Dog insurance is more affordable than you think, making it well worth it. Before we get into how affordable dog insurance truly is, let’s bring to mind some of the purchases you make during the month more than dog insurance.
- Monthly Cost of Starbucks
- Fast Food Meal for 2
- Meal at a Restaurant for 1
Don’t believe us? What if we told you that you can get dog insurance for $22.15 a month or even $18.80 a month? How affordable is that?
Why Are Some Dog Insurance Companies More Affordable Than Others?
When shopping for dog insurance, you will likely request some quotes and find variable rates. Some will be around $20 and others around $60.
The reason for the discrepancy is due to the dog insurance provider’s coverage. Just like with human health insurance, the more coverage a policy offers, the more the monthly premium costs.
What Factors Influence Dog Insurance Cost?
When coming up with a cost for a dog insurance policy, the provider will ask questions about your pup. These questions influence the cost of the policy and have to do with:
- Pet’s Age – Older dogs have higher premiums because they are more likely to require treatment for age-related illnesses.
- Pet’s Breed – Hereditary conditions are an important factor because some hereditary conditions are costly to treat.
- Pre-Existing Conditions – No dog health insurance provider will cover pre-existing conditions. Knowing which conditions will not be covered can either increase or decrease the cost of the policy.
- Location – Dogs living in rural areas will often have higher premium rates. Dogs living in a suburb or city are usually leashed reducing the risk of accidents.
What Insurance Covers
Dog insurance policies often include accident and illness coverage. This means if your pup is involved in an accident, treatment for the injuries will be covered by insurance. If your pup suffers from an illness, the cost of treating that illness would be covered.
Is Dog Insurance Worth It
As you may imagine, treatment costs for injuries and illnesses can add up to thousands of dollars. Spending $20 or even $30 dollars a month on affordable dog insurance, even for years, is well worth it.
How Does Dog Insurance Work
Dog insurance works a lot like human health insurance. When an accident results in injuries or your pup becomes ill, you submit a claim to the provider. They will ask for veterinarian records to review the treatment provided to your pup, and then send a check to reimburse you for the amount.
This may make you wonder, “Well, does that mean I have to have thousands of dollars in cash available to pay for treatment before I receive the reimbursement?” The answer is not always. Some veterinarians will work with you if they know you have insurance. This means they will wait for payment until the claim has been processed.
What Else You Need to Know About Pet Insurance Companies
Pet parents need to know the ins and outs of pet health insurance before diving into it. While it is a worthwhile investment, it’s best to enroll in a policy with no surprises.
- Even the best pet insurance provider does not cover pre-existing conditions. If there are documented non-curable conditions in veterinarian records, treatment will not be covered.
- There is a waiting period with pet insurance plans. Once you enroll, most waiting periods are 14 days. This prevents people from getting pet health insurance AFTER an injury or illness has occurred.
- Routine care is not covered, but there are wellness plans available for some pet insurance companies.
- Check the reimbursement rates when choosing a pet insurance provider. Some pet insurance providers only cover a certain percentage of vet bills.
- Know the annual deductible. Consider changing the annual deductible to decrease the cost of the pet insurance policy to make it even cheaper.
- Cheap pet insurance is available if you look for it. Request several free quotes before making a decision.
- You can make cheap pet insurance even cheaper with discounts – ask about the multi-pet discounts, military discounts, etc. when discussing the price of a pet insurance policy.
- Cat insurance is less expensive than dog insurance. It can also decrease the cost of your dog insurance plan. Ask what the cost difference is when adding multiple pets.
- Exam fees are not covered by insurance unless there is a wellness plan attached to the dog insurance plan.
- Chronic conditions are not covered by pet insurance plans unless they were cured.
How to Decide to Get Dog Insurance
Pet parents – if you want to really know whether or not you should get dog insurance, consider how many things you spend money on that:
A. You don’t need.
B. Don’t have the potential to save you money in the future.
If you can think of things that cost more money than about $30 in a month that fall into both of those above factors, you should get it.
Dog insurance isn’t something you are required to get, but you could need it in the future if your precious pup ends up sick or injured. It has the potential to save you A LOT of money and heartache. You should never have to decide between emergency care and money.
Pet owners – think long and hard about this decision. You may not need it, but if you ever do, you will be SO glad you decided to invest in it.
Remember: The sooner you lock in a policy the better because your pet’s age matters, chronic conditions could surface at any time, and vet bills won’t be paid by insurance after a diagnosis has been made.
If you were hoping for exam fees to be covered with insurance, sign up with a pet insurance company that offers a wellness plan to help with those costs, such as Embrace Pet Insurance.
Have multiple pets? Ask about a multi-pet discount. That multi-pet discount can save you a lot over the years – as much as you would have to pay for veterinary care out-of-pocket in most cases.
