Pet insurance provides financial security for you and medical support for your cat or dog. For aEach month, you can rest assured that you’ll be protected in the event of an emergency.
Whileare important (particularly with regard to ), it doesn’t work exactly like . While most Americans are familiar with the inner workings of theirs , and Pet insurance is a whole different animal.
That’s not to say that pet insurance isn’t a smart and inexpensive way to protect your pet. It is. However, to get the most benefit, there are now some surprising things to know.
If you think you would benefit from having your dog or cat insured then start today by getting a free quote.
3 surprising things you should know about pet insurance
Here are three surprising things to know about this unique form of insurance.
Pre-existing conditions are not covered
In contrast to health insurance for people, pet insurance discriminates against pets with previous illnesses. Providers may decline coverage for pets that have these issues before the policy begins. You may still be able to get some protection, but it doesn’t cover the main issues that existed before signing up.
That’s why it’s so important to start early. Whether your pet is new to the family or a few years old, it makes the most financial sense to enroll when rates are low and coverage is potentially more extensive. And if in the future there are nagging health problems, then your pet is already in the grandfather’s possession.
Review your options today by contacting a pet insurance expert, or use the chart below to find a policy that fits your needs.
You have to (temporarily) pay out of your own pocket
When people go to see their doctor, they can expect a co-payment, but not much more (bills for the entire visit may be mailed in the future).
That doesn’t work with pet insurance. When you go to the vet, you are responsible for all services your pet was receiving at the time of the visit. So you need to tap into savings or charge your credit card that day.
However, your pet insurance provider will reimburse you for the money spent (depending on your policy). All you have to do is make an application and submit it. From there, your insurance provider will process it and refund you the money spent.
In short: you don’t pay for many visits, but you do have to pay for the day, so plan accordingly.
Cats are cheaper than dogs
When it comes to the cost of pet insurance, the battle between cat and dog has a clear winner.
Cats, which typically require less grooming than dogs, tend to be cheaper to insure. And if the vet does have to be visited, the required service is often cheaper than with dogs.
“Despite the fact that dogs live fewer years on average, you could still easily spend $1,500 more over their lifetime to insure a dog than a cat,” noted Money.com in an analysis of pet insurance costs Celebration.
However, more expensive is relative as the price of insuring both animals is reasonable. Pet insurance costs vary, but you’ll generally pay anywhere from $30 to $70 a month for a dog and $15 to $40 a month for a cat.
The final result
Pet insurance offers owners unique financial benefits, but it doesn’t work like other types of insurance. Consider these factors when creating an intelligent coverage plan for your pet.
Speak to a pet insurance expert today who can help you get started with an affordable and reliable policy.