre-existing conditions, no matter their age, can be denied coverage.
No network of providers
Pet insurance tends to be different from our own health insurance in a key way: there is no network of providers. Instead, you pay up front and then file a claim for reimbursement. If you have a vet you love, you’ll still be able to use them.
Ultimately, pet insurance policies are quite affordable. We suggest that anyone with a pet take out a policy to prevent ever having to choose between their animals and their finances.
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