Pets are not only beloved members of the family but often the best friend we could ask for. They’re also priceless, which is why it never hurts to prepare for the unexpected and plan ahead for veterinarian visits – which aren’t cheap. That’s where pet insurance comes in, which helps cover a portion of medical bills when your dog or cat gets sick or injured.
The type of plan you get depends on your budget, the risk your pet poses to the insurance company, and the coverage options you choose. For instance, you can lower your premium by selecting a higher deductible or a lower reimbursement rate but these might limit the amount of money you receive from your insurer when your pet gets sick or injured.
Many pet insurance companies offer supplemental riders, or add-ons, that you can purchase in addition to your core medical policy. These extras can include prescription medication coverage for your pet, routine wellness exams, vaccinations, heartworm treatment and flea and tick prevention, among other things. Some plans even provide travel coverage in case your pet is injured or ill abroad.
Some pet owners prefer to get maximum benefit plans that provide a set amount of money for each illness or injury and do not have any per-incident limits. However, there are also pet owners who would rather pay a lower monthly premium for a better chance of covering all their pet’s health care expenses.
When you shop for pet insurance, keep in mind that some providers have different levels of claims processing and customer support. This is important to consider because claims are the lifeblood of any insurance company, so it’s worth taking some time to find one with the most responsive team possible.
Another thing to consider is the length of your policy. While a year-long term is standard, there are some providers who offer shorter terms such as six months or three years. This is especially helpful if you want to try out pet insurance before committing to it for a longer period of time.
Once you’ve selected a plan, you can customize it by choosing the co-insurance, annual deductible and annual limit that works best for your budget. Typically, the lower you select these, the cheaper your monthly premium will be. But make sure you’re not sacrificing the level of coverage that your pet needs.
After your pet has an accident or gets sick, you’ll file a claim with the pet insurance company. Most companies provide online claim forms, which simplifies the process for both you and your vet. Once your claim has been processed, the insurance company will reimburse you for your pet’s care.
GEICO does not offer pet insurance directly, but we can help you find the right plan for your furry family member by providing access to leading providers such as Embrace and Trupanion. Please note that if you select an option to apply for a pet insurance plan through one of these providers, your application will be securely transferred to the provider, and your data will be subject to their privacy policies.