Planning to get insurance for your dog? Keep 7 things in mind

Owning a dog can be one of the most rewarding experiences in life. Dogs provide companionship, love, and unconditional loyalty, and they are always happy to see us no matter how long we’ve been gone. They also offer protection and help us stay healthy through their exercise needs. But owning a dog also comes with responsibilities, including providing food, water, shelter, and veterinary care. 

One of the most important ways to protect your pet is by getting insurance for your dog. Pet insurance can help cover some or all of the costs associated with unexpected medical problems your dog may experience during their lifetime. 

Before you buy insurance for your dog, consider seven things.

What does insurance for your dog cover?

Pet insurance policies vary, so it’s essential to understand your policy. Some policies cover only accidents and illnesses, while others also cover routine care, such as vaccinations and teeth cleanings. Some policies offer coverage for alternative therapies, such as acupuncture or chiropractic care. 

It’s also important to know what your policy doesn’t cover. Most pet insurance policies exclude pre-existing conditions, so those costs won’t be covered if your dog is already sick or injured when you get the policy. 

Policies also typically have waiting periods for certain conditions, so there may be a delay in coverage for things like cruciate ligament tears or hip dysplasia. Make sure you understand the limitations of your policy before you buy it.

How much does insurance cost?

Insurance for your dog costs depends on several factors, including the type of policy you choose, the coverage you need, and the deductible you are willing to pay. 

Policies that cover more conditions typically cost more than those that only cover accidents and illnesses. And policies with higher deductibles usually cost more than those with lower deductibles. 

The best way to determine how much it will cost you is to get quotes from different companies and compare the rates. Many pet insurance websites offer a calculator to help you get an estimate of what your premium might be. Make sure to fill in the answers to get the most accurate quote.

What is the reimbursement schedule?

When you make a claim, most pet insurance companies will reimburse you based on a schedule of benefits. This means they will pay a certain percentage of the veterinary bill, up to a maximum amount. 

For example, if your policy has a 70% reimbursement schedule and you have a $1,000 veterinary bill, the insurance company will reimburse you $700. If your policy has a maximum benefit of $500, you would be responsible for the remaining $500. 

Before you buy a policy, ensure you understand the reimbursement schedule so you know how much you would have to pay out-of-pocket in a medical emergency.

What is the claims process?

The claims process for pet insurance can vary from company to company, so it’s essential to understand how your chosen company handles claims. 

Some companies require you to pay the veterinary bill upfront and submit a claim form and receipts. The company will then reimburse you based on the terms of your policy. 

Other companies will allow you to submit a claim form before you pay the veterinary bill. The company will then send a check directly to the veterinary office. 

Before you buy a policy, ensure you understand the claims process, so you know what to expect if you ever need to use the policy.

Is there a waiting period?

Most pet insurance policies have a waiting period, which is the amount of time that must pass before the policy goes into effect. The waiting period is usually 14 days for accidents and 30 days for illnesses. 

This means that the policy will not cover the costs if your dog becomes sick or injured during the waiting period. 

Some policies have a shorter waiting period for accidents, while others may have a more extended waiting period for illnesses. Also, some policies may have a waiting period for certain conditions, such as cruciate ligament tears or hip dysplasia. 

Make sure you understand the waiting period for your chosen policy before you buy it.

What is the enrollment age limit?

Most pet insurance companies have an enrollment age limit, which is the maximum age at which you can enroll your pet in a policy. The enrollment age limit is usually between 8 and 14 years old for dogs and between 2 and 10 years old for cats.

This means that if your dog or cat is older than the enrollment age limit, you will not be able to get a policy. 

Some companies may offer coverage for pets older than the enrollment age limit, but the coverage may be limited. For instance, the company may only cover accidents or illnesses that are not pre-existing conditions. 

Pre-existing conditions are medical conditions that your pet has before you enroll in a policy. Most pet insurance policies do not cover pre-existing conditions. For example, if your dog has arthritis, the policy will not cover the cost of treating arthritis. Or, if your cat has diabetes, the policy will not cover the cost of treating it.

The frequency of premium payments 

Most companies offer monthly premiums, but some may offer other payment options, such as quarterly or yearly. 

The frequency of premium payments can affect the cost of the policy. For instance, if you pay monthly, the policy may be more expensive than if you pay quarterly. 

Also, some companies offer discounts for policyholders who pay their premiums in full upfront. Before you buy a policy, make sure you understand the frequency of premium payments and how it will affect the cost of the policy.

Also, most pet insurance policies have a term of 12 months, but some companies offer shorter or longer terms. If you have a 12-month policy, the policy will expire after 12 months, and you will need to renew it if you want coverage to continue.

Getting insurance for your dog

Buying insurance for your dog can be a great decision, but there are some things you need to keep in mind before you make that choice.

Ensure you understand the claims process, the waiting period, and the enrollment age limit. Also, consider how often you will have to pay premiums and the term length.

Considering these seven things, you can decide whether pet insurance is right for you and your furry friend.