Paperwork: Image by Nerdcoregirl, FlickrIt can be a challenge to pick the perfect pet insurance plan. There are so many factors that come in to play, you might not even know where to start. Keep reading to learn what you need to know to choose the perfect pet insurance plan.
1. What's The Cost?
Cost and monthly payments aren't as simple as they may seem. A lot of factors come into play, such as a deductible, monthly premium, waiting period, and maximum payout. You'll need to ask questions about all of these, and compare between insurances to see which one best suits your needs. Keep in mind that while a higher deductible may result in a lower monthly premium, you'll have to pay more if you need to take your pet to the vet. A higher monthly premium may result in lower out-of-pocket costs should something happen to your dog. So, choose carefully.
2. What Does It Cover?
It's best to make yourself aware of everything an insurance plan covers before you go out to purchase it. The ideal plan will cover:
- Routine care, such as annual exams, vaccinations, teeth cleaning, etc.
- Illness. Not only common ailments, but serious illnesses such as diabetes as well.
- Accidents. Cuts, broken limbs, and even surgery (in case your pet swallows something) should be covered.
3. What Are The Terms And Conditions?
Know the terms and conditions of an insurance plan before you purchase it. The terms and conditions should cover all requirements and exclusions in the plan, so you know exactly what you're getting into.
4. What Does It Exclude?
It's important to ask for a list of exclusions once you choose a pet insurance plan. Most of the time an insurance company will only provide the list after you've already signed up. This has to do with the fact that the company will need to review your pets medical history and records before they can give you an accurate list. Don't worry though, if you don't like what you see there's always the possibility of switching to another insurance plan.
5. What Changes Your Premium?
There are certain factors that might make your monthly premium increase or decrease. A premium is generally determined by co-pay and deductible, your location, the age of your pet, the amount of medical coverage provided, and the breed and species of your pet. It's not likely that the monthly premium will stay the same throughout your coverage, so be sure to ask how often the premium changes and all the factors that come into play.
With these things in mind, you'll be able to choose the perfect insurance plan to cover your pets needs. Have you purchased a pet insurance plan? Is there anything you'd like to share about it? Feel free to comment!
