How To Find The Best Pet Insurance Company For You
When purchasing pet insurance, the process is similar to getting health insurance for yourself and your family. Let’s break it down into six simple steps:
Research Insurance Providers
Nowadays, both specialized pet insurers and well-known national insurers offer pet insurance. Luckily, we’ve already done the hard work of researching the best pet insurance companies for you. Finding the right one will be a breeze.
Once you have a few insurers in mind, visit their websites. Familiarize yourself with their coverage, rates, and learn from online reviews and feedback from other pet owners.
Get Multiple Quotes
Pet insurance prices can vary based on factors like breed, age, and the insurance company itself. You might be surprised to find that some insurers charge double the rates for pets of the same breed and age.
Obtaining quotes from different insurers will help you identify a price range that suits your budget.
Compare Coverage Benefits
After narrowing down your list of insurers, it’s time to compare their coverage options. Certain companies offer more extensive coverage in specific areas, and these differences may be crucial when selecting your pet insurance provider.
For instance, some insurers cover prescription food, alternative therapy, dental illnesses, and even loss or theft of your pet.
Choose Your Deductible
Your deductible is the amount you need to pay out of pocket before the insurance company begins reimbursing you. It’s essential to select a deductible that you can comfortably afford. If it’s too high, you may struggle to afford necessary care for your pet. On the other hand, if it’s too low, your premium might become unaffordable.
Most insurers offer annual deductibles ranging from $100 to $1,000. If you don’t meet your deductible within the year, the insurer won’t reimburse any of your pet’s medical expenses.
Select The Reimbursement Rate And Limit
Reimbursement refers to the amount the insurer will pay you back after filing a claim.
First, you’ll need to choose the percentage of expenses you’ll be reimbursed. Options typically range from 50% to 90% (some insurers even offer 100% reimbursement).
Second, you must decide on a reimbursement limit, which is the maximum amount the insurance company will pay annually. This limit can range from $2,000 to unlimited coverage. A lower limit will result in a lower premium.
Enroll With Your Chosen Provider
Luckily, most pet insurers offer online enrollment, making the process convenient. Since you already received a quote from the insurer, most of your information will already be on file. You’ll only need to decide on the payment frequency and provide your payment details. Keep in mind that paying annually instead of monthly may earn you a slight discount on your premium.