What Pet Insurance Should You Pick?

Checkbook. org researched usefulness of having your pet insured. They concluded that pet insurances only increase the cost of pet care. Only if your furry friend has major expensive health issues, it is worth to get him/her insured. However, the risk of being exposed to these types of issues, is about three percent per pet per year.

In general, dogs’ insurances are more expensive than those for cats. The premiums are also higher for pure breeds than for mixed breeds. In addition, many insurances increase the premium as the pet ages. However, this doesn’t stop insurances from restricting the pet’s coverage or even bouncing an older pet or one with a chronic disease. On top of the higher premiums there is often a high Out of Pocket as well.

In their article, Checkbook.org provided some general advice in picking an insurance for your furry companion:

• The best time to insure your pet is when he/she is 6-8 weeks old. That way, insurance can’t reject the claim based on previous existing conditions
• Research the pet insurance and make sure you fully understand what they cover and what not. This will prevent having claims rejected
• Avoid add-ons, such as wellness, preventive and elective as they will only increase the premium
• Consider accident only coverage; those are often cheaper than the ones that also cover illness
• Request a higher deductible in order to lower the premium

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Bibliography

Don't Get Bitten by Pet Insurance. (2018). Washington Consumers' Checkbook Update, 19(2), pp. 6-8. Retrieved December 7, 2018, from https://www.checkbook.org/washington-area/pet-insurance