Take out pet insurance? Avoid these 3 mistakes

While the benefits of pet insurance are multiple and substantial, like any other financial product, there are some pitfalls to avoid.

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Pet insurance is a unique and cost-effective way to protect both animals and their owners.

In exchange for a monthly fee to an insurer (often discounted if paid annually), owners can rest easy knowing that their dog or cat has guaranteed medical care and that they have the financial backing to get through any emergency or illness without breaking the bank.

Although the benefits of pet insurance are multiple and substantial, just like any other financial product, there are some pitfalls to avoid. By understanding this service and avoiding some common mistakes, owners can take out a reliable and low-cost policy.

You can now get a free pet insurance quote online so you know exactly what to expect.

Pet insurance mistakes to avoid

Pet insurance is not like life or health insurance for humans. Accordingly, owners should avoid making the following mistakes:

Bought too late

Waiting too long to get pet insurance can be detrimental in two ways.

  1. Insurance only gets more expensive as the pets get older and health problems arise. That risk translates into higher premiums. So it is better to take out a policy when the pet is young and healthy.
  2. Pet insurers discriminate against pets with pre-existing conditions. They do not cover nagging health problems that existed before the pet was insured. This can lead to a total disqualification from coverage – or minimal protection at best.

In short, if you want more coverage for less money, it’s wise to get pet insurance now before it’s too late. Start with a free online quote.

Not getting a second opinion

Most adults wouldn’t think of consulting their primary care physician before signing up with a health insurance company. But when it comes to pet insurance, it’s worth talking to your vet beforehand.

Your vet can help you adjust your insurance plan to the pet you have. They are already closely involved in the care and treatment of your animal and see all kinds of related matters on a daily basis.

By tapping your vet for advice, you can more precisely tailor your pet insurance coverage to just what you need now — or may need in the future. This way you don’t end up paying for protections that you probably won’t use.

Getting the wrong type

Carefully determine what kind of coverage you want and know what kind of coverage you can afford. From there, you can get a policy that works for you and your pet’s needs. Just understand that not all policies are the same.

An accident policy is just that: only for accidents. So if your pet swallows something they shouldn’t or they break a leg, accident insurance will cover you. But it no longer covers everyday visits or care. This includes comprehensive policy.

Fortunately, pet insurance can be tailored to what you need now and in the future. And the pricing is generally commensurate (accident-only policies are cheaper than most other types). Make sure you know the policy and budget for that policy before signing up.

it comes down to

Pet insurance has several benefits. However, to get the most value out of a future plan, it helps to buy it early. Ask your vet for input and do your homework to choose the right policy.

If you can get these three things right, a pet insurance plan will probably work for you. Start now!

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