Video:Before You Buy Pet Insurance

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Transcript:Before You Buy Pet Insurance

There are a number of factors to consider before you buy pet health insurance for your cat.

Questions to Ask Before You Buy Pet Insurance

Here are some details to question about any pet health insurance plan before you buy it:

Does the Company Use a Network or Provider List?

If you are determined to stay with your own veterinarian, check with your veterinarian before buying. Fortunately many pet health insurance plans allow you to use any veterinarian you choose.

What Are the Exclusions?

All pet health insurance policies have exclusions. On of the most common is the "pre-existing condition" exclusion, which can be defined loosely as "injuries, medical conditions and symptoms of concern that were evident prior to enrollment."Other exclusions may include neutering/spaying, hip-dysplasia, vaccinations, flea control, heartworm medication, dental care, or limitations for certain illnesses of cats not neutered prior to first birthday.

What Are the Deductibles and the Co-pay?

Some companies will charge a flat deductible of $50 to $100, depending on the age of the pet, for each procedure. In addition almost all policies will require a co-pay of 10% to 20% of the veterinarian's fee.

What Are the "Incident," Annual, or Lifetime Caps?

Many companies provide a cap (or maximum) amount for each covered illness or procedure. (This is the incident cap). Some companies also utilize an annual cap, over which no further coverage is provided for that calendar year. Still another cap used by pet health insurance companies is a lifetime cap.

Does the Company Apply a "Schedule" After Deductible or Pay a Flat Percentage? Is it a "one size fits all" policy?

Fortunately some companies offer a variety of plans, depending on the needs of your cat. You might be able to save premium costs through picking and choosing the plan that is right for your cat.

What Are any Other Benefits and Savings?

Some pet health insurance companies are very creative with additional benefits. Some may offer coverage for 3rd party property damage liability, holiday cancellation, boarding fees, and advertising for missing pets or some may give a 5% to 15% discount for multiple pets enrolled.

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