How to Compare the Market for Pet Insurance
- 1). Look at what each pet insurance policy covers. Most pet insurance companies offer different levels of coverage, so the type of coverage varies from company to company as well as from plan to plan. Decide what you want covered, whether it's routine procedures like standard vaccinations or hospitalizations, X-rays and surgery. Find coverage that matches your needs. For example, if you want your pet's ongoing conditions covered and one company does not offer that, then you can eliminate that company as an option.
- 2). Compare pet health insurance companies standards for pet age. If you're insuring a newly born pet, then all pet insurance companies will accept you. However, if you want to insure an older pet that you've had for years or recently adopted, then you will have to shop around. Some pet insurance companies have age limits. For example, VPI Pet Insurance will not insure pets more than 10 years old. These standards can guide you to the right pet insurance company for you.
- 3). Look at the deductibles pet insurance plans include. Pet insurance companies establish deductibles that dictate how much you pay out of pocket for each vet visit and over the course of a year. Per-incident deductibles range from $50 to $100 for most plans. Annual deductibles are often more flexible, ranging from $100 to $1,000. Choose a deductible that fits into your budget, and keep in mind that lower deductibles often mean higher monthly pet insurance rates.
- 4). Evaluate the different ways you can submit and manage your claims. After a vet visit, you submit claim forms to your pet insurance company, which will reimburse you. This means that you pay the full vet bill out of pocket and have to wait for the reimbursement. The speed and ease with which you can submit and receive a claim is an important factor to consider. Some pet insurance companies, like ASPCA Pet Health Insurance, offer online Member Centers where you can track your claims. Some pet owners might find this convenient feature to be necessary.
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