Thursday, January 23, 2020

Pet Plans Are More Than a Necessity

Well, in case you didn’t already know if you continuously refer to your pet as part of your family, you aren’t a pet owner. You are what it is called a pet parent.

And pet parents strive to offer the best for their furry friends. This is why many opt for purchasing pet plans. These get fast access to coverage in case of illnesses and accidents, which in turn enables a pet owner and allows him or her to choose the best veterinary treatments for a furry friend. And pet insurance can save a lot of money, as veterinary surgical procedures can exceed $3,000 in costs!

Still, pet plans are not created to help you in case of basic annual expenses that might come from having a pet. Vaccinations, yearly checkups, or necessary oral health appointments might not be included and can cost you up to $230 per year.

It is only reasonable to ask yourself whether or not it is worth having a pet plan. Recently, it has become prevalent amongst pet owners. Studies reveal that if you make an informed decision about the pet plan, you can receive a lot of benefits and amenities for your pet. At the same time, several online platforms, like PetInsuranceFinder, allow pet parents to seek and analyze distinct costs, coverages, and amenities offered by different pet plan providers. Many companies have positive rankings depending on their prices, services, reimbursements, and customer testimonials.

And if you are pondering about whether or not to purchase a pet plan, here’s what you need to be informed about:

  • The price of your policy is established based on your pet’s age, breed, and the area you live in. And you can lower the premium by committing to paying a higher deductible or co-pay. Many pet owners at the pet parents’ pet health community opt for a $200 deductible, which offers 80% coverage and a 20% co-pay. Typically, a young and healthy dog comes with a $30 monthly fee, automatically withdrawn from your credit card up until you submit a cancellation request. 
  • The coverage you get will not include several things. Pet plans don’t cover basic vet appointments. Yearly heartworm or shots, along with dental care, are not featured in many pet plans. Still, you will receive significant health compensation if your pet is involved in an accident or any other health emergency, such as cancer, congenital issues, surgical procedures, and many others.
  • You will receive reimbursements. This signifies you need to submit a request and wait for the approval. Overall, you need to redirect proof of veterinary services and a copy of the bill. Also, some providers can work directly with your veterinary office and provide pre-approval for expenses and cover the costs directly to the animal hospital.
  • Most providers will get you coverage after 15 days have passed since your request was accepted. And you won’t be obliged to submit your pet’s medical history until there is a need for reimbursement. Thus, you can receive your money back after the provider verifies your pet’s medical records and your vet’s office and, of course, after you met the deductible and paid the co-payment.
  • It is best to enroll your pet in a pet plan when he or she is young. Pre-existing health issues don’t receive coverage, and most companies won’t approve your request for enrolling in an insurance plan. Keep in mind that some breeds might face additional challenges prior to being deemed eligible for a pet plan. As an example, you will need to wait one year before you can access coverage for hip dysplasia for breeds that are predisposed to such issues. And some providers won’t allow you to get such coverage after your pet reached the 6 years’ age mark.

So, whether or not pet insurance is a necessity for you and your pet depends on many factors. If you have an overly active pet, you might need pet insurance to be prepared for unexpected accidents. Anyway, it is always best to assess how pet plans fit your budget, as there are instances in which they get quite expensive.

This is a guest blog entry.

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