Pets are a major part of our lives, so when they get sick or injured, we want to make sure their treatment costs are covered. Fortunately, many pet insurance providers offer coverage for vet bills that help offset these unexpected expenses. However, choosing the best pet insurance for your dog depends on several factors, including deductibles, reimbursement rates and limits. The top-rated providers provide a range of plan options, including accident-only and wellness add-ons. They also include hereditary coverage, which helps pay for costs related to breed-specific health risks, such as cruciate ligament injuries and hip dysplasia.
A pet insurance deductible is the amount you will have to pay before the insurance company starts paying on claims. Deductibles vary between pet insurers, and some offer annual deductibles while others have per-incident deductibles. Annual deductibles are typically cheaper, but you will have to meet the deductible for each individual incident before your insurance coverage kicks in.
Reimbursement rates and limits are the amount a provider will reimburse on each claim you file, after the deductible has been met. This is important because it will determine how much you will have to pay for your pet’s medical care. In general, higher reimbursement rates mean lower premiums, while lower rates will mean you’ll have to pay more out-of-pocket for your pet’s treatment.
Coverage includes a wide variety of treatments, from veterinary exam and consultation fees to hospitalization and surgery costs. Most plans also include prescription medication coverage, which can help with costs associated with chronic illnesses such as thyroid problems and arthritis. Some plans will even reimburse you for prescription foods and supplements your veterinarian recommends for a specific condition or disease.
Another important factor to consider when shopping for the right pet insurance is whether your selected policy will cover any pre-existing conditions your pet already has. All pet insurance companies have some form of pre-existing conditions clause that will exclude any illnesses or accidents your pet has had symptoms for or been treated for before you purchase a new policy. However, some policies will also have a waiting period, such as 14 days, for general accident and illness coverage, or longer for hereditary conditions like cruciate ligament injuries.
The best pet insurance companies also offer a wide range of plan options, including accident-only coverage and wellness or preventive care add-ons. Figo offers multiple accident and illness plans with different annual maximums, deductibles and reimbursement percentages. Their most comprehensive plan includes nonroutine dental care, alternative therapies and hereditary coverage. Additionally, Figo recognizes that some conditions are curable and will only cover them once the policy is in place. In contrast, other providers may consider them pre-existing and only cover them if they show up again after the wait period is over. In either case, the cost of the coverage will likely increase over time. This is why a long-term, lifetime plan is often a better option for some pets. pet insurance for dog