September is national Pet Insurance Month! In light of that, here are your options as a pet owner.
There are more and more pet health insurance options available to consumers each day. And like human health insurance, pet insurance coverage can vary widely. Classic pet health insurance is said to cover expensive, unplanned events. There are monthly premiums and a variety of deductible choices, different coverage levels, co-pays and caps that limit the total yearly or lifelong payouts. These policies may exclude older dogs, certain breeds, genetic conditions and pre-existing conditions. In addition, there are often discounts for covering multiple pets from the same household.
Basic types of pet health insurance include:
• Wellness (preventative services like vaccines, check-ups, blood tests at set fee)
• Prescription drug
• Cancer treatment
• Alternative therapies
• Accidental death.
Veterinarian Tim Banker believes that although pet healthcare can effectively mitigate high-tech veterinary expenses, it is underutilized. One possible reason is the persistence of stories about insurance companies that fail to provide expected coverage. The minutia of paperwork involved in properly filing claims can result in missing payments. The good news is that vet offices are becoming more adept at properly filing these claims on their clients' behalf.
Here are recommendations for finding the right care for your pet:
1. Consider your pet's health, age, predisposition to accidents and risk of inherited diseases to help determine what level of coverage you need.
With some careful pet health insurance research and planning, you and your pet can decide on the right choice.