Pet insurance facts to know

Male vet stroking a Chocolate Labrador puppy - 8 weeks

Pet insurance gives owners a unique opportunity to protect both their bank account and their dogs and cats. For a monthly fee to an insurance provider, owners can have peace of mind knowing that any medical attention their pet may need will be subsidized by their policy.

Time the benefits of having pet insurance are multiple and significant, it does not work exactly like other types of traditional insurance. From coverage exclusions to reimbursements, there are some important facts pet insurance owners need to know to better optimize their plans.

If you’re looking for pet insurance, start by getting a free quote so you know exactly what to expect.

Pet insurance facts to know

When considering a new insurance policy, it helps to do your homework first. Here are four pet insurance facts to know now.

Pre-existing conditions may not be covered

Pet insurance and pre-existing conditions have a complicated relationship Pet insurance doesn’t work exactly like human health insurance. Pet insurance providers, for example, may decline coverage for a pet with pre-existing conditions.

“A pre-existing condition is any injury or illness that occurs or shows symptoms before coverage begins or during a waiting period,” explains Spot pet insurance. “A condition is considered pre-existing, whether or not it has been officially diagnosed or treated; all that matters is when it occurred or when the first symptoms appeared.”

“A pre-existing condition is anything that happens before you enroll or during the waiting period,” explains Fetch by The Dodo. “Like other providers, we do not cover pre-existing conditions.”

But just because a provider won’t cover a pre-existing condition now, doesn’t mean they won’t in the future.

“However, with the plans provided by Spot, this does not mean that the condition cannot be covered in the future if it is curable,” continues Spot’s pet insurance.

“An injury or illness that is curable, healed, and free of treatment and symptoms for 180 days will no longer be considered pre-existing, with the exception of knee and ligament conditions. If a knee or ligament condition occurs before coverage begins effective date or during a waiting period, futures will not be hedged.”

While coverage for pre-existing conditions can be confusing, it doesn’t have to be. By answering a few simple questions, you can see what your pet qualifies for and how much it would cost.

You will be reimbursed for the coverage after your vet visit.

Another important way pet insurance differs from health insurance? He reimbursement model. When visiting the vet, you will be responsible for the services, procedures, and medications your pet received at the time of the visit. Therefore, you will have to take advantage of the savings or charge your credit card that day.

However, your pet insurance provider will reimburse you for the money spent (depending on your policy and coverages). All you have to do is file a claim and submit it. From there, your insurance provider will process it and return the funds you spent.

According to Fetch by The DoDo, owners will need to submit two documents to process a claim:

  • “A final bill from your vet showing why your pet was treated and how much was charged. A bill must show a zero balance or that it was paid in full in order for us to accept it.”
  • “Detailed medical records from your pet’s most recent checkup (a visit to the vet not related to your pet getting sick or hurt).”

“Claims are generally processed within 15 days of receipt of all your documents,” the insurer says.

Some types and breeds of animals are more expensive than others.

Different animals and different breeds. have different health problems than others. Consequently, the cost of insuring these animals varies significantly.

Dogs, for example, tend to be more expensive to insure than cats. Dogs prone to respiratory problems (think “flat faced” dogs like English bulldogs, Frenchies, etc.) are even more expensive to insure.

Abyssinian and Persian cats, meanwhile, can cost upwards of $40 each month if you want to set them up with coverage.

But the cost is relative. you may be able to get a reduced rate, even if you have one of these breeds. Get a personalized price quote now so you know exactly what to expect.

Your vet can help you create a policy that’s right for you

When choosing a health insurance provider for you, you may want to consider whether your doctor is in-network or out-of-network. But that’s usually where the considerations end. However, when it comes to pet insurance, your vet can give you much-needed expertise.

Your vet can help you tailor any insurance plan you’re considering. They are already involved with their animal’s medical care and see a variety of related problems on a daily basis. By asking your vet for guidance, you can more precisely tailor your pet insurance coverage to only what you need now, or may need in the future. This way, you won’t end up paying for protections you probably won’t use.

The bottom line

It is generally beneficial to have pet insurance. But homeowners should be familiar with how this type of insurance works to best optimize their coverage.

Talk to a pet insurance expert now to get started!

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