Why You Should Compare Pet Insurance Companies and Coverage

 
It is important to compare different pet insurance companies and their coverage options because they all weigh pricing factors differently. Some of the biggest pricing factors include:

Location: Although most pet insurance premium rate tables take into account the state of residence, insurance companies will also take into account the actual zip code and specific area that your pet resides in. Densely populated and urban areas will have higher insurance costs than suburbs and rural areas do. More people and pets in less space tend to drive up the likelihood of illnesses and accidents that would need to be covered.

Age: The younger your pet is, the cheaper they are going to be to insure. Younger pets are more likely to be naturally in good health and have minimal issues early on. Some pet insurance carriers will actually refuse to cover pets past a certain age.

Species: As a general rule of thumb, dogs will cost more to insure than cats. If you have pets other than these two species, it is important to note that exotic pets can cost more, if they’re covered at all.

Gender: Male animals usually carry higher premiums than their female counterparts.

Breed: Large breeds will usually cost more for insurance. They tend to not live as long, and they wind up developing more health issues than smaller animals.
 

How Do You Find the Best Option?

 
Shop around, ask questions, and run the actual estimated numbers. Shopping around for pet insurance isn’t much different than shopping around for car insurance. Get at least three quotes so you have some idea what the basic price spread is going to be. The more you look around, the more options you will have to consider.

If your pet has certain conditions or afflictions, you need to know if they’re going to be covered or not. You also need to know what the waiting periods might be. Some pre-existing conditions might be treatable after a year of coverage under the right circumstances.

Running actual estimated numbers means looking past the raw quotes. Consider what various deductible and reimbursement levels might look like for the next year of likely vet and health bills for your pet. Also, look into discounts. You might save by bundling different insurance policies together or covering multiple pets at the same time.

The question to always ask yourself is how well pet insurance can possibly protect your finances? Your pet might go through the next year without any incident, but you’ll still need to pay your premiums anyway. What you’re looking to do is have the power to pay for your pet’s health in a worst-case scenario while still protecting your financial assets.
 

Key Takeaways

 
Your pet enriches your life in more ways than one, but they’re counting on you to help them live as long as they can and be as healthy as possible while alive.

• Pet insurance makes health care for your pet economically manageable.
• You pay monthly premiums and all bills in advance but can submit claims for varying levels of reimbursement.
• Compare companies and their specific coverage to find policies that would work well for your specific pet.
• The best policy does as much for your pet as your wallet.

 
The biggest benefit of pet insurance is not having to choose your financial health over the well-being of your pet. You really can enjoy the best of both.