I'm sure you can agree with me when I say that pet insurance seems to be extremely difficult to understand and probably even more frustrating to buy.
But get this:
It turns out that pet health insurance has a framework similar to traditional health insurance and it does not change.
Once you have learned that pet insurance is generally easier to understand and buy.
In this guide today I will go through exactly what pet insurance is, how it works and how I can use this information to find the best insurance for your furbaby.
The History Of Pet Health Insurance
1890 Claes Virgin, founder of the County Insurance Alliance wrote the first pet insurance for pets in Sweden, believe it or not, it was focused on horses and livestock at it the time.
It's ok if you can not pronounce the name of his company, I did not even try it; The meaning of the name is literally "County Insurance ."
Britain would follow in 1947 with its first pet insurance.
When it comes to being a pet parent, the United States is not at the top of the list to cover our furbabies.
The first policy written in the United States was in 1982 and the first pet to receive coverage was good ole Lassie of Veterinary Pet Insurance.
We are drastically behind countries such as Sweden and the United Kingdom with only 0.7% of pets in the United States covered by pet insurance.
I know we had a late start; However, I think it's a bit ridiculous to be so far behind.
What is Pet Insurance
When you first get your pet, the last thing on your mind are any future accidents or unexpected illnesses that may happen.
Basically you are 100% focused on sweetness, everything your cat or dog does is cute.
For some, their pet sweetness never disappears. .
The truth is, however, that accidents are likely to come and diseases as well.
When this happens, you already want your pet covered by Pet Insurance.
"In Plan English" – Pet Insurance is health insurance for your pet.
A pet insurance plan offers coverage for things like illness, medication, hospital stay, accidents and some even offer preventative care.
These insurances usually only cover cats, dogs and horses but you can sometimes imes find it for more exotic pets like rabbits and birds.
How does pet insurance work
Now I know that this will probably rub many pet parents the wrong way.
However, Pet Health Insurance is not considered a "type of health insurance", it is actually considered a property and accident insurance because your pet is seen in the eyes of insurance companies as a type of property that you own.
Other than this distinct difference, the insurances work almost the same. I will go through each part of a pet insurance plan below:
Like all insurances, each pet insurance comes with a monthly premium.
You can usually find savings if you pay the plan on an annual basis.
However, prices and premiums will vary depending on the type of pet and the age of the pet.
The deductible is how much money you have to pay before the insurance company starts sharing the costs of your coverage.
Each company will have different deductibles that can range from $ 50, $ 100, $ 200, $ 250, $ 500, $ 750 or $ 1000.
As with all types of insurance that have a deductible, the lower the deductible, the higher the premiums.
If you buy a pet insurance with a fee of $ 100.00 and your pet needs to see a veterinarian due to an accident, you are responsible for the first $ 100, 00 on the bill.
If your pet's veterinary bill is $ 100.00 or less, you are responsible for the entire bill, and the insurance company will begin assisting with their compensation.
The compensation is the sum of a veterinary bill that an insurance company pays when you reach your deductible.
Usually you have to pay the full amount and get "compensation" from the insurance company.
Compensation levels vary from 60%, 70%, 80% and 90%; I have not yet seen any policy in the US that offers a 100% refund option.
Let's say your cat hurts in the tail while playing around the house.
You take her to the vet, and your final bill comes up to about $ 2,500.
You have $ 100, deductible plan with 70% repayment, how the split would work looks like this:
Traditionally, you will pay 100% of the final bill and wait for the insurance company to reimburse you.
Based on the above plan, you are responsible for the deduction of $ 100.00 and also 30% of your pet costs.
The insurance company would deduct $ 100.00 and then repay you 70% of the remaining bill which would be $ 1680.
In total, you would have only paid $ 820.00 for a $ 2500 banknote. As you can see, the savings are fantastic and the policy pays off really easily if you have a vet visit.
Recently, a majority of pet insurance companies have offered the option of getting the payment directly to the vet.  Paying the vet directly is a good option, and I would suggest anyone who can go this route to take it because it allows you to avoid paying a large, unexpected bill out of pocket.
Think of the annual maximum as a "Cap" on your coverage.
If your pet's veterinary bills reach the maximum value for that year, you are responsible for 100% of the costs for the rest of the year.
Annual maximum values can range from $ 5,000, $ 10,000 or unlimited .
The higher the annual maximum, the more expensive the insurance.
If you can afford it and the insurance company offers the alternative, I always recommend that you buy the Unlimited option. .
Insurance really protects us from uncertainty; It is much better for you not to have any "Caps" on cover for your pet.
The worst thing that can happen is that you stop getting a $ 25,000 banknote and you have an annual ceiling of $ 5,000, so you can easily slip into debt.
Receivables work a little differently with animal insurance.
You will want to know the exact process for filing a claim and how the damage process will work for which company covers your pet.
Most pet insurance companies now have mobile apps for Apple or Android.
With these apps you can take a picture of your vet bill, upload it and get your reimbursement in as little as 1 to 5 days via direct deposit.
If your pet insurance company does not have that option, you usually want to go online and print out a claim form and send in all the required documents by fax or mail.
Regardless of which option, it is important to leave the claim as soon as possible to get your refunds back.
Types of Pet Health Insurance
When you start looking for coverage for your pet, it is a good idea to understand exactly what type of coverage you are looking for and what type of coverage you may need for your pet.
You would not search for personalized dog blankets if you di already have no idea how you wanted it designed, so I suggest you do the same research for your pet insurance.
There are three main types of coverage, and I describe them below:
Accident protection is simply that, coverage for your pet if they have an accident.
This type of coverage is usually included in all basic pet insurance policies and can also be purchased separately with some companies.
Anyone who has a dog that is unable to qualify due to current medical issues would do well with just some kind of accident policy for their pet.
Sickness cover is also a standard benefit for all insurance policies; This cover is used to treat illnesses, diseases and any changes in your pet's normal well-being.
It is important to review the disease guidelines and know what will be covered and what will not.
Hereditary and Congenital Conditions
You want to search the insurance options for this benefit.
Although it is not a type of coverage option, it is important to have this inside your insurance.
You want to make sure that your pet can be covered for all hereditary conditions that you will not know when they are born.
Wellness is also preventive or routine care. This coverage can include things like vaccinations, exams and dental work.
These insurances are not offered by all insurance companies, so you need to look around to see if this benefit is offered if it is something you want.
Usually an additional fee is added to add this to the insurance. .
What is covered by pet insurance plans
Pet insurance covers a large number of situations and below we give you a sample list of things that are covered when you try to answer is pet insurance worth it. ] 19659099]