CAN YOU GET HEALTH INSURANCE FOR YOUR PETS?

Veterinary bills can add up quickly, but did you know you can get insurance for your pet to help alleviate the cost? Pet insurance works a bit different than human insurance in terms of coverage and there are some rules that apply. If you did not know this was available for your pet, I recommend you do some research and figure out what company and plan would work best for you at this time! Pet insurance is not for everyone. The purpose of this post is to bring to your attention the existence of pet insurance so that you can research and make a decision on your own whether is it right for you and what company best suits your personal needs. This post is in no way associated with any of the companies listed below.

WHAT IS PET INSURANCE:

Pet insurance is health insurance for your pets. It has a deductible that must be met before coverage kicks in. Then the percent of coverage you get is based on the plan you choose. Every company runs a little differently, in terms of monthly costs, what is covered, personalized plans available, etc., so be sure to figure out what you want before signing up with a company.

HOW DOES PET INSURANCE WORK:

1. Getting started

   1. Once you have selected the company you want to sign up with, you will need to send them a copy of your pets whole medical records for them to review. This includes anything from the breeder, shelter, or any veterinary hospital the pet has been to.

2. Veterinary Check-up

   1. Before approving your coverage, your pet will also need a recent check-up from a veterinarian.
   2. With pet insurance, you can go to any veterinarian you want no matter what company you have. Check out our article on how to pick the right vet for you and how to have a good relationship with them.

3. Payments

   1. Pet insurance is a monthly fee that you pay to the company to have your pet insured.

4. Reimbursement

   1. Unlike human insurance, you are responsible for paying the whole bill when at the veterinary hospital (unless they work out a payment plan on their end with you).
   2. Then you submit a photo of your itemized bill to the insurance company and they mail you a check for the amount reimbursed based on the coverage you have in your plan.

5. Deductible

   1. Some companies only have one amount available, whereas others have a few options ($250, $500, etc.) that you can chose to personalize your plan.
   2. The higher the deductible you chose, the lower your monthly payments will be, as you will pay more out of pocket before the insurance kicks in.

6. Coverage

   1. Just like deductibles, some companies allow you to choose the amount of coverage you want (70%, 80%, 90%, etc.).
   2. The higher percent coverage you choose, the more expensive your monthly payments will be, as the company will be paying more of the bill.

WHAT TO CONSIDER WHEN LOOKING:

1. Cost

   1. The monthly cost for pet insurance differs base on the species, age, gender, breed, location, and your pet’s past medical history. For the companies that offer personalized plans, the deductible and percent coverage you choose will also play a role in the monthly cost. We recommend choosing a monthly budget that you are willing to pay, and see what options you have.

2. Age of pet

   1. The younger the pet, the cheaper the monthly cost will be, as payments are thought to be spread out over an expected life period.
   2. Some companies have plans that specifically cover older pets. If you have a pet that is on the older side, looking for companies like these may be a better route for you.

3. Type of pet

   1. Many companies offer coverage to only dogs and cats. Exotic pets may be harder to find a plan for, and will most likely be more expensive.
   2. Also, dogs are generally more expensive to insure than cats.

4. Coverage wanted

   1. Most insurance plans do not cover routine costs (spay/neuter/dental, vaccines, flea/tick or heartworm prevention, etc.) so if this is something you want covered, we suggest making sure you pay attention to what is covered in the plan you select.
   2. Exam fees are typically not covered either, whether it is a general practice, emergency room, or specialty visit.

5. Annual maximum

   1. Some companies have an annual maximum amount you can get reimbursed, while others have an incident maximum, lifetime maximum or no maximum at all. If you are a frequent flyer at the vet, this is something to consider.

6. Per Incident vs General

   1. Depending on the company, some may offer an overall deductible plan, whereas others may offer per incident.
   2. For example, say you have a $250 deductible on a general plan. Once you have paid your deductible out of pocket, the rest of the year is covered, no matter what your visit is for. If you have a $250 deductible per incident plan, you are responsible for paying the deductible each time you bring your pet in for a new condition. Say your pet has chronic ear infections. Once the $250 deductible is paid, all vet visits for ear infections will be covered for the rest of the year. However, if you bring your pet in for a different reason, such as an eye infection, you have to pay a $250 deductible again for that condition.

7. Pre-existing conditions

   1. Most insurances will not cover any condition/disease/sickness/etc. that your pet has had in the past, marking it as “pre-existing”. Let’s say your pet had an ear infection and then a month later you sign them up for insurance. Because it is now considered pre-existing, any future ear infections would not be covered.

8. Hereditary conditions

   1. Along with pre-existing conditions, some companies will not cover any conditions thought to be expected of a particular breed to get.
   2. For example, hip dysplasia is common in larger breed dogs (German shepards, etc.) and even if you sign them up as a puppy, that may be something that will never be covered.
   3. We recommend you read your plan closely to make sure you know what/what is not going to be covered in the future.

9. Wait period

   1. Wait periods are the time between the date you sign your pet up for insurance until the date that it kicks in. This will vary between companies. If you were to purchase a plan, it will not cover anything that happens until after the wait period is over.

10. Multi-Pet discounts

    1. Some companies give discounted rates for signing up multiple pets, so if you have more than one, try finding a company that will do this for you.

IS PET INSURANCE WORTH IT:

This answer is different for everybody. Consider the reason as to why you are looking to get it. Also consider your pet’s current health status. If you pet has been sick a lot in the past, many things will not be covered, and their medical history will raise your monthly cost. Whereas a young, healthy puppy/kitten will be a much lower cost.

Many people think the monthly cost is not worth it when their pet is young and healthy. And while that may be true, insurance rates will increase should you decide to get it when your pet is older or if they start to have medical issues. Also, accidents and emergencies happen to pets of all ages, and you can never predict if/when it will happen to one of your pets. So while it may seem unnecessary to pay for it in their first few years of life, it may come in handy should they need emergency surgery or develop any chronic diseases with age.

If you decide pet insurance is not worth it to you, we highly recommend putting some money aside in an emergency fund in case something were to happen.

Sometimes the peace of mind of knowing you have insurance is helpful as well. Knowing you will have the coverage makes it less of a burden on you if trying to decide whether you can afford the treatment for your pet at that time.

WHAT ARE SOME OPTIONS:

There are many pet insurance companies available. Most will give you a free online quote if you fill in your pets age, breed, gender, and maybe a few yes/no questions depending on the company. We recommend you speak to your veterinarian about pet insurance. They can help you decide if it is right for you and probably have a few companies they recommend. Here are a few companies you can browse to see which is the best fit for you! This list is not all inclusive and there are many of these companies that cover pets worldwide.

USA	CANADA	EUROPE	AUSTRALIA
Healthy Paws	Trupanion	Pet Plan	RSPCA
Pet Plan	Pet Plan	Nationwide	Pet Insurance Australia
Pets Best	Pet Secure	Troponin	Trupanion
Trupanion		Pet Health	Prime Pet Insurance
ASPCA		Pet First	Woolworths
Nationwide		Embrace	Knose
Embrace		Pet Secure	Bow Wow Meow
Pet First		Waggel	Pet Secure
Prudent Pet		Agria	Guardian
Spot

We hope you found this post helpful and that it gave you some idea of what is out there for pet insurance. Please feel free to comment, email, or reach out on Instagram if you have any questions that you would like to ask! We are here to help!