With a pet in your life, you rarely have a dull moment. Sometimes surprises, such as discovering a new hiking trail, can be fun, but an unexpected health issue threatening your pet’s well-being can be devastating. If your pet has an unexpected illness or injury, the last thing you want to worry about is how you will pay for their care, but veterinary care is expensive, and unexpected procedures are often more so. Pet health insurance provides a financial safety net for your pet’s emergency and routine care needs. Our team at Aberdeen Veterinary Clinic explains how pet health insurance works to help you decide if enrolling in a policy is right for your furry friend and your budget.  

Pet health insurance covers a portion of veterinary expenses

Similar to human health insurance, pet insurance is a health care policy with a monthly premium that reimburses you for some of your pet’s veterinary expenses after you have met an out-of-pocket deductible. Most pet insurance companies require you to pay your pet’s veterinary bill in full and then file a reimbursement claim. Once the pet insurance company receives and approves the claim, they transfer the coverage amount to you via direct deposit or check. On the other hand, some pet insurance companies fully or partially pay your veterinarian directly. If your pet insurance company directly pays your veterinarian, you do not have to wait for reimbursement.  

Pet health insurance coverage varies by policy

Coverage varies by policy and provider, so consider your pet’s needs when shopping for pet insurance. Pet insurance coverage levels generally include:

  • Accident only — This coverage is for unexpected accidents or injuries, such as a broken bone, torn ligament, or bite wound, and does not include treatments related to illness.
  • Accident and illness coverage — In addition to accidents and injuries, this plan type usually covers the costs associated with the diagnosis and treatment of a minor illness, such as a urinary tract infection (UTI) or ear infection, as well as major illnesses, including cancer or chronic digestive problems.   
  • Wellness — Routine care, such as vaccinations and parasite control, is typically included in wellness plans for an additional cost.

The coverage amount you choose affects your monthly premium. Accident-only coverage tends to be the most inexpensive option, and a comprehensive policy that covers veterinary expenses for accidents, illnesses, and routine veterinary visits is more expensive.

Pet insurance considerations 

Pet health insurance policies are complex, and choosing the plan that works best for you and your pet will take some research and careful consideration. Keep the following considerations in mind before committing to your pet’s insurance policy:

  • Your pet’s age — Most pet insurance companies cover pets as young as 8 weeks of age, but may rule senior pets ineligible for first-time enrollment, or restrict them to certain coverage plans. The best time to buy pet insurance is when your pet is young and healthy. 
  • Your pet’s health — Most pet insurance plans do not cover pre-existing conditions, so If your pet has a health problem before they are enrolled, the insurance company may not cover the condition. 
  • Your budget — To ensure that a plan fits your budget, look for a customizable policy that allows you to select your deductible, reimbursement level, and payout amount. Consider the following insurance policy details: 
    • Deductible — Many companies allow pet owners to choose their deductible. With a higher deductible, you pay a lower monthly premium; whereas with a lower deductible, you pay a higher monthly premium. 
    • Reimbursement level — Most insurance companies offer reimbursement options from which you can choose, such as 70%, 80%, or 90%, when you purchase a policy. A higher reimbursement percentage means you can get more money back on your claims, and a lower percentage gives you a lower monthly premium. 
    • Payout amount — Some insurance companies have an annual limit. This is the maximum amount of money the insurer will reimburse you for claims within a 12-month policy period after your deductible is met. If an insurance company has no annual limit, it has no cap on the amount it will pay out in claims for covered veterinary costs.

Pet insurance can be a worthwhile investment for any pet, and our team at Aberdeen Veterinary Clinic is happy to provide recommendations. Contact us with pet insurance policy questions or to schedule your furry pal’s next wellness appointment.