Despite the fact that insurance for pets has been available for more than 20 years, majority of pet owners are still not clear about the concept of pet health insurance. The availability of wide variety of coverage plans, while encouraging also confuses pet owners who are completely puzzled over the capability of these plans in minimizing their pet care expenses. A study conducted recently on pet insurance revealed that many pet owners have a tough time choosing an insurance plan that is right for them and cost-effective at the same time. Let us have a look at the various factors that influence the selection of pet health insurance.
Pet Assurance at Its Best
Pet assurance offers many attractive features like coverage for all pets irrespective of their age, medical condition or any pre-existing conditions. The waiting period required is very minimal and moreover you need not necessarily fill in the claim forms. The best thing about an assurance plan is that there is absolutely no amount of deductibles involved. As far as assurance plans are concerned there are no particular limits for receiving maximum coverage.
Coverage for medical expenses under assurance plans for pets includes routine procedures as well as spays or neuter care. Treatment of pets with cancer also gets coverage under the pet assurance plan. Hospitalization expenses are also included without the pet owners having to pay any extra money. One of the drawbacks in an assurance plan is that the veterinarian involved in treating the pets should be within the network area of the assurance company.
Why Go For Pet Insurance
Pet health insurance on the other hand is relatively costlier with various features like claims, benefits and deductibles that vary considerably depending on the type of coverage plan you choose. The waiting period is generally about two weeks and an average of about 80% of eligible expenses should be taken care of by the pet owner after duly filing a claim form. As far as deductibles are involved, it is about $50 per incident for most insurance plans.
In case of medical expenses, one can claim the expenses only if the eligibility criteria are met. Treatment for specialty cases like cancer is very limited and additional amount (usually $99 annually) has to be paid even for routine treatment procedures. For the neuter or spay routine there is a 65% reimbursement offer. The maximum limit depends on the whether it is per incident, annual or lifetime category. The veterinarian can be any registered practitioner.
Choosing the Right Plan
At the outset when you compare assurance and pet health insurance plans, the former will seem to be more beneficial in terms of money and time saved. But when you look closely no particular plan can be opted as the right one for all pet owners in general. The needs and conditions vary from individual to individual. You can compare the various benefits and actual cost of both pet insurance plans as well as the pet assurance plans with the help of several comparison charts offered by many related websites.
Whether you decide to go for an insurance or an assurance plan just make sure that it is right for you and your pets needs.