Vet bills are going up in price and new, expensive treatments have become available. If you see your pets as part of the family, and you would anything to see them healthy and happy again (if they get sick), it’s wise to consider pet insurance. Comparing pet insurance is a good idea before you buy the one that will suit you and your pet best. Here are some things about pet insurance policies you should know.
An Early Start is Crucial
It’s highly recommended to purchase pet insurance when your beloved furry companion is young and healthy. In case you wait until they become ill or older, you’ll probably have difficulties with getting the cover you need or you might even have to pay too much for it. Pick a pet insurance policy that will pay out throughout your pet’s lifetime.
Claims Basis
Claims basis of a pet insurance policy is what determines how it will cover veterinary fees. In general, there are four types of claims basis: per condition, per year, per condition & per year, per condition without time limit.
Claims basis “per year” will provide you a set amount of money towards vet treatments in every policy year. In case you reach the limit in the policy year, the costs of treatment won’t be covered until you renew the policy the following year. Per condition claims basis will provide a set amount of money towards vet treatments for each illness or medical condition within the policy year. In case the limit’s been reached, that condition or illness won’t be covered in years to come. Claims basis “per condition & per year” will provide an amount of money toward vet treatments for all illnesses and conditions every year within policy. Once the you reach the limit in the policy year, cover for the treatment costs will stop until you renew the policy following year. Finally, “per condition without time limit” claims basis, contrary to “per condition” pet insurance policies, provides a set amount of money towards conditions needing treatment year after year.
Check out Maximum Fees
Before you pick a policy, it’s important to know the maximum amount of money it would provide towards veterinary fees. Keep in mind that most pet insurance policies don’t cover preventative, non-essential treatments, as well as the pre-existing illnesses and conditions. However, a good policy provides cover for hereditary and congenital conditions.
Theft and/or Loss
Choose a policy that covers theft or loss. In case that happens and you don’t find your beloved pet, you might be paid a lump sum which should cover the purchase price of your pet (or its market value). Of course, to be covered, you need to report theft or loss to the policy. Also, make sure that the policy covers death of your pet by accident or illness, but keep in mind that there’s an age limit regarding the death by illness coverage.
Comparison, comparison, comparison
There’s a wide range of pet insurance policies; they provide different cover and their costs vary. Comparing pet insurance policies is the only way to get the best deal. Make sure you read fine print, too. It’s recommended to ask your pet’s vet for an advice regarding the best claims basis and the best pet insurance company for your own pet. As I’ve already mentioned, choosing the right policy from the start is crucial!