Pet insurance: 3 surprising things to know – CBS NewsPet insurance: 3 surprising things to know – CBS News

Family taking their dog to the Vet
Pet insurance is a smart, cost-effective way of protecting your animal. To get the most value, however , there are some surprising things to know now. Getty Images

Pet insurance provides financial security for you and medical support for your cat or dog. For the minimal cost each month a person can rest assured knowing that you’re protected in the event of an emergency.

While the benefits of pet insurance are significant (particularly for new owners ), it doesn’t work exactly like other types of insurance coverage . While most Americans are usually familiar with the inner workings associated with their car , life and travel insurance policy , pet insurance is a whole different animal.  

That’s not to say that pet insurance isn’t a smart, cost-effective way of protecting your own animal. It is. To get the majority of value, nevertheless , there are some surprising things to know now.

If you think you would benefit from having your dog or cat insured, then start today by getting a free quote .

a few surprising points to know about pet insurance plan

Here are three amazing things in order to understand about this unique form of insurance.

Pre-existing conditions are not covered

Dog insurance, unlike health insurance with regard to humans, discriminates against pets with pre-existing conditions. Providers can reject coverage regarding pets who have these issues in advance of the particular policy starting. You may still be able to get some protection but the major issues that existed before signing up won’t be protected.  

This is why it’s so important to start early. Whether your pet is new to the family or a few years old it makes the best financial sense to sign up when rates are usually low and coverage is potentially more expansive. And if nagging health issues arise in the future your pet will already be grandfathered within.  

Review your options today simply by reaching out to a pet insurance professional or use the table below to find a policy that works for your needs.

You’ll have to pay out associated with pocket (temporarily)

When humans go to their doctor they can expect to pay a co-pay but not much more (bills for the overall visit may be mailed in the future).  

That’s not how it functions with pet insurance. Whenever going to the vet, you’ll be responsible for any services your dog received at the time of the check out. So you’ll have to tap into savings or charge your own credit card that will day.  

Your pet insurance provider, however , will reimburse you for any money spent (depending on your policy). You’ll just need to file the claim plus submit it. From there, your insurance coverage provider will process this and send you the funds you invested back.

In short: You won’t pay intended for many visits, but you will certainly have to pay the particular day of so plan accordingly.

Cats are cheaper than dogs

When it comes in order to pet insurance policy costs, the battle between cats and dogs has a clear winner.  

Cats, which typically require less care compared to dogs, are usually cheaper to insure. And if they do need to go to the veterinarian, the service they need is often much less expensive than it would be to get dogs.  

“Despite the fact that dogs live fewer years on average, you could still easily spend $1, 500 more over its lifetime to insure a dog rather than a cat, ” Money. com noted in an analysis of dog insurance costs.

More expensive, however, is relative as the price tag in order to insure either animal will be reasonable. Dog insurance expenses vary but you’ll generally pay among $30 to $70 per month for a dog plus $15 in order to $40 per month for the cat.

The bottom line

Pet insurance plan offers distinctive financial advantages to proprietors but it doesn’t work like other insurance types. Keep these factors in mind as you build out a smart coverage plan pertaining to your pet.

Speak to the pet insurance coverage expert today who may help you find started along with a cost-effective and reliable policy .

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