5 things you need to consider when looking for pet insurance

When shopping for insurance, we too often look at the price that’s quoted. Unfortunately, this results in people choosing the wrong insurance policy and paying for it later. Here are five things you need to consider when looking for pet insurance.

Total cost

It’s a mistake to choose pet insurance based on monthly or annual premiums. You should run all the numbers. Does the insurance company give you a discount if you take your pet in for check-ups? Does the insurer provide you with access to discounts at specific groomers and caregivers? Choose the pet insurance policy that offers the best overall deal.

Breed

You may have heard about certain breeds being considered “dangerous.” If you have a dog labeled a dangerous breed, you may have trouble getting them covered under your homeowners’ insurance.

Pet insurance can cost more for certain breeds as well. Dog breeds prone to hip dysplasia and deep-chested breeds with more gastric disorders cost more than dog breeds with lower odds of serious issues arising.

Coverage

While you could choose the cheapest or most expensive pet insurance Australia has to offer, what matters most is the coverage. What illnesses and injuries does the pet insurance cover? Most pet insurance policies won’t cover pre-existing injuries and illnesses. This is similar to the rules that are intended to prevent people from signing up for health insurance after they get sick. Depending on the policy, it may not cover conditions the dog was born with.

The level of coverage is another factor. Some insurance policies will pay out for medical care for your pet up to a limit, and some have a limit on the total claims you can file in a given year. The greater the coverage, the higher the premiums. Conversely, the higher the coverage, the less you have to pay out if the worst happens. Always select an insurance policy where you can pay the premiums and the out of pocket expenses before coverage kicks in.

Exclusions

We’ve mentioned coverage, but you may need to shop for excluded items in some situations. For example, many pet insurance policies don’t cover pet breeding at all.

Some won’t cover complications from pet pregnancy either. Pet cancer may not be covered, covered up to a certain amount, or only be covered if you buy a specific rider.

You may pay more for a dog breed with a history of hip dysplasia, but some policies won’t cover hip dysplasia at all. Compare the policies for pet insurance for dogs on Iselect and find a cover that protects your dog at a reasonable price.