Veterinary pet insurance can be an effective way for pet owners to manage the rising costs of a pet’s healthcare cost. Since 2002, the cost of caring for our pets has more than doubled in America. Luckily, this increase in cost has also been accompanied by advances in the quality of pet healthcare. While veterinary pet insurance has many benefits, there are also many things you should keep in mind when evaluating the multiple policies.
There are two primary types of veterinary pet insurance policies. The first type of policy is a lifetime. The second type of policy is non-lifetime. Lifetime pet insurance policies cover pet conditions throughout a pet’s lifetime such that a pet health condition discovered in the first year of coverage will be covered in the second year upon renewal of the pet insurance policy.
Non-lifetime pet insurance policies typically only cover a pet condition during the first year; it is diagnosed by a veterinarian costs during the second year of coverage.
Both types of policies typically have a deductible, co-pay amount, and limits to the amount of coverage similar to human health insurance. Many policies will also have exclusions to coverage for pre-existing conditions and certain breeds. Here are the top 5 pet insurance companies:
ASPCA Pet insurance
APSCA, or the American Society for the Prevention of Cruelty to Animals, has its insurance arm, simply called ASPCA pet insurance. Being one of the larger insurers in the industry, you might want to look at what they can provide for your pet.
A professional review rated ASPCA pet insurance at 8 out of 10. What they did was assess how the company took a potential consumer’s call and how the process was handled. They likewise enumerated the pros and cons of the company. ASPCA pet insurance doesn’t look all too good at all, but the professional review took note of how actual plan holders are negatively reviewing the company.
Trupanion Pet Insurance
Trupanion pet insurance has been offering pet owners affordable health and accident insurance for almost 10 years. Originally a Canadian company, Trupanion Pet Insurance became available to pet owners in the United States in 2008.
Trupanion offers perhaps one of the most complete dog insurance plans on the market. All illnesses and injuries, up to $20,000 are covered by Trupanion, and this includes insurance protection for dogs with congenital and hereditary disorders. Pre-existing conditions are not cover routine veterinary visits. Trupanion pet insurance provides protection for your pet and you when major illnesses or accidents occur. Here are the top pet insurance company to call first.
American Kennel Club (AKC) Pet Insurance
The AKC provides us annually with national/ major city registration statistics regarding the rankings by dog breed. According to their mission statement, the club is dedicated to the “study, breeding, exhibiting, running and maintenance and data collection to the study of the purebred in America.
This company has several plans available to you, including various wellness plans as well as accident and illness parts. Their renewal rates have tended to be higher, and their benefits list seems to go down. In addition, there are limitations in the dollar amount and time frames associated with each plan.
Veterinary Pet Insurance (VPI)
Veterinary Pet Insurance (VPI) is the oldest pet insurer and has about 71% of the U.S. pet insurance market. Veterinary Pet Insurance (VPI), is to make sure that you ask how long the company has been in business. Have they been around long enough to have even insured a pet for its entire lifetime? Nine out of ten veterinarians recommend the policies from VPI.
Other considerations to look at are whether the policy renewal specifications are clear and to the point. VPI premiums only change with the pet’s age, not with how many claims were made in the previous year. Also, the renewal will not exclude anything that was covered during last year’s plan.
FIGO Pet Insurance
FIGO Pet Insurance is one of the pet insurance that is changing the way pets’ owners insure their pets. This coma claims to be the first cloud-based pet insurance company, meaning they rely heavily on technology for all their offerings and processing.
Figo pet insurance offers some of the most comfortable plans among its competitors. While your premiums will vary depending on your pet, the company offers three levels of coverage-essential, preferred, and ultimate.
The company cloud-based set-up makes it easy to access veterinary records, ills, and claims through the company’s website. Their claims process is also one of the most seamless out there since you can upload veterinary bills from any device to their online portal.
Which One Is The Best
This is a loaded question, and I can’t provide you with a simple answer. The best insurance is the one that will provide you with the best policy for you and your dog. The only way to do this is to call around and ask. Some insurance companies may have different policies depending on breed and age and other factors. You can reduce the risk of needing to use pet insurance by taking some precautions; such as puppy proofing your home or training your dog to listen when you’re exploring.
As someone who has had to files several claims for my pet’s health. I have become a strong believer in keeping my policies updated. Sometimes it can seem like an expensive luxury, but it acts as a safety net that you will be more than happy to utilize when the time comes.