When choosing a pet insurance it's hard to know where to begin and with so many different companies now offering cover its easy to get confused. Maybe your wondering is it worth paying thousands in premiums over the life time of your pet when you might not spend this much in veterinary care. But on the other hand, if you do have a very sick or injured animal then pet insurance will save you huge costs in the long run. As you compare different insurance policies you will notice they vary on terms and premium prices so to help you along here are some facts to consider while you shop around:
Waiting periods: Are you covered immediately or does the policy need to be in effect for a period of time before it kicks in? This is an important question to ask your insurer.
Pre-existing conditions: Has your pet ever been treated previously for a chronic illness? If yes the insurer may exclude treatment cover for this problem for the entire duration of the policy.
Insurance company: Best to choose an insurance company that has a good reputation and been around for a while. Ask your vet for a recommendation, they will be able to help point you in the right direction.
Age restrictions: Many pet insurers do not cover pets over the age of 8 years-old. Important to confirm the policy lasts the lifetime of your pet and will not be cancelled when your pet reaches the age limit.
Maximum yearly payout: The amount paid out varies widely with each insurance company so it's good to find out what the limit is on the amount you can collect annually.
Payment procedures: Normally you are required to pay the vet upfront after which you then submit the vet's bill with a claim form to the insurance company. The waiting time for reimbursement is usually a couple of weeks. Find out what the average waiting times are from when you submit the claim to when your check will be sent out.
Different premiums: The more comprehensive/expensive policies cover accident, serious illness, vaccinations and dental care. Cheaper policies usually have a lower level of coverage and look after accidents and illness only. Be sure to ask does the policy cover medicine expenses. It maybe cost more to include this cover but will save you money over time.
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