Best Pet Insurance Plans of 2017
Finding the best pet insurance plan is necessary to keep your pets healthy, and your wallet and budget secured. As a pet owner who loves pets, you need to know your pet products like pet insurance, and check what you are paying for. Insurance packages come with different premiums and coverage. It may also come with different terms when it comes to reimbursements, so know your option that are available in the market. Below is a comprehensive comparison of the best pet insurance plans considered and selected most pet owners, today.
Rating: – 5 Stars
Healthy Paws pet insurance plan covers all congenital and hereditary diseases, accidents at a competitive and affordable cost. With this pet insurance plan, you have the freedom to choose your preferred reimbursement level. Deductibles are easily managed to ensure your premium fits your budget. Your pet can enjoy unlimited lifetime and annual benefits. Whenever your pet gets ill, reimbursements will generally depend on the veterinary bill amount.
Why Choose Health Paws?
Besides being a generous plan, this pet insurance company maintains its position as high ranking insurance plan provider. The company remains high ranked in terms of above-average claim approval. Customers who are currently using the plan are highly satisfied with the customer service and insurance products.
Insurance premium starts with $35.55 per month and offers up to 90% reimbursement. What’s best is that it has no annual limits.
This is not the plan for wellness coverage, and the reason why premiums are low.
Rating: – 4.5 Stars
Accidents and various health conditions including congenital and hereditary are covered in this insurance plan. Embrace offers flexible options allowing customers to choose their own annual limits, deductibles and reimbursement levels. Lifetime benefits await your pets, when you choose to have this pet insurance plan from Embrace.
Why Choose Embrace Plan?
With its great scope of treatments included in this pet insurance plan coverage, there is no reason not to choose it over others. Homeopathic treatments, electromagnetic treatment, and oxygen therapy are just some of the significant inclusion in the list of treatments covered within the plan. Chiropractic care and standard acupuncture are also offered. With a premium of $12.17 per month, it’s never going to be a burden on your pocket. This pet insurance pet plan allows 70% reimbursement level, $5,000 annual limits, and $1,000 deductible annually.
You need to pay more if you want to add prescription medication coverage, and annual limits starts at $5,000 and can go up to $15,000.
Rating: – 4.5 Stars
Pets Best serves three varied plans, each with different coverage level. The lowest level of coverage focuses on accidents. The highest level of insurance plan coverage deals with illnesses, health conditions, both congenital and hereditary, and accidents depending on your location. To keep your budget for premium intact, opt for your own level of reimbursement and deductibles. Computation of reimbursements will be based on the vet bill.
Why Choose Pets Best
The extensive coverage of Pets Best to things not usually covered by other core policies of other plans can really get your attention. The benefits include pregnancy care for all breeds of pets, veterinary laboratory fees, and mobility and prosthetic devices. However, this plan lacks coverage for congenital and hereditary conditions in some locations. The minimum premium for this pet insurance plan is $13.87 per month with $1,000 deductible annually. You can enjoy 70% reimbursement and $5,000 annual limit.
This insurance plan will not cover congenital and hereditary conditions in selected states, so do your research.
Rating: – 4 Stars
PetPlan offers three varied pet insurance plan, including gold, silver and bronze. Each of this plan type has increasing levels of annual limit and coverage levels. To keep your premiums low, select the best level of deductibles and reimbursement levels. Choose the level of plan that suits best to your pet’s health needs.
Why customers opt for this plan?
Unlike other pet insurance plans, gold and silver level of coverage includes all kinds of coverage options. These options include fees for kennel boarding as well as reimbursements in case pets are lost. The gold level of coverage adds up vacation cancellation. Insurance premium starts with $28.71 per month with 80% reimbursement level. The plan offers $200 deductibles per year and an annual limit of $10,000.
It comes with a deductible per incident, which means that you need to pay for every incident or accident suffered by your pet.
Recommendations for Finding the Best Pet Insurance Plan
Pet insurance companies are accepting and insuring kittens and puppies as young as six weeks. Do not wait until your pet develops a condition not included in your existing insurance plan. Have them insured as soon as possible with the best insurance plan to reduce the risk of losing your pets. Before you finalize your decision, it is better to compare more than two insurance plans. You have to make sure you are not being persuaded by lower premiums.
If you get trapped in an insurers ‘trick, it might leave you in a problematic situation. If this is your case, don’t just switch to a cheaper insurer. Some cheap insurance plans are capped by its pre-existing conditions. Comparing insurance plans is never that difficult with the help of insurance plan reviews available online. You can choose to visit an insurer personally or do it online.
Is A Pet Insurance Plan Worth Your Investment and Time?
While getting an insurance plan for pets is not mandatory, it is best to sign up for an insurance package. If your pet gets injured, ill or lost, an insurance plan will make it easier for you to handle these situations. What if the moment they get injured, you don’t have enough money to pay for their medications? That is why it is so important to get an health insurance plan for your pets as soon as possible.
If you do not have an idea on the average treatment cost, here is a list based on the actual claims.
- Glaucoma, surgery and ongoing medications – $5,100
- Ingestion and surgery of foreign objects – $3,000
- Pain medications, patellar luxation, and surgery -$4,025
- Surgery of cruciate ligament tear -$5,400
- Parvo gastroenteritis, liquid medication – $5,100
- Cancer treatment, chemotherapy – $5,300
- Surgery on hip dysplasia and ongoing medications -$7,800
- Pneumonia and fever, hospitalization and emergency surgery -$8,300
- Blood work, diabetes and ongoing medications – $10,500
Pet insurance plan gives pet owners peace of mind when it comes to unexpected treatment for various medical conditions. Statistics shows that one out of three pets requires urgent medical and veterinary care per year. It also shows that filing insurance claims on vet care for dogs and cats is much easier and convenient, than filing for car or home insurance. According to data, pet parents have spent approximately 60.59 billion dollars on their pets in 2015.
Twenty five percent of this total cost has been spent for veterinary bills. In 2015, the average vet bills for cats per year have reached $594, while average vet bills for dogs every year is $786. This means that the cost of vet bills are expected to grow in the next few years. This requires you to be more prepared when things go wrong, whenever your pets need urgent care.
Savings Account vs. Pet Insurance
You might consider setting up a savings account for emergency vet care of your pets, instead of getting a medical insurance plan. This option might work well for others, but not in all cases. Your savings can fall flat, especially when you were not able to manage and control the money effectively. The money you saved may not be sufficient to cover all the expenses for medical care. This is why medical insurance plan works best over savings account.
Securing a medical insurance plan for your pets keeps you secured from any additional medical costs. When emergency cases occur, you might end up with zero savings because you were not prepared for it. Emergency savings fund can only work well if your pets remain healthy and never get injured or sick for several times. However, if your pets easily get sick due to the weather or environment, keeping them uninsured will only cause you headaches.
Playing the odds that you will gain cooperation from your pets is a poor action, so better consider an insurance plan. For instance, you have saved $100 every month into your savings account. In one year, you can have $12,000 cash on hand. Lets say that your pet got sick, and he needs to undergo surgery that will cost $3,000. What you have in your savings account may not be enough, since the cost of treatment may have doubled or even tripled. Meanwhile, if you choose to pay for a medical insurance for your puppy and paid monthly premium, it’s stress-free.
If you have paid $100 as your monthly premium and your insurance plan covered the illness had by your puppy, the insurance plan will surely assume a portion of the surgery cost. Most plans let you choose the deductible, which determines the percentage of overall treatment cost will be covered by the insurance. If you have chosen coverage with 90% reimbursement level and your deductible is $100, then the anticipated amount to be reimbursed is $2,600. What you are going to secure is the $100 deductible, and 10% of the total cost of surgery which is $300. Surely, $400 is easier to secure than paying $3,000 just to get your pet medicated.
With an insurance plan, you are given enough time to invest, unlike getting a savings account that takes few years to accumulate the amount needed for the surgery. Premiums are more convenient in terms of budgeting. Savings account can cover costs of treatment but it is difficult when you ran out of budget during unexpected cases. Unforeseen illnesses and injuries can always surprise you, and affect even your household budget.
Levels and Types of Insurance Coverage
Before you start paying for an insurance plan, it is imperative to get to know the level and type of insurance coverage you wish to have for your pets. Below is a list of categories for the types of insurance coverage.
Low Coverage Insurance Plans
This type of plan usually covers treatment for your pets in case of accidents. For instance, your pet was hit by a car but no serious health condition developed. There is a chance that you may not be able to file the claim. It may not always cover illnesses, so it would only be a waste of time, effort and money if you choose low coverage insurance plans.
Medium Coverage Insurance Plans
This type covers illnesses and accidents except, congenital and hereditary health conditions. Some of the treatment covered includes ear infections except for hip dysplasia.
High Coverage Plans
This type of plan coverage is the best type as it covers all illnesses, congenital and hereditary health conditions, and accidents. However, wellness care may not be covered by this plan. For instance, it may cover ear infections and hip dysplasia which is not usually covered in other type of insurance coverage. It does not include routine wellness care, like prevention of heart worm, flea, and tick as well as annual vet visit.
Broadest Insurance Coverage Plans
This type of insurance plan often includes extensive coverage from accidents, wellness care for veterinarian visits, and illnesses of all types.
Conditions Not Covered By An Insurance Plan
There are pre-existing conditions that are not covered by any insurance plan. These conditions include dental cleanings, preventive treatments for parasites and fleas as well as other congenital and hereditary conditions. Before getting insurance an plan, make sure to look at the exclusions reflected on the insurance policy. There should be a detailed list of the illnesses or conditions not covered in the insurance.
Coordinate with your vet concerning the common health issues considering the breed of your pet. This will give you a clearer understanding of what insurance coverage to choose.
The main reason for getting an insurance plan for your pets is that is reduces the cost of treatment for emergency cases, especially in times of crisis. You wouldn’t want to stare at your pets when they are in pain, and suffering from a medical condition. When getting the best pet insurance, try to remember these important things.
- Type and age of your pet
- Common health conditions of the specific breed
- Level of deductible, which refers to your annual payment or payment for every condition before the insurance coverage is used.
- Level of reimbursement, which refers to the cost percentage for covered treatments
- Monthly premiums, which refers to the payment you make to keep your pet insurance plan active and usable
- Overall premiums over the lifetime of your pets against possible veterinary costs
- Getting your pets insured ahead of time, gives you peace of mind whenever your pets need medical care
- Treatment cost for an unforeseen illnesses or emergency cases.
Tips to Remember When Coordinating with Insurance Companies
Make sure you take note of limitations, bad insurance coverage and exclusions. Some insurance companies may sometimes schedule increases in premiums which may not be budget friendly. Another frustrating aspect which you should be aware of is the renewal of insurance policies and lifetime coverage options. Always keep informed of the current policies implemented. In some cases, companies are selective in terms of breed-specific health coverage. Others might implement limit in age upon enrolment with the plan. Capped amount of reimbursements in every condition is certainly not a good idea. If a company policy chooses to cover only those with bilateral conditions, this will surely hit you.
Now is the Best time to decide, if you are going to:
- Wait until something happens to your pets and get burdened with the vet expenses and end up worrying for days;
- Secure a pet insurance plan for your pets, and pay monthly premium for a complete insurance coverage.
The key steps in finding the best insurance plan for your pets include comparison of the existing insurance plans, and considering the type of coverage and level of reimbursement. Insurance policy may vary depending on the age of your pets, the state where the insurance plan is offered, treatments covered, frequency of treatment for similar illness and other ailments. Coverage for those care services extends to diagnostic tests, surgery, medications and major treatment for the condition.
Getting your pet an insurance plan simply manifests your love and concern for them. Choosing a cheaper plan may not always be the best option, as these insurance plans and products may offer you limited products and services may become sub-par. If you want the best coverage and you want peace of mind for you and your pets, then you need to consider the best insurance coverage in the market right now. Although insurance premiums may hurt your wallet today, these products can actually help your cats, and protect your money in the near future.