It would be wrong to assume that you are covered for all eventualities and it is important to study the policy carefully before you sign up to a low cost pet insurance.
As a pet owner myself, I had to research high and low to make sure I get the quality care that my pet cat so deserves. In the process, I have learned about the various insurance companies that offer low cost pet insurance, the many types of coverage, and where one could possibly get the lowest price for a fairly good package.
In this article, I will share with you this valuable information that may help you decide in finding a good low cost insurance for your pet and which pet insurance provider is right for you.
Contents
Leading Companies
Although pet insurance is widely used throughout Europe and other parts of the world, in the United States it doesn’t seem to be so prominent with pet owners. This situation is changing slowly but still a long way short of the amount of dog and cat owners that have pet insurance in other parts of the world.
The UK has dozens of pet insurance policies available including Petplan, Direct Line, and Churchill to name just a few.
Countries like Australia are also well served with pet insurance options with names such as PIA and Petsure to name just 2 out of many. But in the United States, there are many but not necessarily an abundance of choices.
The market leader in the United States is VPI and they have been established the longest by far. Other companies include Trupanion, Pets Best Insurance, Embrace, Petplan (not related to UK Petplan), and from Canada but now available in most of the US is Petcare.
Other players in the United States include Petshealth and ASPCA, which make up the main crop of companies providing pet insurance.
For direct telephone quotes, you can call these numbers:
- VPI 1-888-899-4874;
- Trupanion 1-800.569.7913;
- Pets Best 1-877-738-7237;
- Embrace 1-800-511-9172;
- Petplan 1-866-467-3875;
- Petcare 1-866-275-7387;
- Petshealth 1-800-807-6724;
- ASPCA 1-866-861-9092.
Low Cost Pet Insurance
It is important that you understand that if you are looking for affordable pet insurance then you are probably going to choose a plan that means some exclusions to what you are covered for. It is not such a crazy idea to have such a policy as the more comprehensive cover can often mean you are paying a very high premium for problems that may never arise.
The lower premium policies usually have deductibles, co-payments and caps and limit how much the annual payout will cover. In other words, it is vital that you read the policy carefully before you sign up so you are in full understanding of what you are exactly covered for.
The best advice would be to look at what is available and on top of your premium, put some cash away monthly into an account designed to meet any additional costs. Some of the more comprehensive policies cover everything including expensive cancer treatments, vaccinations can be covered and the cost of spaying or neutering.
Sounds good but if you really think about it, then there is an excellent chance that you won’t need all the available treatments you are covered for, and spaying and neutering is a one off thing. Vaccinations are usually every 3 years so paying the extra premium will make your monthly insurance bill very high for things you may well not need.
With the more expensive cover you can even have MRI tests and a whole range of tests. This then throws up another dilemma. There has been major advances in what a vet can offer, which in short, means they find problems which you would not even know existed and before you know it you’re dealing with preventions as much as a cure.
Debatably some may say that this is unnecessary and why would you want to subject your cat or dog to prolonged uncomfortable treatments. Of course some would spare no expense for their pets but that is a decision only you can make.
Shop Around – Get Insurance Quotes
If you want to not have to shell out a fortune and looking towards cheap pet insurance for dogs and cats, then naturally you are giving up certain options. It’s a matter of balance which is why as suggested earlier, it’s wise to put away an extra amount as a fund for the unexpected.
It is not that different from when you shop for anything else. If you are only looking for low prices you’ll be in great luck if you’re ever to discover something of top quality. There is something to the saying that price and quality go hand in hand. Having said that, therefore means an affordable pet insurance is adequate enough protection when a problem occurs.
Best thing is to do some research and find out which one would best suit your needs and your budget. Here are a few tips on how to look for cheap pet insurance for dogs and cats.
Plan and Budget
What you should do is make a plan before you start shopping around. Sure, it will take time, and of course, it would be a lot easier if you could just pick the first one, but if you want to save money you’ll have to give something else, and in this case, your time.
One important thing to consider before you start is what kind of insurance you’re looking to get because the price will depend on it, and what eventualities you feel is most important to be covered for. Do you need full coverage or will the basic do? In most cases, basic cover would be sufficient.
As soon as you know what it is that you want, all you must do is present that to the insurance agents and have them make you an offer. When you have received all the insurance quotes you’ll take the one with the lowest price and present it to all the rest.
If they want you and your pet as their new customers, they will have to match the price. It will require some work on your part but it is one of the best ways to save money on your pet insurance. It’s worth a try.
Check Availability in your State
Like most insurers, pet insurers must be registered with your state. There are some insurance companies that do not operate in some states therefore it would be wise to check first what companies cover your area.
Review Policies and Exclusions Thoroughly
Before signing up with any insurer, make sure that you study and scrutinize the fine print especially the exclusions part. Most likely, the conditions that may afflict your pet would often be the ones that are in all probability excluded from a policy.
Savings
Most insurance companies would give you a discount if you paid the yearly premiums instead of monthly. If you have several pets, you may be able to get a lower premium if all are enrolled in the same company.
Other ways to cut cost is by insuring your cat or dog as early in its life as possible. Spayed and neutered pets often warrant a lower premium. Expect to pay more for certain breeds, especially those renowned for hereditary problems.
The best person to talk to about the different options available would be somebody who deals with insurance and pets on a daily basis. I could think of no greater expert on the subject than your vet.
Avoid the Comprehensive Wellness Plans
Easily these plans that cover Comprehensive Wellness packages can be the most expensive in the market. The odds are you will rarely use all the benefits. Some include spaying and neutering, and vaccines, but spaying or neutering is only done once, and vaccinations are done only every 3 years. So why pay monthly or yearly for these benefits?
Employment Benefits
You may not be aware of it but your employer may be offering pet insurance as a benefit to its staff. Often this is low cost pet insurance as they buy the policies at a discount, as they would buy in volume. Check with your human resources department.
Options
As an average, you can expect to pay under $20 a month for affordable pet insurance but there are variations to watch out for from company to company. The important things to be mindful of are the annual policy limit, as most insurance companies would put a cap on the annual amount they are prepared to pay out per pet.
Basic Coverage
Most basic coverage normally is for accidents that can help the pet owner in times of emergency. This being a cheap pet insurance plan can cover the pet for all kinds of injuries—from minor cuts and swallowed objects to broken bones and burns. In addition, dogs and cats over 8 weeks of age may be eligible regardless of age or health conditions.
Covered treatments are limited to those related only to an accident, which may include treatment for injuries, diagnostic procedures, lab tests, surgery, X-rays, hospitalization, and prescription medications.
Reimbursements vary from 80% up to 90% of customary charges after the deductible, and can have a minimum per incident limit of $2,500 with no limit to the number of accidents that may be covered each year.
There are cheap pet insurance that cover treatments related to illness as well as accidents and injuries. In some cases, these include emergency visits, specialist care, outpatient care, cancer treatments, MRI, CAT and X-ray, even chiropractic and acupuncture services in some.
Limitations and Exclusions
Others would include limited coverage for hip dysplasia; behavioral conditions; hereditary conditions when your pet is enrolled before its 2nd birthday; pregnancies when not related to breeding, with exclusions on certain breeds; and cremation or burial.
The basic coverage normally is limited for working pets and those pets that have not been neutered nor spayed by the vet’s age recommendation.
It is important to note that there are pet insurance companies that would exclude Routine care, Veterinary exam fees, and most Pre-existing conditions. Also, coverage would not apply to any condition resulting from law enforcement, racing, guarding, or breeding.
Value-Added Benefits
There are those that include value-added benefits, like a 24-hour lost pet service and the issuance of a Pet ID Tag which would be engraved with the pet’s policy number and the 800 number of the insurance company so that in case he or she gets lost, they can easily be returned at anytime if found by a Good Samaritan.
Another benefit that some insurance companies include in their plans is the coverage by licensed veterinarians if you are temporarily visiting with your pet anywhere in the US or Canada. This includes 24 hour emergency clinics and referral specialists as well.
Impressions
Out of the current more popular pet insurance companies, many customers have reported being satisfied with Embrace Pet Insurance, for the simple reason that Embrace has set a standard among all pet insurance companies as they identify specifically from the start what they will cover and not cover.
Based on the multiple positive reviews as published by Pet Insurance Review and Top Consumer Reviews, Embrace had the edge over the others due to high approval rating by existing pleased customers, who have said that they are a dependable, caring company that donates $2 to a pet-related charity for every policy sold.
One customer would even go as far as saying Embrace was the ONLY pet insurer who would cover a pre-existing condition if it’s found to be curable. Same customer likewise said Embrace will go out of their way to maximize a claim rather than find reasons not to cover it like some insurers do.
Trupanion is another trusted pet insurance provider that had been given a 4-star rating out of 5 by customers, leaving positive comments like excellent service, good claim response, and supportive.
As the oldest among all pet insurance companies in the US, VPI (Veterinary Pet Insurance) ranks the 3rd as the most highly regarded. VPI plans allow you to choose your specific coverage to meet your needs as well as your vet.
VPI has six packages to choose from including: Common problems, Expensive Problems, Panic Moments, Additional Care, Routine Care and Enhanced Cancer Care. It is up to you to select coverage in just one or all of the categories depending on what would suit your needs best.
I have found several mixed reviews on VPI’s service and there had been many cases of higher expectations from VPI and ending up disappointed. All it boils down to is that we must educate ourselves and understand exactly what we are getting into before we sign up.
In Closing
Although in the US, pet insurance is not as widely used as in other parts of the world, the necessity is becoming more apparent to an increasing amount of pet owners. In these hard times, unexpected illness or accident will stretch your pockets to the limit, an event you may never be fully prepared for. Having a low cost pet insurance plan will ease the strain and help you spread the cost over a year.
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I will start this quest for quotes, wish me luck, and if any of you have a recommendation please do so. I have a 6 years old healthy G.Sheperd and cant afford the best plans right now because I’m disabled