Pet insurance is complicated.
With so many options out there, it can be hard to determine which program is best for your pets — and for you.
To help you find the best plan for your furkid, keep an eye out for the typical pet insurance program pitfalls below:
#1: Find a company that doesn’t require an email address to get a quote.
Typical pet insurance companies require your email address just to get a quote. Be careful! This will sign you up for a lifetime of spam you may not want. Use a dummy email to ensure your inbox stays clear of all the clutter. An easy enrollment process should only require a few key details and take seconds to understand.
#2: Find a company that doesn’t discriminate based on your pet’s breed.
Typical pet insurance will gouge you for pets that are prone to a higher level of medical needs, or increase your rate if your pet’s breed is perceived to be potentially “aggressive.” Look for a pet insurance solution that treats every dog as a dog and every cat as a cat to ensure you’re not paying a substantially higher monthly premium for your favorite pet. If breed is required to get a quote, you can bet they are using it to increase your premium.
#3: Find a company that doesn’t increase your premium as your pet ages.
Typical pet insurance programs lure you in with a low premium for your 6-month-old, but steadily increase with the age of the pet. They don’t often inform of these changes, but your bank account will reflect the increase over time. Rates can double and even triple before you realize what has happened. Look for a program that has fixed rates for pets from the point of enrollment that don’t have a premium schedule that increases due to your pet aging.
#4: Avoid annual deductibles that limit the real value you can get from having a pet insurance plan.
Typical pet insurance programs will include an annual maximum of $1,500, for example, which means that $6,000 exploratory surgery will still leave you on the hook for over $4,500 when you least expect it. Look for a program with a lifetime maximum that is high enough to cover even the most extensive surgery or procedure.
#5: Watch out for waiting periods.
Many pet insurance programs will entice you to enroll with a 30-day free period. These programs tend to limit the coverage in the 30-day period to exclude accidents or illness for the first 14-30 days, leaving only minor and often inexpensive medical needs within coverage. Look for a program with full coverage from the moment you enroll as you never know when accidents or illnesses will happen.
#6: Look out for loopholes.
Typical pet insurance will collect your monthly premium and promise coverage right up until you go to the vet. At that point, they will ask that you pay for service at time of treatment and then take 4-6 weeks to scrutinize your pet’s medical history… all to find a way to deny the claim. Look for a program that clearly identifies pre-existing medical exclusions up front along with clearly stipulated exceptions to coverage, so your claims can be approved and paid within one week, instead of six.
#7: Pay attention to the coverage details.
Many pet insurance programs exclude coverage for the things your pet will need the most. Expensive surgeries, bilateral conditions and alternative treatment methods are commonly excluded. Look for a program that includes diagnostics, holistic care and procedures for things like hip dysplasia and luxating patella. A good program cares about the overall well-being of your pet, so they can live a happy and healthy life.
At Companion Protect, we wanted to stand out from the pack, so we built a program which avoids all of these pitfalls. And with an industry-leading claim approval rate, you can rest easy knowing you can count on your coverage when you need it the most.