How To Find The Best Pet Insurance Company For You
When buying pet insurance, you’ll find it’s not much different from purchasing a health insurance plan for you and your family. There are essentially six steps:
1. Research Insurance Providers
Not only are pure pet insurers selling policies now, but so are established national insurers that offer other types of products like life insurance and car and home insurance. Fortunately, we’ve done the heavy lifting for you, and researching the best pet insurance companies will be a snap for you.
When you find an insurer or three you’re interested in, visit their websites. Get to know the company, its coverage, and its rates. Also, check out their online reviews and see what other pet owners are saying.
2. Get Multiple Quotes
Pet insurance prices will vary by breed, age, and insurance companies. Some pet insurers charge double their competitors’ rates to insure pets of the same breed and age.
Getting a quote on the insurer’s website will only take a few minutes. Getting more than one quote will help you find a price range you’re comfortable with.
3. Compare Coverage Benefits
Once you’ve narrowed your list of insurers down, compare their coverage. Some companies cover more than others in certain areas, and depending on your pet, those minor differences may be the deciding factor in picking your new pet insurance company.
For example, some insurers cover prescription food, alternative therapy, and dental illnesses. Some also offer coverage for the loss or theft of your pet.
4. Choose Your Deductible
Your deductible is what you pay before the insurance company starts to pay, so choose a deductible that you can easily afford. If it’s too high, you may not be able to get your pet the care they need. If it’s too low, your premium may be unaffordable.
Most insurers offer annual deductibles ranging from $100 to $1,000. If you don’t reach your annual deductible before the end of the year, your insurer won’t be reimbursing you for any of your pet’s medical expenses that year.
5. Select The Reimbursement Rate And Limit
Reimbursement is the amount the insurer will pay you back after filing a claim.
First, you have to select the percentage you’ll be reimbursed for your expenses. Options range from 50% to 90% (some insurers offer 100%).
Second, you have to choose a reimbursement limit, which is the maximum amount the pet insurance company will pay annually. It can range from $2,000 all the way up to an unlimited payout. The lower the limit, the less expensive your premium will be.
6. Enroll With The Provider You Selected
Fortunately, most pet insurers will allow you to complete the entire enrollment process online. Most of your information will already be stored from when you got a quote from the carrier, so all you’ll need to do will be decide on payment frequency and submit your payment information. You may receive a slightly discounted rate if you pay annually instead of monthly.