When it comes to financial products and services, it almost always pays to shop around first. This can range from looking for a newpolicy to finding the to securing . This approach is also applicable to some other, lesser-known financial products, too. is one such service.
Pet insurance can be valuable for a variety of reasons. In exchange forto a provider each month (that's often if paid yearly), owners can secure coverage for , treatments, medications and some procedures. Depending on the provider and policy chosen, owners can get reimbursed for up to 90% of the expenses they normally would have to pay in full out of pocket.
To get to that reimbursement level - and to find a company that fits best for you and your furry friend - it's smart to compare pet insurance companies. Below, we've listed four items you should use as a starting point. By completing an accurate, apples-to-apples comparison, you'll better be able to find the best pet insurance for your pet.
How to compare pet insurance companies
Ready to start shopping for pet insurance? When reviewing companies, make sure to read the fine print. Specifically, you'll want to know all about the following:
Their reimbursement percentage
Pet insurance doesn't work like health insurance for humans does. When you bring your dog or cat to the veterinarian, you'll still need to pay for the services rendered that day. Once back at home, you can file a claim and getfor what you spent.
How much you're reimbursed, however, varies depending on the provider andyou chose, so make sure to ask about this from each pet insurance company you speak to. If a policy with one company charges less but reimburses you for a smaller percentage than another company, you'll know why.
Get a free pet insurance quote here now and see what you're eligible to receive.
Their pre-existing conditions policy
Most pet insurance companies won't cover anyyour pet is suffering from. That doesn't mean they won't offer coverage after those conditions have healed. That said, the definition of a fully healed pre-existing medical condition varies by provider, as do the specific conditions they consider to be pre-existing, to begin with.
If you have a youngor , chances are you won't have to worry about this when you apply. But if you have an or cat, be sure to ask before signing on the dotted line. You don't want to get stuck paying for a policy you can't use.
Their waiting period
It'sto get pet insurance, namely because of the mandatory pet insurance providers enforce. This is the time frame between your application approval and the date your coverage kicks in. You won't be able to utilize your policy during this period.
Accordingly, make sure you know exactly when this period starts and ends. Although pet insurance companies have similar waiting period lengths, they may not be precisely the same.
Their perks and extra coverage options
While most pet insurance companies offer similar services for similar costs, some may have extra perks and offer additional coverages their competitors do not. For example, you could potentially secure coverage forlike treatment for separation anxiety or alternative medicines. Granted, this may be too much coverage for some owners, but other owners may find it worthwhile. Either way, it doesn't hurt to ask.
The bottom line
to protect both your pet and your bank account. With so many attractive pet insurance options currently on the market, it pays to do your due diligence and thoroughly research all of your options.
When comparing pet insurance companies, specifically look at their reimbursement percentages and pre-existing condition policies. Also be sure to know their exact waiting period schedules and any extra perks or coverage options that could separate their company from their competitors.
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