A Complete Guide For Your Pet Health Insurance for 2021

As a pet owner we always have an attachment towards them and we also have them visited regularly to vets for ailments and check their well being on a regular basis. Pet owners might also think to have an idea of having insurance for their little pets to cover their costs. But, like lot of insurance plans out there pet insurance may also be a little bit confusing, in this article we will be covering the pros and cons of having a pet health insurance and whether it is beneficial for you or not. First lets start of with the basics.

What Is Pet Health Insurance?

Pet health insurance is a type of property insurance that protects the financial well being of the pet owner, there are a few key points about pet health insurance. First there is generally a deductible, so the deductible is the amount of money that you pay out of pocket before the insurance kicks in and before the insurance company pays you for a portion of the vet bills. So, for example if you have a $500 annual deductible then you are responsible to pay $500 out of pocket before the insurance coverage kicks in.

Once you meet the deductible then you will have the co-insurance.So, co-insurance is typically when your insurance provider and you are both responsible for paying a portion of your pets vet bill. Typically a insurance company will pay around 80% of the bill and you are still responsible for the 20%, it is very surprising that only 2% of dog owners and 0.5% of cat owners carry pet health insurance.

A Complete Guide For Your Pet Health Insurance for 2021 | Pet Health Insurance USA | Pet Insurance Providers USA

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What Does Pet Health Insurance Cover?

Pet health insurance can be classified into three different buckets

  • Wellness
  • Accident and Illness coverage
  • Comprehensive coverage

Wellness care : Annual vet visits, flea and tick treatments will be covered in this

Accident and Illness coverage : All the emergency visits, when a pet is stung by a bee or swallowed an empty balloon

Comprehensive coverage : This covers accident, wellness and any illness of your pets

There are a plenty of insurance companies out there which offer these type of coverage and there are three biggest companies  which provide pet health insurance

  1. Nationwide
  2. Trupanion
  3. Healthypaws

The marketplace for health insurance is rapidly growing, there are lot of new companies and startups coming into this market few of them are PetsBest, Embrace, Figo, Petfirst, Petplan.

How Much Does Pet Health Insurance Cost?

Cost of insurance depends on variety of factors generally dogs cost more than cats.

  • Age of the pet
  • Breed of the pet (certain breeds are more prone to illness)
  • The area you live in

The average premium for accident and illness coverage is around $516 per year, if you have a big dog then the premium will be more, for cats its a bit low when compared to dogs.

Things to look out when buying a pet health insurance

  • Does this cover the right things?

In the U.S 985 of the pet health insurance policy holders have accident and illness coverage

  • Will rates change in the future?

Rates may increase if your pet makes a claim in a given year

  • Does the coverage treat chronic conditions?

Especially if you have a pre-existing condition with your pet it could mean you will have a higher premium & not every insurance covers it.

  • What is monthly premium costs? 

Generally higher the premium then lower will be the co-insurance you will have

It´s very cost beneficial if you have a pet health insurance, this will avoid you into getting unnecessary debts which occur when your pet gets hospitalized if there is an emergency. As long as you are looking for a best deal then pet health insurance can be very cost effective way to make sure you and your loved pet are protected.




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