With vet bills on the rise, pet insurance can be a smart investment. After all, surgeries and broken bones are expensive!
If you’re considering health insurance for your pet, here are a few things to know:
- If your pet has a pre-existing condition and you want to switch policies, make sure your new policy will cover your pet. Many policies won’t cover pre-existing conditions, so be sure to ask or read the fine print before you make the switch.
- Check the age limit. Older pets often won’t be covered past a certain age— usually around 12-14 years old.
- Consider buying coverage for 3rd party liability. Big dogs in particular can accidentally cause serious damage to property— such as destroying a piece of furniture while visiting someone else. Having 3rd party protection will give you peace of mind.
- Some pet insurance providers will cover routine office visits and rabies shots. However, these types of insurance providers that cover routine health costs will likely have higher premiums to cover the cost, and it may end up costing you more than if you paid the veterinarian directly.
- A good way to decide what insurance is right for you is to compare the cost of the routine care based on your pet’s age against the premiums. If your pet is young and healthy and the premiums are high with routine visits, you’ll probably save money by simply paying the vet outright and choosing a policy that only covers serious illness or accidents. It’s worth taking the time to make sure you have the right coverage for your pet. As with all insurance, you can control the premiums by choosing a higher or lower deductible.
- If you have a multi-pet household, do some research to find a policy that will accommodate you. Many times, multiple animals can be added to the same policy— which could end up saving you hundreds of dollars.
- Find out the payout limit and determine what is best for you. Some insurance providers cap you at a certain amount. If your bill is $3,000, and your limit is $1,500, that’s only covering half the amount.
What sort of experiences have you had with pet insurance? We’d love to hear about it in the comments below.