For most puppy parents, a dog is a member of the family. We would do anything it takes to ensure the health and well-being of our four-legged family members. Like with children, accidents and illnesses unfortunately do happen to our furry friends and the expenses can be costly. One option for peace of mind is to enroll your puppy in pet insurance. In today’s blog we breakdown the benefits of pet insurance and why we recommend it.
What the Heck Is it?
Pet insurance is a lot like human health insurance. These programs are in place to help you cover the cost of medical care should your dog get hurt or become sick. Like with human healthcare, pet insurance polices have deductibles and copays. Each policy will be different depending on the provider.
The majority of policies will have a flat monthly premium or a once a year premium that you will need to pay to guarantee coverage. In turn, if your puppy has to be hospitalized or requires emergency care, your policy will pay out a lump sum to assist with the costs of this care. One difference in pet health care and human health care is that you are required to pay the bill upfront. Once you have submitted documentation to your insurance company, they will reimburse you according to your policy.
The Fine Print
Almost all pet insurance companies have a set waiting period for your policy to come into effect. The insurer will also most likely require that your puppy receive a check-up prior to the coverage going into effect. This is so that your insurance company can determine if your dog has any pre-existing conditions they may not wish to cover.
Many insurance companies also have exclusions in their coverage, so be sure to read the fine print! Common exclusions are:
- Dental diseases
- Hereditary conditions
- Routine care
- Hip dysplasia
Thankfully, your puppy adopted from Archview comes with a two year health guarantee against life-threatening genetic defects.
Another thing unique to pet insurance is that, unlike human healthcare, you can select any vet of your choosing. There is no such thing as in- or out-of-network doctors with pet insurance policies.
Important Questions to Ask
Personally, we use Trupanion for our pet insurance needs, but we encourage you to do your research and select the company that is the best fit for your family. One of our adopters did some extensive research on pet insurance and stumbled across this article which compares multiple companies.
Different companies may offer a wide variety of policy options. The more extensive your coverage is, the higher your premium will be. Some companies also take other things into account when determining your premium such as your dogs breed, age and location.
Archview tip: One thing to ask before committing to a particular company is if they require rate increases as your pet ages.
A few questions we suggest you ask when gathering quotes include:
- Can you control your deductible?
- How quickly will you receive your reimbursements?
- Does my policy cover the actual vet visit or just the treatment or procedures?
- Are well-pet visits and routine check-ups covered?
- Are there any lifetime limits or set limits per year?
As with any type of insurance, there will be pluses and minuses to take into consideration. We recommend reaching out to several companies for quotes and coverage information. Take your time and carefully review your options before committing to a policy. And if pet insurance is not for you, be sure to set back money into a savings account that you can tap into in the case of an emergency.
Leave a Reply