It is important to fully understand the process before purchasing pet insurance. You pay a deductible. These deductibles can be annual or per-condition and must always be met. Some companies, however, have a "per-condition deductible." This means that every new condition your pet develops, you'll have to pay a new deduction.
Pre-existing condition coverage is not available for pets
Certain medical conditions may not be covered by pet health insurance, including certain types and forms of cancer. These conditions may not be curable. It is possible that a pet will require ongoing medical treatment after being diagnosed with such a condition. While pet health insurance might not cover these conditions, payment assistance can be provided to help you pay for the treatment.
Certain pet insurance plans will cover pre-existing conditions. They don't cover future conditions. It is important to compare coverage options so you can get the most comprehensive coverage. It is also a good idea to get pet insurance as soon possible, before your pet develops any health problems.
Annual deductibles
It is important to fully understand your pet insurance deductibles when searching for pet insurance. These amounts will vary from one company or another, so make sure you choose the right deductible for your specific situation. Annual deductibles may range from $50-$1000. You may be able to select a zero-deductible option with some companies, which allows you to only pay the monthly premium.
An annual deductible is a set amount you have to pay each year before receiving reimbursement for your pet's medical bills. A $500 deductible would mean that you have to pay the entire amount out of pocket each calendar year before your insurance provider will pay you. It may seem expensive, but annual deductibles tend to be less expensive than per-incident.
Reimbursement rates
Know how reimbursement rates work before you purchase pet insurance. These rates are based upon the percentage of your vet bills covered by your policy. There are two main ways to calculate reimbursements. One method uses a predeductible, while the second uses a postdeductible.
Most pet insurance policies will not cover all veterinary costs. You are responsible to pay for your pet's medical bills. Your coverage is determined by the reimbursement rate. You could be responsible for 10% to 30% depending on which plan you have. Without pet insurance, you may be liable for thousands upon thousands of dollars.
Limits on coverage
It is important to know the exclusions and limits for different types of coverage when shopping for pet insurance. Many policies have an annual maximum coverage limit. Your pet won't receive any further benefits until that year. However, some companies offer "unlimited" plans that do not have an annual limit.
It is possible for pets to have varying levels of coverage depending on their age and personalities. For example, a younger pet may be more prone to accidents than an older, more sedentary pet. Older pets are more likely to develop certain diseases, such as cognitive decline and cataracts. You should also consider your pet's breed as certain breeds are more susceptible to certain diseases.