This Is What Pet Insurance Covers

What Does Pet Insurance Cover?

Your pet isn’t just a buddy; they’re a cherished part of your household.

Besides pampering them with treats, cozy beds, and an array of toys, keeping your furry friend healthy is a prime concern. Regular vet check-ups and medical care for any health issues are essential.

That’s where pet insurance steps in—it’s a helpful way to ease the financial load linked to your pet’s healthcare expenses.

Pet Insurance Plan Types

What Does Pet Insurance Actually Cover?

Pet insurance is like a health plan for your furry buddy.

It helps with some vet bills when things go haywire, from accidents to sickness and even routine check-ups. Imagine it like a safety net for unexpected pet health stuff.

Here’s a peek into what the best pet insurance usually covers:

Accidents and Injuries

This covers medical expenses for accidents such as ACL ruptures, bite wounds, broken bones, cuts, swallowed objects, and toxic ingestions.

Behavioral Therapy

For behavioral issues like aggression, destructive chewing, or excessive barking, some plans cover the associated therapy costs.

Chronic Illnesses

Medical expenses for ongoing conditions like allergies, arthritis, digestive problems (like inflammatory bowel disease), seizures, and skin conditions fall under this category.

Common Illnesses

Covering medical expenses for common illnesses such as diarrhea, ear infections, urinary tract infections, vomiting, and other similar health issues.

Hereditary Conditions

Expenses related to hereditary conditions like blood disorders, eye issues, and hip dysplasia can also be covered.

Holistic and Alternative Procedures

Certain plans cover alternative treatments such as acupuncture, chiropractic care, laser therapy, and even the cost of microchip implantation for tracking lost pets.

Prescription Food and Supplements

When specific health conditions require special diets or supplements, some policies assist with these costs.

Prescription Medications

From chronic conditions to infections or pain management, the cost of prescribed medications can be part of the coverage.

Procedures

Coverage extends to medical procedures like chemotherapy, endoscopies, hospitalizations, nursing care, and surgeries.

Serious Illnesses

Expenses related to severe conditions such as cancer, diabetes, or heart disease are also often included.

Testing and Diagnostics

Covering the cost of various diagnostic procedures like blood tests, CT scans, MRIs, ultrasounds, and X-rays.

Wellness Procedures

Routine check-ups, vaccinations, flea and heartworm prevention, along with spaying, neutering, and other wellness-related expenses can be covered by certain policies.

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Types of Pet Insurance

When it comes to pet insurance, there are three main types: accident and illness, accident-only, and wellness policies. What each one covers depends on the specific policy you choose.

Accident and Illness Coverage

This is the most common pet insurance plan and covers a wide range of issues, including accidents (like a torn ACL or swallowing something weird) and illnesses (such as allergies, cancer, and ear infections).

Pros:

• Covers both accident and illness-related problems.
• Helps with chronic illnesses and hereditary conditions.
• Assists with payments for diagnostic tests, procedures, hospitalizations, and medical prescriptions related to accidents and illnesses.

Cons:

• Generally more expensive compared to other types of coverage.
• Doesn’t cover routine wellness exams.

Accident-Only Coverage

This plan focuses solely on accident-related medical expenses, such as a torn cruciate ligament or injuries from dog bites. It doesn’t cover illnesses like ear infections or cancer.

Pros:

• Typically costs less than accident and illness coverage.
• Helps with payments for accident-related tests, procedures, hospitalizations, and medical prescriptions.

Cons:

• Doesn’t cover illnesses or hereditary issues.
• Excludes coverage for routine wellness exams.

Wellness Coverage

Wellness plans are optional add-ons provided by many pet insurers. They take care of wellness-related expenses such as yearly check-ups, flea and tick prevention, and vaccinations. Usually, you can add a wellness plan to an accident and illness policy but not to an accident-only policy.

Pros:

• Covers routine wellness exams.
• Includes flea, tick, and heartworm prevention.
• Includes vaccinations.

Cons:

• Can’t be purchased as a standalone policy.
• Can’t be added to an accident-only policy.

Additional Coverage Options with Pet Insurance

Some pet insurance providers offer additional coverage options through riders.

For instance, Trupanion provides a Pet Owner Assistance Package covering non-veterinary issues like lost pet advertising, boarding fees if you’re hospitalized, cremation or burial for accident-related pet deaths, and liability coverage for property damage caused by your pet.

Exclusions in Pet Insurance Plans

There are common exclusions in pet insurance plans:

Pre-Existing Conditions: These are health issues your pet had before starting coverage. While some plans may exclude them permanently, others might reconsider after your pet shows six months of being cured, backed by medical records.

Experimental Treatment: Diagnostic or treatment methods considered experimental or not meeting standard veterinary care may not be covered.

Grooming: Services like baths, shampoos, or nail trims typically aren’t covered.

Food and Supplements: Regular dietary expenses aren’t covered, but some plans may cover prescription food and supplements.

Non-Veterinary Expenses: This includes waste disposal, record access, licensing fees, or adhering to government regulations.

Pet Liability Coverage

Some pet insurance companies might offer liability coverage if your pet causes damage to property or injures someone. However, these incidents are often covered by homeowners insurance. For instance, Trupanion’s package covers pet-related property damage up to $25,000.

How Pet Insurance Functions

Pet insurance works on a reimbursement basis. You pay the vet upfront, submit a claim (with invoices and medical records), and the insurer reviews it. If covered, you receive reimbursement.

Determining Pet Insurance Costs

The average monthly cost for pet insurance is approximately $55 for dogs with unlimited annual coverage. Factors affecting the cost include the pet’s breed, age, pre-existing conditions, location, coverage types, deductible, reimbursement level, and whether it’s a dog or a cat.

Average Monthly Pet Insurance Cost

Is Pet Insurance Worth It?

Determining if pet insurance is worth it involves weighing potential vet bills against the annual insurance cost.

Let’s break it down:

Imagine your furry friend faces a hefty vet bill due to an accident or illness. Without insurance, such expenses can skyrocket.

For instance, if your pet needs a $3,000 surgery and your insurance has a $100 deductible with 90% reimbursement, you’d only end up paying $400 ($100 deductible + 10% of surgery cost).

However, pet insurance isn’t just about the savings—it’s an ongoing expense. Over a decade, paying an average of $500 annually for accident and illness coverage adds up to $5,000. Some prefer stashing money in savings for pet medical needs.

If squirreling away thousands isn’t feasible, pet insurance becomes a safety net. It prevents the shock of a major vet bill and avoids maxing out your credit card in emergencies.

Ultimately, it’s about balancing the potential cost savings with the ongoing expense of insurance, based on your financial circumstances and peace of mind.

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FAQ

Does pet insurance cover vaccines?

Standard accident and illness plans typically don’t cover vaccines. To include vaccine coverage, you’d need to opt for additional wellness coverage. Wellness plans often cover routine visits, tick and heartworm prevention, along with vaccines.

Does pet insurance pay out if my dog dies?

Most plans cover end-of-life expenses, like euthanasia, under certain conditions. For instance, Embrace covers euthanasia related to covered problems but not for pre-existing conditions.

Do any pet insurance providers cover pre-existing conditions?

Some companies cover curable pre-existing conditions like bladder infections. Incurable conditions like cancer or arthritis usually aren’t covered. ASPCA doesn’t consider a condition pre-existing if it’s cured with no symptoms for 180 days.

Why do pet insurance policies have waiting periods?

Waiting periods prevent fraudulent claims for pre-existing conditions. These periods vary among insurers and typically delay coverage for illnesses or accidents after policy purchase.

Is there a full-coverage pet insurance policy?

Comprehensive plans cover accidents, illnesses, and optionally, wellness. However, they exclude incurable pre-existing conditions.

Does pet insurance cover hip dysplasia?

Some companies like Trupanion, Nationwide, Lemonade, and Healthy Paws cover hip dysplasia, albeit with varying waiting periods and conditions.

What is the most affordable pet insurance?

ManyPets offers the most affordable pet insurance at about $36/month for unlimited annual coverage. Pets Best and MetLife also provide competitive rates at $50 and $51 per month, respectively.

🔥 Daily Inspiration 🔥

Where large sums of money are concerned, it is advisable to trust nobody.

— Agatha Christie