Americans are spending a whopping $18 billion on veterinary care and that number is expected to rise as more and more people are owning pets. Pet insurance can help take the burden off these costs, but do you know which plan best fits your four-legged friends?
Here’s what you need to know when shopping for pet insurance.
You may consider your pet a member of your family, so why would you not make sure they are covered if they get sick?
“Just like having insurance coverage for a person and being prepared for that situation that hopefully never happens, you can do the same for your pets,” said Jason Levine, Vice President of Harry Levine Insurance.
But unlike human health insurance, pet health insurance typically only covers accidents, illnesses, and other unusual health events.
“They don’t cover routine things like shots, like your annual wellness exams,” said Levine.
They also don’t usually cover pre-existing conditions. You can buy health insurance for your pet at any age, but just like human health insurance, it’s going to be less expensive the younger the animal.
One thing you want to look for when you are looking at policies is whether the policy is an indemnity where you pay first and then submit for reimbursement. You also want to make sure there is not a cap on payouts for either one illness or for lifetime coverage.
Pet insurance policies can range from $200 to $800 depending on your deductible, age, and breed of your pet. You can compare different pet insurance policies at www.petinsurancereview.com.