Your Pet Insurance Guide For New Owners

So you just got this cuddly puppy from the shelter and wants to get him a pet insurance? However, you are a new owner and do not know the ins and outs of pet plans. Before doing anything with your intent to purchase one, getting to know the basics is essential. Educating yourself about insurance and different policies will help you choose the best health care for your new found best friend and finding a financial protection for yourself.

Benefits of Pet Insurance

Pet insurance is selling like hot cakes among owners because of the benefits they reap from it. Pet insurance:

  • grants the best veterinary care and protection for pets
  • helps owners save money from the high expenses of medical care the treatment
  • helps to ensure pet's health care maintenance
  • guides owners to responsible pet caring
Cost and Deductibles of Pet Plans

The monthly premium depends on the type of policy you choose. Pet insurance basic coverage can range from $15 to $30. A comprehensive medical care coverage costs higher and can stretch up to $1000 a year. Some insurers administer additional charges for supplemental or routine care like annual check-ups and dental care. Depending on the provider and plan selected, you can get a maximum policy term benefit from $7000 to $14,000.

Deductibles also vary based on which plan category you choose. The amount could be fixed or calculated in percentage with the total medical bill incurred in a treatment and medication.

Types of Insurance Policy

Insurers offer different terms and coverage in a pet insurance plan. Typically, there are three types of plans.
  • Catastrophic Plan - This program is considered to have the lowest premiums among all pet plans. It is ideal for pet parents whose budget is tight but at the same time wants to ensure financial help from high bills in case their beloved critter needs medical attention.
  • Basic or Entry-Level Plan - With less expensive premiums, this plan fits for owners with limited funds to pay the insurance. This scheme covers serious health problems or injuries that requires costly treatments.
  • Premium Plan or Superior Plan - Also known as "full coverage plan," this policy usually covers almost everything your pet needs. From each incident to regular veterinary care, most policies of this type can serve as your financial protection in light of major surgeries and serious illness treatments.
Insurance Coverage

Generally, pet insurance policies rescue pet owners from the financial dilemma of their pet's healthcare demands. Some of the typical health and medical-related predicaments a plan covers are:
  • minor and major surgeries
  • vaccinations and boosters
  • diagnostic procedures and laboratory tests
  • hospitalization
  • prescriptions
  • routine and emergency visits to a vet
  • treatment for major illnesses like cancer
  • dental or spay/neuter

Insurance Policy Exclusions

Every pet insurance policy has coverage exclusions. The cheapest premium means more exclusions, and vice versa. Nonetheless, there are rare cases a plan does not cover like hereditary defects or health condition that existed prior to buying the policy. As a new owner, it is best that you determine what medical coverage you want to purchase for your pet based on his needs and your financial capabilities.

 

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