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Animal insurance is a unique and economical way to protect both animals and their owners.
In return for a monthly fee to an insurance provider (often at discounted price if paid annually), owners can rest easy knowing their dog or cat has guaranteed medical care and the financial backing to deal with any emergency or illness without breaking the bank.
Although the benefits of a pet insurance policy are multiple and substantial, like any other financial product, there are also pitfalls to avoid. By understanding this service and avoiding some common mistakes, homeowners can get a reliable, inexpensive policy.
You can get a free pet insurance quote online now so you know exactly what to expect.
Pet Insurance Mistakes to Avoid
Pet insurance is not like life insurance or health insurance for humans. Therefore, owners should avoid making the following mistakes:
buy it too late
Waiting too long to get pet insurance can be detrimental in two ways.
First, insurance only becomes more expensive as animals age and health issues arise. This risk will result in higher premiums. It is therefore best to take out a policy when the animal is young and in good health.
Second, pet insurers discriminate against pets with pre-existing conditions. They will not cover ongoing health conditions that existed before the animal was insured. This could result in total disqualification from coverage – or minimal protection, at best.
So, in short, if you want more coverage for less money, it makes sense 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 GP before signing up with a health insurance provider. But when it comes to pet insurance, it’s worth talking to your veterinarian beforehand.
Your veterinarian can help you adapt your insurance plan to the animal you have. They are already closely involved in your pet’s care and treatment and see a variety of related issues on a daily basis.
By calling on your veterinarian for advice, you can more precisely tailor your pet insurance coverage to what you need now — or may need in the future. That way, you won’t end up paying for protections you probably won’t use.
Get the wrong type
Understand the type of coverage you want and know what type of coverage you can afford. From then on, you can get a policy that meets your needs and those of your pet. Just understand that not all policies are the same.
An accident insurance policy is just that: for accidents only. So if your pet swallows something it shouldn’t have or has a broken leg, an accident-only insurance policy will cover you. But this will not cover more mundane visits or treatments. This will come under more global policies.
Fortunately, pet insurance can be tailored to your current and future needs. And the price is usually commensurate (accident-only insurance policies are cheaper than most other types).
Just make sure you know the policy and budget of this policy before signing up.
The bottom line
Pet insurance has many benefits. However, to get the most out of a forward-looking plan, it helps to buy it early. Ask your veterinarian for advice and do your homework to choose the right policy.
If you can do these three things well, a pet insurance plan will probably work for you.
Start now!
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