Tag Archive for: pet insurance

Commonly Asked Questions About Pet Insurance

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Commonly Asked Questions About Pet Insurance Header

Pet insurance can be confusing but we’re here to answer the common questions about pet insurance. Our video on pet insurance is one of our most viewed and we get a lot of questions so I felt it was worth revisiting to help you navigate the world of pet insurance. If you did not watch our first video, go watch it first.

Here are the most commonly asked questions:

Do they cover preexisting conditions?

No. If a health issue has already been diagnosed with your dog or cat, they will not cover it. Usually, after your first claim, they will request all past veterinary records and base their decision on what is covered from those records. There are some companies out there such as PetAssure, that will pay towards pre-existing conditions. For PetAssure your vet must be in network. This is not the same as insurance.

Is there a wait time?

Yes. There is a wait time before coverage starts, generally 30 days. Some companies offer gap coverage which covers any health problems that arise from the time you get your pet until your normal policy begins. If you are offered this, take it!

Which is the best company?

This is probably the most common question about pet insurance. Each company has a slightly different policy that appeals to different people. Research them to find the one that is best for you. Check with your current home, rental, auto, or other insurance company to see if they offer pet insurance as well. Companies like Progressive and State Farm have pet insurance programs that you can get a discount on if you have other services by them.

Do they cover 100% of costs?

Generally no. Most pet insurance policies cover 90% or less of the cost of your veterinary expenses. There are policies that offer less coverage for a lower cost, which is more affordable for some people.

Do they cover preventative care?

Generally no. Normal preventative care, including dental care, is not covered under most policies. Again, companies like PetAssure work for preventative care as they are not insurance and more of a discount card. Think of it how GoodRx works for humans.

Do costs increase over time?

Yes. Generally, the premium for a policy will increase each year as your pet ages.

How do the veterinary bills get paid?

Unlike human policies, veterinarians do not submit bills to insurance. You pay the veterinarian and then you submit the invoice to the insurance company for reimbursement. If you do not have the money upfront, some programs like Care Credit can help bridge the gap until you get reimbursed.

Pet Insurance Infographic

Overall I highly recommend pet insurance for any people who do not have the disposable income to be able to pay out of pocket for large veterinary expenses. It is a terrible thing to have to decide between your pet’s care and our finances. Avoid that situation if possible!

Why You Need Pet Insurance

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There are few things more terrible than not being able to afford treatment for your pet in a medical emergency. Knowing that they need help, but not being about to get it for them feels like being punched in the gut. And that’s when having pet insurance can really help.

I just read a story yesterday about a dog that was sent home from an emergency clinic to die.  Sadly, the owners did not qualify for financing and they did not have the money to pay up front for care. Even though most insurances will reimburses after the fact, it would not have necessarily fixed the problem in that case, but in many situations it allows the owner to focus more on the best care of the pet rather than the financial side of the decision for treatment.

 

Top 3 Reasons Why You Need Pet Insurance

1. Vet bills can be huge and often come up unexpectedly 

Pets get sick, they have accidents, get hurt and need care. Did you know that according to Datamonitor, 1 out of 3 pets need unexpected care every year? What’s more, on top of that 4 out of 5 pets will  experience a medical emergency in their lifetime. Having the proper insurance for these times can be a life saver.

2. Saving money for emergencies is hard

Some people think a savings account is just as good as having insurance. However, that’s not necessarily true. Saving money is tricky, it can take years to save the amount needed for care. Plus, it can be wiped out pretty quickly and if they need more care in a few months you may not be able to cover it.

3. It gives you peace of mind

You can rest easy knowing that your pet is covered no matter what tomorrow brings. Peace of mind as a responsible pet parents is a wonderful thing!

 

For all of these reasons I was excited to discover that Colorado is one of the top states for pet insurance!

 

Make sure to keep an eye out for our future post on details of how it works and different companies.  In the meantime, if you have any questions about pet insurance just give us a call at Wet Noses Pet Sitting!

Pet Insurance Tips

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Owning a pet can be very expensive. Food, grooming and vet bills all add up quickly. So when a veterinary emergency occurs, paying for it can become stressful. Pet insurance can be a way to help pay for emergency costs, but it is it the right option for you?

 

What is pet insurance?

Pet insurance is a little different than human health insurance. With most pet insurance companies routine care (like vaccines) is not covered. However emergency visits, accidents or illness and their treatments are covered. With pet insurance, when the emergency or illness happens you take your animal to the vet and receive treatment, pay out of pocket and file a claim.The insurance company will then reimburse you for what you are covered for.

What should I look for when choosing a pet insurance provider? 

  1. How much coverage do you have?
    • There are various levels of coverage available. If you choose 50% coverage you pay less monthly. So for your $2,000 emergency visit you will only get a $1,000 reimbursement. A higher monthly payment means more coverage.
  2. How long will reimbursement take?
    • Reimbursement could take one week or it could take up to a few months. Find an insurance with shorter time frame to prevent a financial headache.
  3. Can you use any licensed veterinarian?
    • Some pet insurance companies will only reimburse you for visits at certain veterinarians. This could be a problem if you travel or your vet is not on that list.
  4. What is covered?
    • Some insurances cover everything, some only cover parts of treatment. For example some companies will not cover diagnostics (blood tests,x-rays, etc) . Most insurances will cover medications for treatment of an illness or condition. Some even cover alternative therapies (like acupuncture) and behavioral counseling.
  5. What is a pre-existing condition?
    • By most definitions a pre-existing condition is any non- curable condition your pet has prior to getting insurance. However some companies and plans will consider conditions your pet is predisposed to as pre-existing conditions. For example if you have a breed of dog prone to hip dysplasia (like German Shepherds), treatment of hip dysplasia will not be covered because this is a pre-existing condition.

 

Pet insurance can be a very good option if you have a pet who likes to get into things, or just to be on the safe side.There are about 10 companies offering pet insurance in the U.S., so you have many options in choosing the right plan for you and your pet. It is best to start pet insurance as soon as you get a new pet to limit the amount of pre-existing conditions. While choosing pet insurance, always make sure to read your contract closely so you can be aware of what will and will not be covered.