More and more companies are jumping on the
pet insurance bandwagon but it is important to know that pet insurance
is a lot different than human health insurance. Let me break it down
into sections...
What does pet insurance cover and not cover?
Most
insurance companies will not cover pre-existing conditions. If your
dog has been diagnosed with a disease/illness, let's say hypothyroidism,
then medications and further blood testing may not be covered.
Additionally, most companies will not cover dental cleanings
(prophylaxis) because they consider them 'cosmetic', even though there
is significant periodontal disease. Any other procedures that fall
under the cosmetic category also won't be covered (tail docking, ear
cropping, perhaps even declawing). Also, many companies do not cover
alternative therapies like laser treatments, hydrotherapy/underwater
treadmill, accupuncture... etc. Wellness services like annual exams,
vaccines etc., are not usually covered unless you opt for additional
coverage.
Pet Insurance is mostly good for sudden illness or
injury. Often times there is a small waiting period between signing up
for coverage and being to submit a claim (I've seen waiting periods of
7-14 days). So it is mostly beneficial to cover you in an urgent
medical situation like acute pancreatitis, a broken leg, torn ACL, or a
run-in with some wildlife. I have seen many companies actually cover
the cost of euthanasia and cremation. Insurance will also cover
medications for the sudden illness/injury like pain killers or
antibiotics, but usually will not cover supplements even when you
purchase them from your veterinarian.
What optional add-on's are available?
Some
companies offer the option of add-on's for an additional amount of
money. For an extra cost, some companies will cover preventatives -
this would include wellness exams, vaccines, heartworm testing etc.
Some of the more 'updated' companies have additional coverage to
include alternative therapies and even dental cleanings!
What about discounts?
I've
seen at least one company offer discounts for insuring multiple pets,
as well as military discounts, or a slight discount based on your
individual pet's information. (A younger mixed breed dog will be
cheaper to insure than an older pure breed dog.) One company even
offers a small discount if you pay for the whole year up front instead
of monthly payments.
What is the process of submitting a claim?
In
my experience of filling out claims when I was a veterinary technician,
you (the owner) prints off a claim form and bring it to your hospital.
Your veterinarian (or a technician, if directed) will fill out the
claim with your veterinarian's diagnosis (and their signature), and
whether the pet is still under treatment or 'resolved'. There might be a
space where you or your vet's office will fill out the approximate
amount of money you spent on the illness/injury based on your invoices.
When it's all filled out, you send the form back to your company. I do
not know the time frame of when you receive your reimbursement.
Name Your Price
You
can usually chose the amount of coverage for the calender year as well
as choosing your deductible. You can choose for insurance to cover
$1,000 for the year or even up to $20,000 for the year, and deductibles
can be as low as $250 or higher towards $1,000. This way you have an
easier time choosing how much to pay on a monthly basis.
Some Pet Insurance companies you can check out online:
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