Pet Insurance Information and FAQ

Before you make the decision to buy pet insurance for your four-legged, feathered or scaly friends, you should know some of the basics about pet insurance. Here are some of the more common questions asked.

There is additional pet insurance information in other sections of this web site for answers to questions specific to the type of pet you have.

Pet Insurance Facts

• Most policies are written for a one year term and will renew automatically, unless you choose to cancel them.
  
  
• Policies differ in payment options. Some must be paid for the year in advance and some offer monthly payment options. (Watch for those who charge a processing fee for the monthly payment option.)
  
  
• Some pet insurance companies offer deductible choices. (The higher the deductible, the lower the premium payment. It also means your out-of-pocket expense will be higher if your pet requires medical treatment.)
  
  
• Most policies cover illnesses and accidents with optional coverage for routine wellness care.
  
  
• Insurance plans pay in one of two ways:
  
  a specific percentage of your veterinarian's bill, (good choice) or
  
  as a percentage of a benefit schedule which limits the amount the insurance company is willing to pay. (Beware of this type of plan.)
  
  Example: Your vet charges $500 for a procedure but the insurance company pays based on a benefit schedule which shows they allow $300 for this type of procedure. They then pay 80% of $300, or $240.00; not even half of what the actual charge is.
  
  
• Some insurance policies make you choose one of their veterinarians. Other plans allow you to choose your own veterinarian. (Pick a plan that allows you to visit the veterinarian of your choice.)
  
  
• Some insurers will only cover your pet until it reaches a certain age and most policies increase rates as your pet ages.
  
  
• Some pet insurance companies will not insure your pet unless it is in good health at the time of policy inception. Nearly all exclude pre-existing conditions, but watch for those who will not accept your pet because a condition has already manifested itself.
  
  
• You may want to check out the dog insurance and cat insurance sections of this site for other things to watch for.