When you search online, the words “free” and “cheap” are often used as the lure to get people to read the article. Therefore, as you read on you realize that it has little to do with free as nothing in pet insurance is free and cheap is often misused, too.
It is always words like “free”, “cheap” and “low cost” that people search for and I have to admit that I am pretty… well… sad or disappointed about that fact. I would love to use the word suitable but that doesn’t make people read the article but in reality it is a far more fitting term when searching for advice or details. Let me explain why I don’t think cheap pet insurance is the way ahead.
As a pet lover, I am generally against the fact that people try to save a few dollars or pounds when it comes to taking care of their pets but I can’t help the fact that this is what many people do as a matter of economics most times and its perfectly understandable. However, as a website owner, I feel I have to provide people with what they look for while still trying to get my point across.
So here goes…
What you will find in this Article
- Affordable vs. Cheap Pet Insurance Coverage
- Pet Insurance Comparison Sites
- Customer Feedback
- Consumer Groups Reviews and Reports
Affordable vs. Cheap Pet Insurance Coverage
It is not that people are trying to get a “great coverage” or the “perfect pet insurance” at the right price but rather they search for just the price and then hope to afterwards get a coverage that will be sufficient for their pet. I think that is the wrong way around it. You end up far more focused on cost than what you are actually getting for your money which can be a huge mistake.
It’s like going to the drugstore to buy medicine to save your life from a bad disease and then ask the pharmacist for the cheapest product first, and secondly, what the chances are that it will work for you (supposing that the cheaper drug has a less efficiency rate). It’s how it is in most walks of life, if you buy tinned beans for less money then you are probably buying more water than tomato sauce and fewer beans in the can. It’s the same with pet insurance.
I think what is important is to look for quality yet affordable pet insurance more than ‘cheap’. I believe it’s just a matter of prioritizing coverage and making comparisons, and reviewing each one and see at the end of your review which provides the same coverage at less cost than the others. In your mind, the key word must be suitable. That’s really what it’s all about as we all have different needs and your pet is unique.
When searching for pet insurance a good place to start is to narrow down your search as to whether you’re looking for pet insurance for your dog or your cat. Now I know that you might say that you need it for your horse, your exotic bird, your pet rabbit or another type of animal but unfortunately that is out of the scope of this article. Finding insurance coverage for other pets than cats and dogs can really be a challenge. That is a different search and for the purpose of this article, I won’t go into that.
Pet Insurance Comparison Sites
If you live in the UK, there is a site called MoneySupermarket, which is a price comparison site comparing anything from prices on broadband connections to utility prices. Among those you’ll find are tools for searching for the cheapest pet insurance, may it be for your dog or cat or other pet animals.
The site provides you with a guide on how to find cheap pet insurance easily based on published rates of various pet insurers but what may be difficult is finding the right policy that would best suit your budget and your pet’s needs.
This is where MoneySupermarket gives the added value of giving you pointers through this guide to help you understand the policy that may be right for you and your pet.
It lists down several of their partner providers with links to go to each of their websites for you to be able to review what they offer. Companies include pet-insurance.co.uk 08449 809 144, Argos 0800 422 0380, Sainsbury’s 0800 434 6359, and Tesco 0845 078 3878 to name a few.
What you must not do is to focus purely on price but it’s a good starting point to find something affordable and at the same time suitable.
Most of these pet insurance companies online give you instant quotes by letting you enter information about the breed of your dog or cat as well as the age. Another plus is that you are asked if you prefer to pay on a monthly or an annual basis. Insurance companies normally give you a discount if you pay a year in advance.
This is one way of collecting information on the various pet insurers’ plans and allows you to compare coverage and prices.
In the US, there is a similar site called PetInsuranceReview and they too have kept their focus on dog insurance and cat insurance.
On their site, you’re able to inquire for quotes directly by indicating your pet’s breed and age. By registering your email address, with this info, PetInsuranceReview forwards your inquiry to different pet insurers, and you shall start receiving rate quotes from these companies on your email quickly within the next few minutes.
It may be an invite to intrusion but not really. All you are going to get is quotes which is what you want anyway. If you end up being bombarded by spam after then it’s easy enough to control that. It’s a small risk to take and it allows them to do the work for you and deliver the information to your email which of course makes life a lot easier for you.
Pet insurers may include ASPCA/Hartville (800) 807-6724, Trupanion (800) 569-7913, PetPlan (866) 467-3875, Pet First Healthcare (866) 937-PETS (7387), Embrace (800) 511-9172, Pets Best (866) 405-3647, and VPI (888) 899-4VPI.
Again, these personalized quotes are based on your pet’s age and breed. They would all ask you questions about your pet’s medical history. Whether your pet has shown any signs or symptoms of, received treatment for, or been diagnosed with any illness or condition, as this affects your pet’s eligibility. It is up to you therefore, to review each and every quote and compare the coverage. It is an easy way to do your homework. If you have further questions, it is best that you call them up directly.
You will need to go to the same process of finding cheap or low cost cat insurance. You are directed to the cat insurance section on these websites. You’ll find that cat insurance is cheaper than dog insurance in most cases but it will eventually depend on the breed as well as the age of the animal. As usual, older pets are more likely to have illnesses and get injured and will therefore cost you a larger sum of money.
Another good way of getting information about pet insurance is through customer reviews. Through customers’ account of their experiences with the different insurers, you can get a fairly good idea of what to expect.
On one review site, Pet Insurance Review for instance, customers are given a chance to leave comments whether positive or negative about their pet insurers.
Yes many people carp on about petty things but simply look for consistency in the comments. Regular praise or many critics is a fairer way to judge them. Don’t take to much notice of just one opinion read a few and see what kind of impression it leaves with you.
As an example, ASPCA is given a 7.7 out of 10 rating by customers. The more common sentiment of general satisfaction with the coverage plans and customer service is quite prominent. Some complaints have been reported as well, like reimbursements took longer than expected after submission of the claim. However, the overall rating system is a useful way of gauging overall impressions.
Another had posted that during the waiting period of 30 days, his pet had fallen sick with pneumonia and since the insurance plan had not taken effect yet then, it was an out of pocket expense for this customer. A couple of months later, when the insurance plan was already in effect, the dog had a recurring bout of pneumonia, but was taken to another vet.
Of course, the customer had paid for it first but filed a claim for the vet expenses for this illness. His claim was denied saying it has fallen under pre-existing condition category, even when the vets had certified that even though the illness started during the waiting period, ulcers had already developed, and should therefore be covered. This just goes to show that you must understand exactly what comes under pre-existing conditions so that you will not experience disappointment if something happens like this to you.
Another company, Embrace, has been given the highest rating of 9.2 out of 10 by customers. Comments were mostly positive and you could read the general satisfaction among the customers that had left comments on the site.
Based on the high rating it may be a good idea to look deeper into what they offer and see why people seemed so happy. It’s good to begin with the most likely to please companies to set the standard for future research. The others will have to impress you more so on reviews, Embrace have set you a standard to compare others by.
Consumer Groups Reviews and Reports
Organized consumer groups review regularly the various service providers and release a report on their findings. Top Consumer Reviews for instance, had released 2011’s top pet insurance companies, with Embrace being on top, Trupanion and VPI Pet Insurance coming in second and third respectively.
Through its report, you are provided with valuable information on each company’s good points, which can help you decide what company to go for. Looking through their review, you are given tips on how to look for the most inexpensive pet insurance.
Another group, ConsumerReports.org gives you various ways of cutting down vet costs through this article. They give you a straightforward account of what customers have experienced with the various insurers that you are given valuable advice on how you can actually get the cheapest pet insurance.
To Wrap Up
Naturally, none of us want to pay more than we need to, but if you only think price, then its very likely you are going to be disappointed in the future and if you haven’t done your research first, you only have yourself to blame.
So before you go search for cheap pet insurance, PLEASE think twice and go for the level of coverage first and THEN go for the most affordable price but ensure you fully understand what you are getting for your money and that it is suitable for your needs. Happy hunting!
Mikael-As the saying goes, you get what you pay for. I spoke in one of your earlier posts about Trupanion. I agree that level of coverage is important. Anyone who’s looking at pet insurance should also check provider’s site and try to get a copy of their policy wording, benefit schedule(if applicable), and exclusions. They can help you make an educated decision. I’d be cautious if you go to a site and can’t get their policy wording. Just my 2 cents worth.
That is a great advice. Checking the site of the insurance company will provide some valuable pointers when making up your mind. I do feel that this can not be the only thing you do as comparing policy wording requires a lot of training and most people will not be able to (or even want to) read them and understand every word. Therefore I always suggest that you’ll pick up the phone and call the company… one of the parameters I look for is the time that they’ll leaving you hanging while waiting to get through. The (to me) can be a warning sign.
Very insightful – continue to spread your message. Looking forward to an update. For too long now have I had the need to begin with my own blog. Guess if I put it off any longer I’ll never do it. I’ll make sure to include you in my Blogroll. Many thanks!!
For one, pet owners need to consider their pet insurance options based on their pet’s age. From my experience, when your cat or dog is still young you don’t need to pay high rates for pet insurance since you only need basic coverage in case of an emergency. As you pet ages things become more difficult… Insurance companies start asking for more money, you see exactly why they have so many exclusions in their policy, breed-specific inclusions especially. It’s key to be able to compare all possible choices because on day this is going to save your pet’s life. That’s what you need to think about, it’s not about the cost so much, your pet’s life really will depend on the term of the plan which you choose. Using a pet insurance comparison service seems like the best choice because it saves a ton of time. But once you have several top choices, you NEED to do this: call each company personally to check how they are working. This is the only way you can be sure you are going with the best company.
If you think you can change insurance companies or get a policy after your pet has a problem, then you could be greatly disappointed or upset. Insurance companies all have a pre-existing condition clause, and this will exclude any condition that your pet already has. It is always better to take out lifetime pet insurance, but check exactly what this covers. There will be either maximum payouts per annum or per condition, but at least your pet will always be covered throughout its life up to these maximums.