Can You Tell Me The Basics About Pet Insurance?The basics that you need to know about pet insurance are few, but they are vital to understanding your policy and if it is right for you. If you are at all familiar with homeowners or automobile insurance you should not have a hard time figuring out pet insurance. Premium First of all there is a monthly premium you pay. Obviously the more coverage you want the higher it will be. If you just want basic accident coverage, the premium for your pet policy will be cheaper than if you buy comprehensive insurance. Deductible The size of your deductible also decides how much the premium is. One way to reduce your premium is to increase your deductible. Most pet insurance policies have a $100 deductible. Others let you choose, all the way between $50 and $1000. Remember, if you have a $100 deductible on your pet policy you have to pay that amount first before your policy will pay any of the bill. So if your vet bill is $99, you have to pay it all yourself.
Coverage limits vary a lot between pet insurance companies, so make you shop around. Some limits are as low as $1000 per illness, all the way up to $10,000. Your goal when buying pet insurance should be to get the highest coverage limits for the least amount of money. Discounts Always as for discounts when you are getting a quote. You can get discounts for multiple pets, microchips, training, or by belonging to a professional organization. With the wide variety of discounts they offer, you should be able to at least qualify for at least one. Pre existing and genetic conditions If you are new to pet insurance, than you may not know about pre-existing and genetic conditions. A pre-existing condition is one where your pet is sick with diarrhea when you buy your pet insurance policy. The diarrhea (or whatever illness your pet has) is labeled as a pre-existing condition and likely won’t be covered by insurance until after a waiting period. So buy a policy before your pet gets sick! Genetic conditions are diseases that certain breeds are prone to, like hip dysplasia. Some companies will not cover certain diseases if they show up in a higher incidence than normal.
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