Pet
Insurance – Important Points to Check before Purchasing a Plan
There are numerous pet
insurance companies and each one offer different styles of plans.
Because each varies it is important to understand what they are
offering and how much out-of-pocket money you will be spending besides the
monthly premium. Below are a
few points for you to check out before you decide on the best plan for you
and your pet.
1. What does the policy cover?
Because you visit the veterinarian for several different reasons -
illness, accidents and routine care – you need to know exactly what the
policy covers. Also ask if you
have a choice of coverage. Perhaps
you only want the policy to cover accidents and illnesses and you will pay
for routine visits yourself. Make
sure it is spelled out exactly what you are paying for so there are no
surprises later on.
2. What excess is best for you?
The higher the excess the lower the monthly premium.
Likewise the lower the excess the lower your monthly premium.
What you choose depends upon how much out-of-pocket cost you want
to spend at the time of each visit. You
will also want to ask if you can change your deductible rate at any time
without penalties.
3. Are there any limits or caps?
Some policies will only pay a certain portion for a particular
disease or accident. For
example, if your dog has cancer and his treatment costs £6,000 and your
policy has a cap of £5,000 for that particular disease then you have to
pay the rest on your own. The
best plans on are ones that cover true costs and sets no limits on the
cost of treatment.
4. What does the plan exclude?
Some companies don’t tell you what the plans won’t cover or it
may be in the small print at the bottom of the page.
Be persistent and ask what specifically is and isn’t covered by
the plan. Then there will be
no surprises later on.
5. Who chooses the veterinarian – you or your plan?
Many times you have to choose a veterinarian who is part of a
network and you are not allowed to choose the one you want.
Make sure that you are allowed to visit any veterinarian that you
wish and that includes after hours for emergencies and specialists that
you may need to take your animal to. Another
way to ensure you can use your current veterinarian is to check with him
for an insurance plan he recommends.
6. Who has the last say on treatment?
Sometimes insurance companies control what treatments they will pay
for with specific diseases whether or not it is the best treatment for
your animal. Choose a plan
that lets your veterinarian and you choose the appropriate treatment for
your pet.
7. Does the plan include prescription coverage?
Veterinarian science has become more advanced over the past few
years and there are more medications available to treat different
illnesses and diseases. You
could spend a lot of your own money if prescriptions are not covered.
Check if they are covered and what the excess is per prescription.
8.
Are
there any worthwhile extras included in the policy? It is now becoming
more common for insurers to offer services that include covering the cost
of boarding for the pet, should the owner fall ill or paying out a fee
that covers the cost of posters and printing in the event that the pet
goes missing. Asda Pet Insurance for
example has teamed up with the Missing Pets
Bureau to help policy holders locate their pet should it go
missing. By asking the right questions you will be sure to attain the pet
insurance policy that is right for you and not have to face surprises in
the future.
For
less specific insurance, in perhaps less of a niche market, you can also
try providers like Legal and General for buildings
and contents insurance.
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