Apr 9, 2025 | Pet Insurance
How To Find A Pet Insurance Plan?
Guide For A Pet Insurance Plan
Pets hold a special place in our families. Many owners are willing to invest in their pets’ well-being, even when facing high veterinary bills. Pet insurance can be a great solution to avoid hefty expenses on medical treatments, making it crucial to pick a plan that meets both your needs and budget.
Here are some strategies to find top plans at the best cost:
Select the Appropriate Insurance Type
It’s essential to identify what you need from a pet insurance plan. Numerous providers offer comprehensive policies that cover a range of incidents and illnesses, including fractures, genetic disorders, hospitalizations, and surgeries. If financial security is your goal, opting for accident and illness coverage may offer more advantages than accident-only plans.
While cost is a major consideration, Alex Stone of PetInsurer.com advises against paying for a plan that doesn’t actually suit you. Aim to balance between the required coverage for potential health issues your pet might face and a price that fits your finances.
If preventative care is a priority, ask about wellness riders. Many providers offer these add-ons for things like routine checkups, vaccinations, and pest control.
Stone points out that insurance policies today are more comprehensive than before. Policies used to cover both accidents and illnesses, including issues like cuts or car accidents, but had certain limitations. Current plans often also include breed-specific issues, such as cancer common in golden retrievers.
Finding a plan tailored to your pet is the best way to maximize your financial investment.
Compare Different Options
Previously, comparing insurance policies required visiting each insurer’s website individually. Now, comparison platforms make it straightforward by presenting comprehensive information about policies and prices in one place.
Price alone shouldn’t drive your choice. Evaluate the waiting periods for various conditions; some may have longer delays, especially for issues like ligament injuries. Review customer feedback on comparison sites to glean insights from other policyholders’ experiences.
You can now effortlessly gather all necessary information without visiting multiple websites or filling out numerous forms.
Reduce Reimbursement Rates
Factors influencing your insurance cost include:
- Annual coverage limit: The maximum annual payout from the insurer.
- Deductible: What you pay upfront before insurance kicks in.
- Reimbursement level: The percentage of vet bills covered, typically 70%, 80%, or 90%.
- Optional riders: Adding wellness care increases costs.
To reduce insurance expenses:
- Lower your reimbursement rate instead of opting for the highest.
- Choose a reasonable coverage limit rather than unlimited.
- Opt for a higher deductible within your means.
Understand that any reduction in provider payments means higher out-of-pocket costs during claims.
Consider Emergency or Accident-Only Options
Comprehensive insurance might not match all budgets or pet needs. An accident-only policy can be a budget-friendly option, particularly for older pets not eligible for other plans. These policies cover incidents like accidental ingestion or vehicle accidents, reimbursing portions of medical expenses.
Accident-only plans typically don’t cover:
- Illnesses
- Dental issues
- Chronic conditions
- Cancer
- Breed-specific health problems
Alternatively, explore pet care memberships, which, unlike insurance, offer assistance for emergencies. For example, if your pet ingests poison, the emergency plan can cover treatment costs.
Pawp is one provider offering $3,000 in coverage for $19 a month, covering up to six pets with no deductibles, limited to one use annually in emergencies.
Add Preventive Care to Your Coverage
By adding routine and wellness care to basic insurance, you can raise your premiums slightly, but it helps save on regular care expenses, leading to lower overall costs in the long run.
Consult Your Veterinarian
Vets are invaluable resources for choosing the right insurance provider and coverage. Discuss with them before committing to a policy to avoid over-coverage or unnecessary expenses.
Some breeds are prone to specific hereditary conditions. Dr. Randy Aronson recommends working with your veterinarian to identify potential health risks before they appear.
Start Insurance Early
According to Dr. Aronson, it’s wise to enroll pets in insurance early, avoiding common pre-existing condition exclusions that accompany older age.
Explore Discounts
Look for discounts from insurers, such as:
- Annual payment discounts: Paying upfront for the year can cut costs.
- Multi-pet discounts: Save if you insure more than one pet.
- Military discounts: Available for active military members.
- Employee discounts: Some insurers provide this benefit.
Providers offer various cost-saving options. For instance, Embrace Pet Insurance has a vanishing deductible policy, reducing it annually by $50 if no claims are filed.