7 Low Cost Pet Insurance Secrets

Once you learn the secrets that pet insurance companies use to prevent you from getting low cost pet insurance, you can turn the tables on them in your favor. So in order to help you comparison shop effectively, here are 7 very important things that all people should do who are in the market for a cat or dog insurance policy.

#1. Ask a Veterinary Technician

I HONESTLY BELIEVE that asking a veterinary technician for their opinion on where to get low cost pet insurance is the biggest secret out there. Vet techs talk to dog and cat owners every day. They hear owners rave or complain about their pet insurance polices. They know which companies pay out insurance claims the fastest and which ones raise premiums at the drop of a hat.

However, this can be a double edged sword as some clinics make money off selling polices. But I still think it is worth calling a couple of veterinary clinics and finding out what they recommend. They will also know who sells pet insurance in your state. Not all pet insurance companies are licensed to sell in all 50 states. For example some companies don't offer policies in the states of Alaska, Wyoming, and Massachusetts.

#2. Avoid Wellness and Comprehensive Plans

Wellness and comprehensive plans are the most expensive plans and where pet insurance companies make most of their money.

Odds are you will rarely use all the benefits in them. Some cover spays and vaccines, but your pet only needs to be spayed once, and vaccinated every three years. So why continue to pay monthly for these benefits?

Wellness and Comprehensive plans can easily cost over $100 a month. Throw in cancer coverage and it goes even higher. If you just want low cost pet insurance, go with the basic accident and illness plans. After all, accidents are the things that you can't plan for.

#3. Look for Coverage With Higher Deductibles

As with life, home, and auto insurance, the higher the deductible you choose, the lower the monthly premium will be. Some companies will let you choose your deductible, where as others have a fixed tier of deductibles, like $100, $250, and $500.

VPI Pet Insurance has 4 deductibles to choose from ($100, $250, $500, and $1,000). ASPCA Pet Insurance has a fixed $100 annual deductible for all policies. Trupanion has probably the most flexible plans when choosing deductibles. For example, you can choose any size deductible from $50 to $1000 in increments of $5.

If you want cheap pet insurance, go with the highest deductible you can. But to protect yourself you may want to keep $500 in a savings account, so you have easy access to the money just in case you need it. (like for a foreign body removal or orthopedic procedure)

#4. Pay Premiums Yearly Not Monthly

Many companies will give you a discount if you pay for your premiums yearly instead of in monthly installments. In some cases this difference can be substantial. So if you can afford to pay for a whole year up front, you should do it, because it can result in big savings.

#5. Pet Insurance Discounts

Since the pet insurance industry is a competitive one, they tend to offer a lot of discounts to win your business.

Always ask to see if you qualify for discounts. Ask for discounts for insuring multiple pets, for having your pet micro-chipped, spayed/neutered, or have completed an obedience training class.

Also many Internet sites have special discount codes that you can enter in order to get a better deal when comparison shopping.

#6. Compare Quotes

You simply won’t know who has the cheapest pet insurance if you don’t compare prices. I always urge people to get at least three quotes.

Yes, this takes extra work, but you can really save a lot of money this way.

#7. Employer Benefits

Many people may not realize this, but more and more companies are offering pet insurance as a benefit to their employees. This is often low cost pet insurance because they are buying the polices at a group discount.

Low Cost Pet Insurance Policies = Big Savings!

As you can see, finding low cost pet insurance is not that hard, but you do have to put in some work. Many people get lazy and when that happens they get talked into adding a cancer rider and wellness options to their policy, and then they are stuck with a $79 monthly premium, when all they could afford was $11 a month.

Don't let this be you. Review these 7 steps and do the work. After all, saving just $20 a month translates into $240 a year, and if your pet lives 10 years, that is a savings of $2,400! So it is worth an hour of your time trying to find cheap dog and cat insurance policies.

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