Lesser-Known Benefits of Pet Insurance

Wednesday, September 25, 2019, 6:00 AM | Leave Comment

Pets are becoming big business around the globe. People are increasing their budget for pet care and also the pet care industry is seeing a boom.

Although a major part of your pet budget goes into food and other supplies, a considerable amount also goes to veterinary bills. This is where pet insurance plans come to your rescue.

Like human insurance plans, vet insurance plans also offer a variety of deals. You have bewildering options in monthly or yearly premiums, deductibles, and fine-print details.

The insurance plans are becoming increasingly popular with the advancement in treatments and vet specialties.

Many online portals like iSelect provide details of different insurance plans in an easily comparable form for your assistance.

Research is inevitable as the companies play to ensure their benefit. Some companies do not cover veterinary visits even for the covered illness. Others may induce deductibles per condition.

Before going to shop for a pet insurance plan you should understand a few things which are not very obvious.

  • Lesser or no worries of going out-of-network

    Unlike human insurance most plans to not restrict the owner to consult veterinarians only within a given network. You can take your pet to any licensed vet without worrying about the insurance provider’s network. Despite this is true for most of the providers, it is a good practice to ask for restricted coverage before buying a plan.

  • Older pets also get coverage

    Many pet owners get delayed in taking insurance due to unawareness or any other reason. These owners often believe that they would not get insurance coverage for their animals due to older age. However, this is not true all the time. You need to check various providers and plans as the age limit vary. You would have to pay more and will get less for the older pets but the plans are available.

  • Coverage for accidents, even if it is your fault

    The details and exclusions of accident cover cases vary between different policies. But most of the insurance plans include the medical cost incurred in accidents even if the owner is at fault. For instance, if your dog ate your chocolate cake by mistake, it is due to your carelessness but is covered in most policies.

  • Cover for exotic animals is available

    The most common perception about insurance covers goes to dogs and cats. However come companies provide covers for exotic birds, reptiles and other animals. The plans for cats and dogs are generally based on their age and breed. On the contrary, you can get a customized quotation for your exotic pet.

  • Your boss may render help in paying for the plan

    Pet insurance is one of the most rapidly growing employee benefits in almost all sectors. Many employers are offering to pay for or share the cost of pet insurance plans. One of the reasons is that pet insurance benefits do not cost anything to the companies. However, do proper research before enrolling in a plan.

  • Discounts are often on the table

    There is a dramatic variation in the cost of pet insurance policies. One of the reasons is the variety of discounts the companies offer. With thorough research, you can find a plan with a larger discount offering the same benefits.

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