By: Dr. Clayton Greenway, B.Sc., DVM | Nov 4, 2016
Dr. Greenway discusses pet insurance and whether it is right for you as well as the different categories available. Other topics covered in this video include the importance of reading the fine print, types of pet insurance policies, the benefits of pet insurance and alternatives to it, how premiums are affected, the importance of getting estimates and pre-approval forms.
I get a lot of questions about whether people should get pet insurance. This is what I like to tell them. First of all, pet insurance is great if you’re the type of person who’s a real worrier. If you see something wrong with your pet and you want to get it looked at right away. For instance, if they have some vomiting or diarrhea and you want to get them right into the clinic to have them looked at, it’s great to have that pet insurance that will pay for that.
I like to tell people that there’s kind of two categories, there’s kind of the fire and theft and then there’s the comprehensive policies. With fire and theft it will actually say what you’re covered for, like a broken leg, hit by car, foreign-body ingestion, whereas a comprehensive policy which is going to be more expensive, will cover by system. So it will cover gastrointestinal or musculoskeletal so any disease under that system will be covered. Certainly there will be a difference in the premium for each one of those policies and you’re going to want to look at your budget for that.
The other things to look at with pet insurance is you really have to read the fine print. You’re going to want to look for things like, are their lifetime maximums of coverage? You’re going to want to know what the deductible is before they pay out the rest of that bill. You can also take bills that the vet is recommending, quotes and send them into your company and get pre-approval as well.
The last thing to think about is that you could take that premium and set up an account yourself. Put that money away and build it up and if you ever need to use it for your pet it’s there. If you don’t need to use it, then you can use it for yourself. So these are the things you should weigh or take a look at in order to figure out if pet insurance is right for you. For more information click the link to the article on pet insurance on healthcareforpets.com.
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