How Does Pet Insurance Work?
Pet Insurance in today's modern world can cost as little as $5-$8 a
month, or fetch upwards of $50 per month or more! Dependent upon the
animal type, pedigree, age (typically a substantial premium increase
around 6-10 years old or more), preexisting conditions, and even
Much like other forms of insurance, there are a wide variety of coverage
plans available to insure your pet. Some pet insurance plans work on an
annual basis, requiring a monthly or annual (typically discounted if you
pay at once) payment.
Some pet insurance plans, typically when it's youngest or you're just
starting out, will honor the same price for the previous year, dependent
upon if any, the nature of previous claims, the previous, and current
condition of your pet or pets.
Ironically enough, location does in fact play a factor. Understandably,
this makes sense--considering if you live in a highly populated area or
a major city, as the likelihood of injury or loss can double or even
triple. Therefore, pet insurance providers reflect such possibilities
and variables in the premium quote that they offer to you.
For others, and it's definitely a valuable option, and you may even be
able to obtain a lifetime pet insurance plan-dependent upon the
agreement and stipulations of the contract, your pets previous, and of
course current health condition.
While some although not most pet insurance plans do cover costs of
advertising for your lost pet, traumatic injuries, or even medicine, it
can be extremely costly. As much as we hate to say it, the more you
value your pet's life and future are to you, the more you should prepare
to shelling out a substantial amount of money on a monthly to annual
basis - as needed or not.
Just as with many other types of insurance policies; there might be a
deductible, limited-coverage, or pet insurance plans that are
specifically designed to only handle life-threatening illnesses,
required inpatient treatment, and or not include medications. These are
all very valuable factors to take into consideration when determining
the most beneficial or practical pet insurance plan for you - since the
circumstances for each individual might vary, as well as the pet, and
naturally an older or previously sick pet may be more prone to illnesses
in the future.
Unfortunately, many pet insurance carriers beyond a one year limit will
refuse re-signing or providing continued coverage to a pet for insurance
if it has already had a recent sickness or disease - and you'll be
required to verify and have your pet evaluated at an approved
veterinarian before determining whether or not you and your furry friend
are eligible for coverage in the future.
Ultimately, shopping around and weighing the pros and cons of each plan,
taking your time, and understanding the cost to benefits ration of
short-term or long-term care might best benefit you. Determining whether
pet insurance is right for you and your little furry ball of joy should
not be avoided or viewed as an impossible task by any means!