A question I am often asked is “What is the cheapest pet insurance?”
The answer is simple: you get what you pay for, but that doesn’t mean you can get a lot that fits your budget and gives you the insurance coverage you need. Let me explain to you.
It is a recipe for disaster if you base your choice of pet insurance solely on price. Sure, you get cheap monthly premiums, but that’s just a bogus profit because you end up paying for a policy that doesn’t give you enough to pay your veterinary bill when you need it.
There are ways to change the odds in your favor so that your monthly premiums are kept to a minimum while having an amount of coverage that protects you from expensive veterinary bills.
The first rule for Cheapest Pet Insurance Health is to make sure that you have five very important illnesses in your policy.
These are essential:
- Coverage for chronic diseases
- Continued coverage of chronic diseases
- Coverage for hereditary / congenital diseases
- Cancer coverage
- Coverage for breed specific conditions
Why do you need these inclusions?
If you do not include these five key points in your pet insurance, you will lose your money because without them you will not be fully protected.
These animal diseases can and will likely affect your animal throughout its life, and each is particularly difficult and expensive to treat.
A handful of good pet insurance companies offer coverage for these items in their basic plan. Others have them as add-ons for which you pay extra, and others don’t include them at all.
Here is a short list of some animal health insurance companies that include the five conditions in their basic insurance.
- Healthy legs
- Purina care
OK then. So we have identified a number of insurers with these important illnesses included in their basic plan. The next step is to check the price to see how your premiums can be compared. Basic premiums should range from $ 5 a month to $ 15 a month. This is their starting point, but there are other factors that affect monthly premiums, such as: The coverage you choose, your breed of animal, the age of your animal, your location, etc.
In general, you should expect to pay between $ 15 and $ 40 a month or even more if you choose a premium plan.
In this part, I teach you how to save on your monthly premiums.
Most pet health insurance companies base their pricing structure on a few factors.
- What is covered
- What is not covered (exclusions)
- Maximum payment
These are the last two that I want to focus on now.
- The deductible is the amount of the veterinary bill that you must pay before the insurance company begins to pay.
- The co-payment is the percentage of the costs covered that you must pay once the deductible has been paid.
You can increase or decrease the amount you pay each month by adjusting the levels of these two items. In other words, if you choose a higher deductible or co-payment, you reduce your monthly premium, but your medical costs are higher.
On the other hand, a low deductible or co-payment increases the cost of monthly premiums, but your own expenses are reduced.
It is a small balancing act. Here are some questions to ask yourself to find the right balance that suits your budget and the well-being of your pet.
Take a moment to think about your pet. How old is he Living inside or outside? Is it a nasty pet that always finds itself in evil? Is the breed susceptible to hereditary diseases? Is he overweight? Does he have a sense of the street and so on?
If you are asking yourself these questions, you should be able to determine an affordable level of coverage that will most likely meet all of your pet’s medical needs while saving you money.
Do not forget:
The higher the deductible and the additional payment, the lower your monthly premiums.
The lower the deductible and the additional payment, the higher your monthly premiums.
It is much better to adjust the deductible and pay easily to lower the premium than to remove one of the five main elements of coverage mentioned above.
There is one more thing to consider when getting the cheapest pet insurance: the maximum payment structures.
At the upper end of the scale, medical costs for serious illness or injury can be as high as $ 10 or even $ 20,000. Since it is impossible to know in advance what injuries or illnesses your pet will suffer from, you should focus on the plans, which gives you the greatest flexibility when it comes to maximum payments so you don’t miss anything.
There are a number of “maximum payment” structures offered by pet insurance companies, including:
- Maximum payment per incident
- Maximum payment per year
- Maximum lifetime payment
- Maximum payment per body system
- Maximum payment based on a defined benefit plan
- Unlimited maximum payment
Maximum payment per organization and predefined benefit plans are not recommended. You limit the share of your maximum annual payment that you can spend in the event of illness, accident or injury. Avoid them.
It is better to have the maximum payment per year (the “ maximum annual payment ” reset each year so that this amount is available each year) or the maximum payment for life (the maximum amount that will be refunded to you during the lifetime of your pet) choose.
Let’s take a look at some of the major insurers. Embrace Pet Insurance has a maximum annual payment of $ 15,000. Purina care insurance: $ 20,000 per year and Trupanion insurance: $ 20,000 per year.
- There is a peculiarity. Healthy Paws Pet Insurance offers an unlimited maximum payment structure as part of its basic plan. Few pet insurance companies offer unlimited payment structures at no additional cost. This is by far the best structure, especially if you are considering a plan with lower monthly premiums.
Finally, you should inquire about the reputation of each pet insurance company. There are websites that offer pet insurance comparisons and ratings based on actual customer satisfaction reports, real experiences, testimonials, better business office ratings, etc. Using the information collected on these websites takes a lot of work and help. You should draw a straight line to the best pet insurance coverage that fits your pocket and your pet’s continuing health needs.
As you are interested in getting the Cheapest Pet Insurance, we invite you to read another articel about to buy pet insurance: https://vetsimo.com/4-simple-steps-to-buy-pet-insurance/.