How to Find Cheap Pet Insurance

How to Find Cheap Pet Insurance

Purchasing insurance for your pet can be a smart financial plan. Veterinary bills can run into the thousands of dollars for some injuries and illnesses. Without pet insurance, the cost of treating your pet in an emergency may be out of reach. Pet insurance does not have to be expensive. Some comparison shopping between plans and companies can help you to find a plan that is right for you and your pet. To begin the process, identify some plans that are available in your area. Your veterinarian or other pet owners can be a good source of information.

Once you have the names of some possible companies, use their websites or customer service numbers to find some information about the plan. Each plan will most likely have three factors that determine the overall cost of the plan. The premium is the amount that you will pay each month or year to maintain coverage for your pet. There may also be a deductible, which is an amount that you will pay out of pocket before the insurance begins to cover a portion of the cost. The deductible may be per incident or per year. Once the deductible is met, most plans will also have a co-pay or percentage of the cost that you are responsible for. In addition to knowing these numbers, you should also consider the services that are covered. Some situations that may be covered injuries, illnesses, routine healthcare, dental care, or medications.

In most cases, you will pay a higher premium for a plan that covers more or has a lower deductible or copay. If you are able to cover most expenses but want to be protected against unexpected large expenses, you may prefer to choose a plan with a lower premium. This can be done by looking for a plan with more limited coverage, such as a plan which does not cover medications or only covers injuries. For example, you may choose to pay out of pocket for routine veterinary care in place of paying for a more expensive plan that covers routine care. You may also lower your premium costs by looking for a plan with a high deductible. A low premium, high deductible plan will save money for most owners, but may increase out of pocket costs when claims are made. Comparing all the plans will allow you to make a decision about what coverage is best for both your pet and your bank account.