Pet insurance enables you to secure healthcare coverage for your cat, dog, or other furry friend, making the expense of veterinary care more manageable in various situations. Although there is evident value in having a pet insurance policy, the process of choosing a plan is not always straightforward.

Each insurer and policy comes with its own set of benefits and drawbacks. Consequently, you must navigate the process of comparing plans to select the most suitable option for your pet. If you’re unsure where to begin, here’s what you should consider.

Comparing pet insurance policies is often more challenging than anticipated by most pet owners. This is generally due to the absence of a required standard for coverage, allowing each insurer to determine its own inclusions, exclusions, and limits.

When scrutinizing pet insurance plans, it is advisable to compare specific areas to evaluate their merits.

Here are some aspects to explore:

Veterinarian network
Coverage type (accident-only, accident and illness, and/or wellness)
Covered conditions
Excluded conditions
Coverage maximums
Inclusions and limitations for pre-existing conditions
Add-on options
Premium costs
Deductible options
Claims process
Reimbursement percentage
Available discounts
Waiting periods
Company reputation

Typically, information about these areas is available on each insurer’s website. In most cases, you may need to request a free quote to obtain cost details. If you encounter difficulty finding any of this information, consider reaching out to customer service for the necessary answers.

What Are the Costs?

Similar to almost any other type of insurance, the costs of pet insurance plans vary. Each insurer establishes its own rates, and factors such as your location and specific details about your pet, including age and breed, also influence the cost.

According to data from the North American Pet Health Insurance Association (NAPHIA), the average annual premiums in 2021 for dogs were $239.11 for accident-only and $583.91 for accident and illness. For cats, the average monthly prices were $130.24 and $342.84, respectively.

If you opt for wellness coverage in your plan, the monthly premium increases. The exact amount can vary, so keep that in mind as you explore your options.

Regarding deductibles, which represent the amount you need to pay out of pocket before coverage begins, the figures also vary. While some policies may have $0 deductibles, $100 is more common on the low end. On the high end, deductibles may reach $1,000.

Finding the Right Provider

When selecting pet insurance for your animal companion, concentrate on policies that align with your needs and have reasonable prices. Begin by determining the type of coverage you seek and then compare what is available in the market.

However, pay attention to details such as whether there is a mobile app or if the insurer supports direct payments to vets. The company’s customer service reputation also holds significance. Ultimately, you must strike a balance between the cost of coverage and the overall value received to identify the insurer that genuinely fits your requirements.