16 Mar What You Need to Know About Choosing Pet Insurance
Accidents happen, and it’s nice to think that in the event of an accident financial help could be on hand. But taking out pet insurance isn’t necessarily the best option for everyone.
Here are a few important considerations when choosing pet insurance.
Type of Insurance
You could choose basic accident-only cover, accident and illness cover, illness-only cover, or a policy that covers specific events. Comprehensive policies often cover surgery, hospitalisation and medicines, but other issues like oral health, vaccinations, and treatment for pre-existing conditions may not be covered.
The breed of your animal is likely to impact how much you pay in pet insurance premiums. This is especially true for dogs. That’s because some breeds are more prone to certain conditions and illnesses, and the lifespan of your animal can also be influenced by their breed. For example, a large dog is likely to be significantly more expensive to insure than a small breed.
If you are going to get insurance, then age is very important. Starting young helps lower your premiums, and after a certain age many insurers won’t cover your pet. For most insurers, that age is around 9, but it can be as young as 3 depending on the policy. The younger your animal is, the less likely they will have a pre-existing condition as well that may not then be covered.
This section of your policy can be quite difficult to comprehend, and even more difficult to compare with other plans when you’re shopping around. However, checking what is included in your insurance is one of the most important considerations.
Your policy may also have sub-limits – so, they will offer a maximum annual payout, but put a cap on how much the insurance will cover for specific conditions. It’s important to keep an eye on the amount of co-payments, excesses, and caps. If your vet fees are capped, you’ll find any pet that develops a chronic health condition will quickly reach the limit, for example.
Depending on your level of cover, you might find that many conditions and treatments are excluded under your policy. Dental care, vaccinations, desexing and preventative treatment are examples of treatment that you might still have to cover yourself. If your pet has a pre-existing or hereditary condition, it’s likely that condition will be excluded as well. Some specific conditions and treatments have caps that limit the amount you will be able to claim.
For example, some policies only cover foreign object ingestion once or twice a year, which is fine for the occasional slip up but not much use if your animal is prone to eating things they shouldn’t. Along with co-payments, excesses, and caps, you might find going to the vet is still quite expensive, even with all that pricey insurance.
If your policy offers add-ons, it can be a great way to get some extra value and peace of mind for your personal pet situation. You’ll have to check what specific conditions and inclusions your plan offers to make sure you’re getting the best deal. Maybe you prefer alternative treatments like homeopathy, or would like to include behavioural training for your pup – an add on is probably going to be your best bet to get your money’s worth.
Like all insurance, pet insurance can be a bit of a gamble – some people find their insurance ends up saving them thousands, while others aren’t happy with the value. It can be especially frustrating when a pet does need medical care, but the condition is not adequately covered.
Using a site where you can compare pet insurance options can help you get a good idea of what’s available and the best pricing for you. Alternatively, why not consider another option? You could see if your vet offers payment plans in case of emergency, so you know you’re covered. You could also consider putting away an amount of money that would otherwise go to insurance in a savings account, to be used in case of emergency.
Choosing Pet Insurance
Choosing pet insurance can be complicated, and there are many different aspects to consider to ensure you’re getting the best deal for your furry friend. It’s great to know in the case of emergency there is some funding to fall back on – but pet insurance is not necessarily the right decision for everyone.
Regardless of what you choose, here at Castelan we wish you and your pet the very best of health!