Pet insurance, also known as veterinary insurance or pet health insurance, provides reimbursement for veterinary treatment. Owners pay a premium to an insurer in return for coverage of specified medical costs associated with illnesses and injuries.
How Pet Insurance Works
Typically, owners claim against their policy after taking their pet to the vet. The vet invoices the owner for their fees and sends a claim form to the insurance company. The pet insurer then decides whether or not to reimburse the owner after checking if all procedures were within policiy guidelines. What is returned varies from policy to policy. Still, it typically includes veterinary fees, hospital stays, and prescription medication.
Top Pet Insurance Benefits
Pet insurance has numerous advantages. Here are some of the benefits pet owners stand to reap from insurance.
Pet insurance allows you to seek treatment for your pet without worrying about the costs involved. Many owners cannot afford veterinary fees and so put off treatment until their pet’s condition deteriorates further, increasing the cost of treatment and putting their pet at risk. Insurance is particularly valuable for young pets not yet eligible for pre-existing condition exclusions.
Depending on your preference and budget, you can choose to pay your premiums monthly rather than annually or quarterly. Most veterinarians also accept direct debit from most insurers, so you do not even have to worry about making a payment every month! The charges are often pre-authorized from your account, so it’s as easy as making a credit card or debit card payment.
Considerations for Pet Insurance
Many pet Calgary insurance brokers do not exclude pre-existing conditions if they are insured before developing any symptoms. Meaning you can ensure your healthy pet at a very low cost and then be covered should they acquire a condition later down the track.
Some insurance companies set limits on how much they will pay for your pet’s health care each year. If this limit is met, further treatment is excluded from the policy even if you still have money left in your account. Most pet insurance policies do not restrict annual payments or require that you reach a certain limit before any more benefits are paid out. Meaning you know your maximum liability and can budget accordingly.
Many pet insurance companies offer an ‘excess waiver.’ This means that if you take your pet to the vet for treatment and are liable for excess, the company will pay it for you. Usually, this is only available once per condition, so it’s important to check your policy details. You can also choose not to insure your pet if you find a good deal without an excess charge!
Some pet Calgary insurance brokers have limits on how much they will pay out in total over the lifetime of the policy or during a calendar year – usually around $10,000 or $20,000, depending on age and other factors. Others offer unlimited lifetime cover, which means you never need to worry about making a claim.
Pet insurance is affordable protection for your pet. With so many financial and emotional benefits, it’s not surprising that pet insurance has become one of the fastest-growing sectors of the insurance industry. With pet insurance, your pet can get the treatment it needs when it needs it most. Choose the best Calgary insurance brokers to help you find the most comprehensive pet insurance.
Lakeview Insurance Brokers Ltd. has been a highly dedicated member of the Independent Brokers Association of Albert and has been family-run since 1979. Our brokers take the time to ensure you get the best policy that suits your needs. Contact us today to get started at 403-287-2521 or send an email to [email protected].