Insurance for Animals

21 Things to Think About Before You Buy

Insurance for animals can be a great way to protect yourself financially in case you face unexpected and large expensive veterinary bills. Here are 21 things to think about before buying insurance for animals:

1. Should the Animal Be Insured?

For many smaller pocket pets, the price of insurance does not justify the replacement cost of the pet or of any vet bills incurred.

2. How Much Should the Animal Be Insured For?

This is one of the most difficult questions to answer. For pets, the coverage limits are often set by the pet insurance company so you have no options. For higher priced race horses, insurance should also cover any future loses from the animal not being able to race.

3. Which Company Should You Pick?

With lots of companies out there it can be hard to decide on just one. But you can start by reading about pet insurance reviews and looking at this dog insurance comparison chart and or cat insurance comparison chart.

4. Are There Better Alternatives to Animal Insurance?

Yes, most financial experts think that insurance for animlas is not worth the cost and that you are much better of saving your money in a savings account. But there are also some financial experts who disagree with this statement.

5. Get At Least Three Quotes

If you do decide to purchase a pet policy, make sure you get at least three quotes so you have a good range of options to choose from.

6. Ask for Discounts.

Most companies offer discounts for several things, like multiple pet discounts, training classes, microchips, etc.

7. Beware of Deductibles.

Some plans might have a lower monthly premium, but they also might have a much higher deductible.

8. Lookout for a Coverage Limits

Besides deductibles, coverage limits can vary greatly, and often change with how much your monthly premium is.

9. Do You Really Need Comprehensive Coverage?

Often times just basic accident/illness protection is good enough for most people.

10. Which State You Live in?

Not all pet insurance companies offer plans in all states. Insurance is a highly regulated industry and companies have to be approved by the state government before they can offer polices.

11. The Age of a Pet.

The older the pet is the more expensive or monthly premium will be. After a certain age it almost becomes cost prohibitive to buy pet insurance.

12. The Type of the Pet

The type or species of the pet also has a great influence on how expensive your policy will be. Insuring animals like rabbits, lizards, and ferrets will be less expensive than insuring a large breed dog like a German shepherd.

13. Do You Need Liability Insurance As Well?

If you have a guard dog or any type of attack dog that guards your business or property you should also look into getting liability insurance as well in case your dog accidentally injures someone.

14. Total Cost for Animal Lifespan

Many people only look at how much their monthly premium is and fail to look at how much the policy will cost them over the lifetime of the pet.

15. Reimbursement Schedule Or 80%?

Some companies will reimburse you on a set schedule and others will reimburse you as a percentage of the total fee.

16. Talk to Your Veterinarian

Your veterinarian probably has the best experience as to which companies in your state are the most helpful to pet owners and which ones pay out their pet insurance claims the fastest.

17. Talk to Your Friends and Family

It's good to talk to your friends and family and see who they use for pet insurance and if they would recommend them.

18. What Is the Animal Used for?

If the animal is used for income producing activities for you and your family, then it would be a great idea to get pet insurance for them.

19. Read Some Online Reviews

Online reviews should be taken with a grain of salt, but can be helpful in making your final decision.

20. Actually Call the Company

Before you buy insurance for animals actually call the company and talk to someone in person. You want to know that when you have an insurance claim to file someone will be on the other end of the phone to answer your questions.

21. Do It Today

Don't wait until something happens to your pet before trying to buy insurance for animals. Do it today.