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How do Pet Insurance policies work?

Typically, you can take your pet to any licensed veterinarian or specialist.

When your pet is seen by the veterinarian, you are responsible for paying the entire amount due. The veterinarian office may have claim forms, or you can bring one in which will be filled out by them. Then, you send the claim form to the pet insurance provider for reimbursement.

The amount you are reimbursed depends on the details of the coverage as described in the policy. 

For example, some pet insurance plans are ‘cost sharing’, that is they have a deductible which may be a stated dollar amount, or a percentage (such as 20%) that you must pay out of pocket before the pet insurance company pays. 

Some pet insurance companies pay claims up to a maximum limit you choose. (ranging between $2500-$7000 per incident) 

Other plans may pay reimbursement of expenses based on set benefit schedules found in the pet insurance policy. Make sure you compare coverage from different companies to select the one that best suits your needs.

How do I choose the right Pet Insurance plan?

Choosing the right pet insurance plan can be confusing unless you take a step by step approach. 

You need to understand what the plan covers, exclusions, restrictions, deductibles, co-payments, costs, and general facts about pet insurance plans. Remember to always do your research before you decide on a plan. 

Pet insurance companies should be registered with your states insurance department. When comparing plans with similar benefits, if one company is offering a plan that has a substantially lower cost than others, you may want to remember, ‘if it sounds too good to be true, it probably is’. Remember, these are contracts, and they say what they mean in legal language. 

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