Make sure you compare all the options before buying pet insurance. The table below gives you an idea about what each company offers. Pay attention to the rates, Deductibles and Waiting Periods. Also, consider Coverage options. This will help you choose the right insurance policy for your pet.
Rates
Rates of pet insurance vary depending on the age of your pet and the amount of coverage they require. Some providers charge more for older pets because they are more prone to accidents and illnesses. Some policies may not cover pre-existing diseases and could even refuse older pets. It is best to ask your insurance company for discounts and benefits before purchasing a policy. Multi-pet discounts are also available.
Numerous studies have been done to compare rates for pet insurance policies. One study found that cats were less expensive than dog insurance. The study found that cats visit the vet less often than dogs, and are therefore more affordable. There are many other factors that you should consider when comparing rates.
Options for coverage
When comparing pet insurance coverage options, keep in mind that not all plans are created equal. Some companies provide full coverage for all medical costs. Others offer only limited coverage for certain conditions. Many companies require that you pay a deductible. You and your pet should be aware that deductibles can vary from $100 to $500.
You should also compare the costs of veterinary care and the number of veterinarian visits that are covered. Policies that only cover accidents are more affordable than policies that cover all diseases. However, accident-and-illness policies are more comprehensive and include most procedures and vet visits.
Deductibles
The deductible is one of the most important aspects to consider when shopping for pet insurance. Different companies have different deductible amounts. While some companies have a $0 deductible while others may require you to pay $1000, there are many options. The amount that you pay will depend on your budget, age and pet's health.
You can either choose an annual deductible, or a per condition deductible. The former is easier to manage and best fits most pet owners. The latter requires that expenses are tracked by date and condition. Therefore, your deductible for a new condition may be different every time. It could take longer for your insurance provider to reimburse you.
Waiting periods
When choosing a pet insurance policy, it is important to consider waiting periods. These waiting periods are set by the insurer to ensure your pet is in good health and eligible for coverage. The common waiting period to purchase a policy is thirty days. But this can vary. Some insurers have shorter waiting lists, while others require a longer wait. Trupanion has a 30-day waiting list for sickness coverage.
There are many conditions that can be excluded from pet insurance coverage, and the waiting periods for coverage are different. Most policies include a waiting period for certain conditions, such as cruciate injury. For instance, a dog with hip dysplasia may have a longer waiting period than a dog with cruciate ligament injuries.
Percentage for reimbursement
The reimbursement percentage on your pet insurance policy can affect the total cost of your policy. Some companies have higher reimbursement levels than others. Your insurance will pay 80% of covered expenses if it has a reimbursement percentage of 80%. This means that you will only be responsible to $200 for your dog's injuries. But, if your pet has a chronic condition that needs constant care, you may have to pay more.
Generally, reimbursement percentages for pet insurance plans range from 80% to 90%. Higher reimbursement percentages are associated with a higher cost plan. A deductible must also be paid each time you submit a claim. The most commonly used deductible amounts for claims are $100, $200, $500.