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Why you shouldn't wait to get pet insurance

little cat and iguana
Pet insurance can be valuable at various times of purchase. But there's a substantial argument to act now. Getty Images

Pet insurance is not often top of mind when Americans think of traditional insurance types. In fact, the benefits of having a pet insurance policy may not even be well known by many pet owners. But the advantages of having a pet insurance plan are multiple and significant, particularly for those who have recently purchased or adopted young puppies or kittens.

Like most other insurance types, however, there are better times to purchase a policy than others. When it comes to pet insurance, that's now - or as soon as possible. The decision to secure a policy sooner than later is supported by multiple considerations.

If you're in the market for pet insurance you can start by getting a free price quote online right now

Why you shouldn't wait to get pet insurance

Pet insurance can be valuable at various times of purchase. But there's a substantial argument to act now. Here are three reasons why you shouldn't wait any longer.

Costs will rise

Pet insurance, just like life insurance for adults, won't get cheaper if you wait longer. In fact, it will become more expensive as your pet becomes more likely to get sick and thus riskier to insure. That additional cost will be reflected in your premium each month.

The longer you wait and the older your pet becomes the more you will pay. You also run the risk of being turned down for insurance altogether.

But if you act now, while your pet is still relatively young and healthy, you'll expand your coverage possibilities and you won't break the bank in the process.

Fill out some basic details about your pet now to get a free price quote online.

Coverage will be limited

Not only will you risk paying more if you delay getting pet insurance, but you'll also put the coverage type your pet qualifies for in jeopardy. Don't forget: pet insurance providers can discriminate against dogs or cats with pre-existing conditions, thus limiting the protection your policy could provide. 

"A pre-existing condition is anything that happens before you enroll or during the waiting period," Fetch by The Dodo explains. "Like other providers, we don't cover pre-existing conditions."

Spot pet insurance also does not cover these types of medical issues.

"A pre-existing condition is any injury or illness which occurs or shows symptoms before coverage starts or during a waiting period," they explain on their website. "A condition is considered pre-existing whether or not it's been officially diagnosed or treated; all that matters is when it occurred or symptoms first displayed."

That's why it makes sense to act now before your pet's health deteriorates. Don't delay getting a plan. That wait could significantly hamper the protection a policy provides (if it doesn't disqualify your pet completely). Learn how to get protected now.

Waiting periods will need to be completed

While applying for pet insurance is simple, you won't get protected right away. Instead, you'll have to complete a waiting period before your coverage kicks in.

"The 15-day waiting period, which begins the day after you enroll, is a set period of time before your coverage kicks in and you can be paid back for claims," Fetch by The Dodo explains

This is a key consideration when trying to time a pet insurance policy. Simply put: a pet insurance plan won't protect your animal right away so don't wait until the last minute. 

"We cover injuries and illnesses that occur after the waiting period is over," Fetch by The Dodo notes. "Any claims you submit during the waiting period will not be covered. Any injury or illness that occurs during the waiting period will be considered a pre-existing condition, which means it won't be eligible for coverage."

The bottom line

Pet insurance has many advantages both for pets and their owners. But to fully partake in these benefits it pays to get a plan now, while costs are minimal, coverage is extensive and a waiting period can more easily be completed.

Start by getting a free pet insurance price quote online right now!

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