Compare all options before purchasing pet insurance. The table below gives you an idea about what each company offers. Pay attention to the rates, Deductibles and Waiting Periods. Also, consider Coverage options. This will help you find the right insurance for your dog or cat.
Rates
Rates of pet insurance vary depending on the age of your pet and the amount of coverage they require. Providers charge more for pets older than usual because they are more likely to become sick or injured. Some policies may not cover pre-existing diseases and could even refuse older pets. It is best to ask your insurance company for discounts and benefits before purchasing a policy. A multi-pet discount is also possible.
Multiple studies have been published that compare the rates of pet insurance policies. One study revealed that cats tend to be less expensive than dogs. The study found that cats visit the vet less often than dogs, and are therefore more affordable. It is important to note that there are other factors that can affect the rates.
Options for coverage
Keep in mind, however, that not all pet insurance plans are the same. Some companies offer comprehensive coverage for all medical costs, while others offer limited coverage for only a few specific health conditions. A deductible is a requirement by many companies. This means that you must pay a predetermined amount upfront. Deductibles range from $100-$500, so it is important to determine which amount you can afford for your pet.
When comparing pet insurance options, you should also consider the cost of veterinary treatment and how many vet visits are covered. Accident-only policies are less expensive than those that cover all illnesses. However, accident-and-illness policies are more comprehensive and include most procedures and vet visits.
Deductibles
The deductible is one of the most important aspects to consider when shopping for pet insurance. Different companies have different deductible amounts. Some companies offer a $0 minimum deductible, while others require that you pay $1000. The amount you decide to pay depends on your budget as well as the age of the pet.
You can choose an annual deductible or a per-condition deductible. The first is simpler to manage and most pet owners will prefer it. The latter requires that expenses are tracked by date and condition. Therefore, your deductible for a new condition may be different every time. Your insurance provider may take longer to reimburse you.
Waiting periods
It is important that you consider waiting periods when you choose a pet policy. The waiting periods are set up by the insurance company to make sure that your pet is eligible for coverage. A common waiting period for a policy is 30 days, but this can vary. Some insurers may have shorter waiting periods, while others may require a longer one. Trupanion, for example, has a 30-day waiting time for coverage in the event of illness.
While waiting periods for pet insurance are variable, there are certain conditions that are excluded from coverage. For instance, most policies have a waiting period for certain diseases, such as cruciate ligament injuries. For instance, a dog with hip dysplasia may have a longer waiting period than a dog with cruciate ligament injuries.
Reimbursement percentage
Your pet insurance policy's reimbursement percentage can have an impact on the cost of your policy. Certain companies offer higher reimbursement percentages than other. Your insurance will pay 80% of covered expenses if it has a reimbursement percentage of 80%. This means that you will only be responsible to $200 for your dog's injuries. But, if your pet has a chronic condition that needs constant care, you may have to pay more.
In general, pet insurance policies have a reimbursement percentage of between 80% and 90%. You should be aware that higher reimbursement percentages can mean a more expensive policy. A deductible must also be paid each time you submit a claim. The most popular deductible amounts are $100 to $200 and $500 to $500.