In the past, when a dog was struck by an illness, there was no other more ‘humane’ way to deal with it than to put it down. Today, we’re blessed with a lot of procedures and treatments that can save our pets and bring more meaning to their lives. Unfortunately, these veterinary advances cost a lot. And barring life-altering or even life-threatening diseases for our pooches, it is always best that we come prepared.
This is the main essence of pet insurance. It helps us offset some of the costs of routine veterinary care while also helping us pay for any illnesses or accidents that may come their way. Pet insurance gives us the ability to provide better veterinary care for our beloved pets. It is therefore crucial that we know how to choose the right insurance for our pets. Here are 5 tips for choosing the best pet insurance for your consideration.
Be clear about the must-haves and nice-to-haves in a pet insurance
This is one of the most crucial things you may have to do if you want to narrow down your choices from several tens to single-digit numbers. It is important that you have an idea of the things that are very important for your pet and for you as its pet parent and what things are nice-to-have. For example, most pet insurance do not necessarily cover behavioral treatments in pets. But if pet behavior is very important for you then you can easily weed out those insurers that don’t cover for such services. You have to be clear on what you really need for your pet.
Compare the different pet insurers
If you are very clear on what you want from a pet insurer, you should be able to trim your options relatively easily. From this trimmed-down selection, make sure to perform a side-by-side comparison of their policies including coverages, exclusions, and limitations. Sometimes you think you may have already picked the right one only to find out later that they have a certain exclusion to the kind of treatment that you would want your pet to receive.
Check the track record of each pet insurer
There are some pet insurers that may have run into trouble in the past and are now substantially trying to rebuild their reputation. There may also be those that, over the course of several years, have managed to change their business name several times. Steer clear of both since they are usually taken as red flags in the industry. You want an insurer that you can put your trust in. After all, you are investing your money in them for something that hasn’t occurred yet.
Study how the insurer usually pays for a claim
You want a company that will pay for the expenses incurred for your pet’s veterinary care. As such, you would want to study how much you are actually going to pay from your pocket and how much will be shouldered by your insurer. There are also some companies that have excess payables, meaning you will also have to pay for them yourself. So make sure you understand how the company pays for each claim.
Be mindful of coverage gaps
Some insurers have a nasty habit of adding exclusions into the insurance policy’s terms and conditions just before you sign the contract. Make sure to read the fine print because these coverage gaps are always written in very fine print so you will not want to read them. Make sure you understand the implications of these things before you affix your signature.
Picking the right pet insurance is almost similar to picking insurance for ourselves. We simply would want the best coverage for our pets to live healthier, more normal lives.