How to Choose the Best Pet Insurance for Your pet

How to Choose the Best Pet Insurance for Your pet




























There are so many different pet insurance companies out there, and premiums are all different, so how can you know exactly what you're getting in How to Choose the Best Pet Insurance for your pet?


Which insurance company is good for a cat or her dog?


So I'll start by saying that pet insurance policies, they're not all equal and they do vary in many different ways, and that's going to be by country as well, and maybe different options depending on where you live, but by and large pet insurance policies they vary by the XS that there is so the amount that you need to pay, or the amount that the bill needs to be before they will consider accepting a claim and making payment for that treatment, I'm co-payments for another thing that varies.


What is the co-payment?


So a co-payment is a certain percentage of the bill that you may have to pay, so it might be that for example there's an excess of $100 and a 20% co-payment, now that would mean that for any bill that used to admit you would have to pay:

  • The first hundred dollars of treatment.
  • Then for anything else you'd have to pay twenty percent of the total bill.
  • Another thing is what's covered by this insurance policy.

So

  • Are all such oral surgical procedures covered?
  • Is it only medical cover that you're given?
  • Or vice versa sometimes you can get just surgical only procedures which are great if your dog or your cat breaks a leg?

But it's not very good if they get diabetes or have arthritis or they develop a complicated medical condition where they're I'm their treatment is not going to be covered.


The total amount covered is another thing that's going to change by policy, and so are they only covering you up to $1,000, for example, and whatever your currency I'd suggest that's not enough five thousand dollars ten-fifteen.


You know there are different amounts there that can be covered, and then.

  1. Is that amount covered per condition?
  2. Is it that amount in total if they break her leg?
  3. And then if they get another problem later on in the year is that also covered up to that total amount covered?
  4. Or is it per year?
  5. Do you have ten thousand dollars in your pet’s treatment pot for example?
  6. and if you use eight thousand dollars on fixing a broken leg there are only two thousand dollars left if something else comes along, so that's something else too to really kind of question and to be clear on with what's being covered?

Finally, exclusion, if we're getting insurance when our pet is young and ideally we should be there's not going to be any exclusions based on their previous conditions because they'll have been nice and healthy but are there exclusions based on breed, or are there low dollar limits placed on certain common illnesses or diseases that your dog might get? because of their breed, for example, I'm some policies I've seen have a really low amount that they'll cover for cruciate ligament rupture and the amount that's covered actually doesn't cover the cost of the best treatment option, so there are lots to consider when we're looking at insurance policies, and that goes for insurance for anything be that house insurance, contents insurance, vehicle insurance.


What's pet insurance covered and how much that's going to cost you?


You know they're all different, so it's important that we are very clear about what's covered about how much that's going to cost you, and what that cost, then provides for your pet should they become unwell we really need to weigh up all of these factors when comparing which policy is best for you.


You can also read this article.


Here you can find Best Pet Insurance for 2022



So we can't just decide based on a monthly cost because the low-cost ones you know are unlikely to provide the best cover possible for your pet becoming unwell there may still be very severe limits on what treatments able to be provided for them, and that's clearly not something we want to happen if we're insuring our pets in the first place.


So also talk to your vet as well while they may not be able to give you any specific advice and it may be that actually legally they're not allowed to give you specific advice because they're not financial advisors, and again that will depend on the country that you're living in are there any companies that they're happy to accept direct claims from, so some companies are really poor at approving claims some taken off or lots of time to payout, so it might be that you submit a claim and you only get that money back six months later.


Some clients have also been known to ring up, I'm after claims been submitted and then ask the insurance company to pay them, rather than the vet which is what was previously agreed and all these issues mean that in many cases unfortunately direct claims are not accepted and so that you will need to pay for the cost of your pet’s treatment.


At the time they need their treatment and then be responsible for claiming that back yourself in a lot of cases it's just too risky for the veterinarian to accept that direct claim:

  • Because it may not be approved.
  • Payment may not be made.
  • Payment may take an awfully long time.
  • And unfortunately, some people may try and get the money directly after having said that they're happy for their vet to be paid directly.

So you're talking to your vets and seeing if there are any companies that they're happy to accept are direct claims from is also something to consider.


Best company pet insurance in Australia 2021 from here.

Pet insurance Australia reviews from here.


Briefly alternatives to insurance.


Insurance is a fantastic way of making sure that you've got the means to pay for your pet’s treatment for whatever their pet’s treatment is like.


I say if you do need to pay everything upfront, then that may not be possible it may still involve credit cards, or other forms of loan just to cover the bill initially before then getting refunded certainly that initial fee.


Another option is to keep savings account for your pet, you know and every month every fortnight whatever it is making a payment into that account, so that should something happen you've got some money in the pot.



The problem with this approach clearly is that if something happens in the first few years of your pets life when there's not very much in the account that's not going to be any help you'll and you're not going to be able to afford to cover that treatment, but you know it there are other ways and then also you can consider credit cards and loans and things like that if you're in a position to be able to get credit and to be able to afford to get credits as well because whenever we're taking on the debt we really need to be aware of how much that's costing us long term and how that's going to affect us long term.


So well that's not a pet-specific problem, it's something we should be thinking about when it comes to planning on how we're going to look after our pets should they become unwell.


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