Welcome to Pet Insurance Tips

Make sure your pet insurance company is governed by the Department of Insurance

In the early 1980s, when pet insurance first became available, there were few plans to choose from. Now, pet lovers have many more options and it seems more plans are available every day. That is why it is essential that you make a careful decision when purchasing pet insurance.
Insurance is regulated at the state level. That means if you have a complaint or concern about an pet insurance company, the Department of Insurance in the state where you live is likely to help investigate it. When you buy pet insurance it's a good idea to ask if that company is licensed by the DOI in the state where you reside. Also, you can ask how many states the insurance company is licensed in. Answers to these questions will offer you some insight into whether the insurance carrier is reputable.

Pet insurance companies should be backed by solid underwriters

Insurance companies must be backed by an underwriter. The company that serves as an underwriter is responsible if the company needs support paying claims and the like. Underwriters carefully consider an insurance company before they back it. They are hoping that claims filed against the company will not exceed the premiums paid. For this reason, underwriters must be reputable and have a strong history in making good decisions.

When buying pet insurance, you should research what company underwrites the insurance. If that company does not have a good rating, it may be a sign that the coverage will not be worthwhile. You can find out about underwriter ratings online or by calling your state Department of Insurance.
You should also consider how long your pet insurer has been in business. This doesn't mean that newer companies can't be trusted. But, in general, if a company has a long and successful history, it might be a better choice.

Ask these four key questions to confirm your pet insurance company is 'really' there for you

1. Has the pet insurance company made it easy for you to file claims?
This is key. Some companies have a 24 hour helpline to process claims. Find out whether the pet insurance company you plan to get your pet insured with has such friendly systems in place. Don't forget to take a careful look at the pet insurance company's claim filing form. If the claim filing form has any terminology that you do not understand, get it clarified at once from the pet insurance company's customer care division.

2. Is the pet insurance company's online payment systems secure?
Great to know that the pet insurance company you've chosen accepts online payments. But, did you see the VeriSign mark? The VeriSign mark is a sign that indicates the pet insurance company has taken care to make sure that online payments are more secure.

3. How long does the pet insurance company take to process claims?
Is it done within a fortnight or does the pet insurance company process claims within six months? Choose a pet insurance company that will process claims fast. Remember, a pet insurance company that processes claims fast is reliable, efficient and truly cares for your pets.

4. Will the pet insurance company cover a pre-existing condition?
A condition that your pet is already suffering from before you register for the insurance policy, is called a pre-existing condition. Though, most pet insurance companies will not offer an insurance cover for a pre-existing condition, there are some that do. In case your pet is already suffering from an illness you must necessarily choose a pet insurance plan that covers pre-existing conditions.

Choosing a Pet Insurance Plan? The more the benefits, the better it is

When you choose a pet insurance plan for your pet dogs, you must read the benefits carefully to make sure that the most important conditions are not left out.
Illness benefits should include coverage for all the twelve different systems like:
1.Cardiovascular & respiratory system
2.Digestive system
3.Urogenital system
4.Musculoskeletal system
5.Nervous system
6.Eyes
7.Ears
8.Skin
9.Endocrine system
10. Blood & lymphoid system
11.Infectious diseases
12. Cancer

Other conditions which you check to see if they are included would be emergency care and accident benefits, vaccination and deworming, spay and neuter charges, and routine tests like
1.Ultrasounds
2.X-rays
3.CAT scans
4.MRIs
5.Lab tests for blood, urine and stools
6.Surgery
7.Hospitalization
8.Prescription medication
9.Chemotherapy
10. Complementary medicine treatment

Don't forget to make sure that your pet's pet insurance plan offers travel insurance, pet boarding kennel fees, pet prescription diets and holiday cancellation expenses. Do check out the discounts too!

Get familiar with these five terms that you will find in all pet insurance plans

Being fluent in pet insurance terminology is important because that way there can be no confusion between what you think a terminology means and what it really means. Listed below are five commonly used terms that you might want to be familiar with.

1.Premium : This is the amount of money that you need to pay to buy a pet insurance policy. Most pet insurance companies give you the option of monthly payments and annual payments.
2.Exclusions: These are the list of conditions not covered under your pet insurance policy. You must read this list very carefully because once you have accepted the policy and if your pet has a condition that comes within the list of exclusions, then there's no chance that you can ever recover a claim from your pet insurance company for that condition.
3.Claim: This is the amount that you have spent on a specific condition for which you fill in your pet insurance company's claim form in order to get it reimbursed.
4.Excess: This is the part of every claim that you send in which you have to pay. Generally pet insurance companies pay somewhere between 75% and up to 90% of expenses that you incur. Some pet insurance companies even pay 100% of a claim. In such cases, the excess works out to zero.
5.Maximum benefit: This is the maximum amount that you are allowed to apply a claim for. The maximum benefit will vary for different conditions and different surgical procedures and examinations. These will be specified by your pet insurance company. Read the terms and conditions carefully before filling the form and sending it to your
pet insurance company.

What does pet insurance cost?

Pet insurance costs will vary from company to company, and plan to plan. The plan specifics you choose, such as a deductible and co-insurance amount, will affect your overall cost. Generally, cats are less costly than dogs and insuring exotic pets might cost more.
However, you can expect to pay about $250-400 per year on pet insurance. Pet insurance than covers only accidents may be as low as $60 per year.
Many plans allow you to make a monthly payment. If you are considering pet insurance, you should budget about $25-30 per month per animal.

Pet insurance works differently than regular health care

You should be aware when buying pet insurance that filing a claim is different that your traditional health plan. When you are sick or go to the hospital, most often your health provider files a claim with your insurance company. If the claim is accepted, your health provider receives payment directly from your insurance carrier.
Pet insurance works differently. When you visit your vet, you will be expected to pay the bill in full even if the service is covered on your pet insurance plan. Then, you'll be required to file a claim form with your provider. You may have to obtain a signature from an authorized vet or vet associate. Then, reimbursement will be sent directly to you, not your provider. You should take this into consideration so you can be prepared to more fully utilize your pet insurance plan.

Some Pet Insurance Facts

Only one percent of Americans currently insure their pets, but pet insurance has been popular in Europe for many decades. Here are some more quick and interesting pet insurance facts:
• Pet health insurance has been available in the United States since the early 1980s.
• Some companies offer protection worldwide, in case you travel with your pet.
• Accident coverage begins the same day you sign up for most plans.
• Some breed specific issues are not covered by many plans.
• You can choose to cover your pet only for accidents, or for accidents and illness.
• Pet health insurance is far less expensive than using veterinarian loan plans that many vets now offer.

The Benefit of Choosing Your Own Veterinarian

One of the most important pet insurance benefits is the ability to choose your own veterinarian. Almost all plans reimburse you for out-of-pocket expenses within days, so you can pay your vet quickly and easily, or pay up front and then the insurance company reimburses you directly. Most plans do not require you to visit "member plan" vets, so you can visit any doctor or animal hospital in your area. If you already have an established relationship with a vet, you won't have to begin with another doctor. Your pet won't have to go through the trauma of visiting a new office, either. Since your relationship with your specific veterinarian is paramount to your animal's health and well being, keeping your current vet is a huge benefit to most pet owners.

Pet Insurance is Expensive

Many people feel pet insurance is too expensive, but the facts simply don't back up their beliefs. Many companies offer multi-pet discounts, discounts for annual payments, and low rates of less than $1 per day for many plans. While the cost may initially seem expensive, it is actually extremely reasonable, especially when compared with our own health care costs. Many people spend hundreds of dollars per month in health care premiums through their employer or insurer, and pet health insurance is far cheaper than that, even for multiple pets. In fact, some people might see pet insurance as a real bargain. Since all pets require care and maintenance just like we do, insuring your pet is really not that expensive at all, and that's a fact.

Lifestyles of the Rich and Pampered

Your pet insurance policy may be cheaper if your pet lives in a safe environment. For example, if you have an indoor dog or cat, your pet is less susceptible to car accidents, attacks from other animals, easily spread diseases, or getting lost. Many pet insurance policies reward pet owners like this with better rates. If your pet lives in an enclosed yard that is "pet-proofed" as much as possible, you may receive better rates, too. Be sure to ask questions when you sign up for your policy, including what discounts the company offers. You may be surprised to learn that pampering your favorite pet may just pay off in lower premiums and a happier lifestyle.

When Does a Pet Insurance Policy Not Make Sense?

Some pets simply will not qualify for a pet insurance policy, or the cost will be extremely prohibitive. Most companies do not cover pets with birth defects or pre-existing conditions. Many also do not cover regular exams, check-ups, vaccinations, and spaying or neutering. Some do not cover the costs of breed specific "beautification," such as tail docking, or the costs of breeding.

If your pet has a pre-existing medical condition, or your pet is extremely old, the cost of an insurance policy that will cover these conditions may be prohibitive, or may not be available for all. A pet insurance policy does not answer the pet health questions and challenges of all pets, but it can be the right medical answer for most pets.

Pet Insurance Incentives at Work

Many employers are finally recognizing what most pet owners have known for years. Pets enhance our lives, make us generally happier and healthier, and that transfers to most areas of our lives including the workplace.

A happier workforce is more productive and successful, and that's why many organizations are beginning to offer pet insurance incentives to their employees. Many pet health insurance companies offer business group rates for their pet health plans, so the employees enjoy savings on their pet insurance needs. Many companies also offer the convenience of payroll deductions for pet insurance premiums. Check with your employer to see if they offer this incentive for pet owners, or suggest it to your company as an additional employee benefit.

Insuring the Older Pet

Pet insurance gets more expensive as the animal ages, so it makes sense to sign your pet up as early as possible, rather than waiting until premiums are higher. Also, if you insure an older pet, the insurance company will probably request pet health information, or require a physical examination by your veterinarian to discover any pre-existing conditions. Just like humans, animals suffer from more diseases and health issues as they age, so purchasing pet insurance makes sense and gives a greater sense of caring for your pet.

Additional Benefits from Pet Insurance

The health care and accident benefits from pet care insurance policies are quite attractive, but some companies offer additional benefits to policy holders to make their policies even more appealing. For example, they may offer free pet tags and lost pet recovery as an additional benefit for insured pets. That way, if a pet gets lost, there's a toll-free telephone number and identifying I.D. number on the pet's tag to help locate the pet's owner.

Some companies offer online discussion groups, blogs, and veterinary questions as additional benefits, too. As more consumers discover the benefits of pet insurance, it seems more additional benefits will be offered to pet owners who insure their pets.

Pet Insurance for Exotic Pets

Most people think pet insurance is just for dogs and cats, but that's just not so. Many companies also offer exotic pet and bird insurance plans. Not all companies offer this benefit, so it pays to ask questions before you enroll your pets.

Since some exotic pets suffer specific illnesses and health problems, you should also question what is and is not covered as you research benefits and coverage plans. Many companies also offer discounts for multiple pets, even if they include exotic pets combined with dogs and/or cats. So, if you have a pet question about insuring your exotic pet for maximum health coverage and benefits, ask your pet insurance provider if they offer exotic pet insurance benefits.

What does pet insurance cost?

Pet insurance costs will vary from company to company, and plan to plan. The plan specifics you choose, such as a deductible and co-insurance amount, will affect your overall cost. Generally, cats are less costly than dogs and insuring exotic pets might cost more.
However, you can expect to pay about $250-400 per year on pet insurance. Pet insurance than covers only accidents may be as low as $60 per year.
Many plans allow you to make a monthly payment. If you are considering pet insurance, you should budget about $25-30 per month per animal.