Considerations for Buying Pet Insurance

May 18, 2011 | By

The more diverse pet insurance products in the market have however resulted to a lot of confusion for pet owners. After all, pet owners do not really know what to buy when it comes to these insurance policies. At best, they will find an agent that they can trust and leave all the choosing the recommendations to the agent. But though this is also a great way to get a great deal, it is still vital that they understand what they are buying and know what they will be using should something happen to their pets.

Below are some of the things that you need to know about pet insurance. Read on and get familiar with the details. If you have already bought a pet insurance, then this will be good as you will be able to ask your agent and confirm with him or her what you have read. If you have not bought anything yet, then this is a good primer for you because these are things that you should really look into when buying pet insurance for your pets.

1. Coverage
The coverage can refer to two things. The period of time that your pet will be covered and the amount of money that your pet is covered for. Your pet can be covered for the whole of his or her lifetime or for a specific number of months, usually for a year. The former, you must purchase for one time only while the other is something that you have to renew every year. You can stop payments anytime with the annual insurance policy while the latter cannot be stopped. Otherwise, your policy will lapse.

For the amount coverage, your pet will be able to reimburse a certain amount of money when hospitalized. Although the reimbursement will of course depend on the actual costs, the amount coverage refers to the maximum amount that you can reimburse for a specific period of time, usually a year also.

Take note that pet insurance works through reimbursement. It does not automatically pay for your expenses. You need to make advance payments before they are given back to you by the company. This will mean that you need to have an established company that will be able to stand by you.

2. Services covered
There are pet insurance that will only cover the medical costs and check-ups while others will also cover the vaccinations and preventive medical costs. This is important to take note of because some pets are bought at a very young age and may need the shots for their health. If you can find an insurance that will also cover the vaccinations they need, you will be able to save a lot of money.

3. Start of the coverage
This is one of the things that you should look into. Some pet insurance will not be in force the day you signed into the contract. There are even insurance policies that will only take effect a month after the policy was signed. This is to protect the insurance company from pet owners who just buy policies because their pets are already sick. It will be better if you find insurance policies that will start right off. This will protect you and your pet immediately should he get sick.

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Category: Pet Insurance

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