Your pet is invaluable, and you want to ensure they receive high-quality medical care. As a responsible pet owner, you know that preparing for the unexpected is crucial when considering your pet’s veterinary needs. Unexpected veterinary expenses are a normal part of pet ownership.

Although veterinary care offers incredible advancements to help pets live longer, healthier lives, these come with a price tag. Medical diagnoses and treatments, including magnetic resonance imaging (MRI), cancer treatment, advanced surgery, extended hospital stays, critical care, and rehabilitation, can be financially draining for some pet owners.

Investing in a pet insurance policy provides you with the peace of mind that comes with knowing that the costs of your pet’s care needs will fit your budget. With this financial safety net in place, you can make health care decisions for your pet based solely on their needs without being constrained by financial considerations. Our Oriole Road Animal Hospital team explains pet insurance details to help you decide whether pet insurance is right for your pet and your wallet. 

Considering pet insurance

Dismissing or delaying your decision about getting pet insurance is common, especially if your furry pal is young and in good health and has not needed specialized or emergency treatment. However, the reality is that most pets will require extensive veterinary care beyond routine checkups at some point in their lives. While setting money aside for these future expenses is a responsible approach, pet insurance can provide peace of mind by covering substantial veterinary bills when they arise.

When thinking about getting pet insurance, you need to understand the benefits of purchasing a policy early in your pet’s life. One significant reason to do so is that many pet insurance policies have a waiting period clause, which means your pet must wait, usually several weeks to several months, before the coverage becomes effective. If your pet needs care because of an accident, injury, or sudden illness during the waiting period, you are responsible for paying for their veterinary care costs in full. By getting insurance for your pet while they are still young and have a low injury and illness risk, you can ensure that they are protected and potentially avoid higher costs for treating any issues that may arise.

Did you know that many pet insurance policies do not cover pre-existing conditions? This means that if your pet has been treated for an illness before the policy goes into effect, the insurance company will not cover that specific condition in the future. To fully maximize the benefits of your pet insurance, you should enroll your pet in a policy when they are young and healthy. This proactive approach can help ensure that any potential future illnesses are covered under the policy.

How pet insurance works

Pet insurance works differently from people’s medical insurance. Rather than paying a co-pay during each vet visit, pet insurance policies require you to pay the entire bill upfront and wait for reimbursement after submitting a claim. Each pet insurance company’s reimbursement process varies. Some policies reimburse based on the actual bill, while others provide a set amount for specific services or procedures. 

Choosing an insurance policy for your pet 

With more than a dozen pet insurance companies operating in the United States, you have myriad options to consider. Each company offers slightly different coverages and terms, so you need to conduct thorough research to find the most suitable plan for your pet’s specific needs. Many of our team members have chosen to invest in pet insurance plans for their own pets, so if you have any questions, contact us for guidance. When researching pet insurance policies, compare the following details:

  • Monthly premiums/costs
  • Deductible amounts
  • Waiting periods
  • Exclusions
  • Lifetime limits
  • Payout maximums per incident
  • Add on costs
  • Coverage for pre-existing or genetic conditions
  • Age limits or premiums that increase as your pet ages

Compare these key points and determine which is most important to you. Once you have a good idea of what you’re looking for in a pet insurance policy, talk with a representative at each of your top three chosen insurance companies. Pay close attention to their customer service and ensure that they satisfactorily answer all your questions. In addition, check online reviews to gain insight into how the company operates in various situations.

Dealing with a beloved pet’s injury or illness can be incredibly stressful, and the last thing you want to worry about is how to afford the resulting expenses. When you have a reliable pet insurance policy in place, your financial burden is alleviated because you know the exact amount to budget each month, allowing you to concentrate on ensuring your pet receives the best care. This peace of mind is priceless and will enable you to make decisions based on what’s best for your pet’s health without being constrained by financial concerns.

Our Oriole Road Animal Hospital team recommends you take some time now to look into pet insurance before having to make a difficult decision in the emergency room. By enrolling in a pet insurance plan, you know you have the payments covered, which can be a sigh of relief. Contact us with your additional pet insurance questions.