What to check before you but a Pet Health Insurance Policy.
Yes the policy will be wordy and everyone knows that trawling through it for small details is a pain. But consider the downside: if you happen to rely on something you thought was in it it could cost you thousands. Then perhaps you'll spare that half an hour going through it to ensure it exactly meets, or surpasses, your needs.
If you were sure that it covered existing ailments and when you came to claim for a course of treatment, found out that it did not, what can you do about it. The answer is nothing.
So go through the following list and make sure that if you require the item that the policy you're investigating actually covers it.
- Ensure they cover genetic or pre-existing illnesses. Many insurance companies will not cover illnesses that your pet had before the policy was taken out. In addition they may not cover associated illnesses. If your breed of pet is susceptible to a certain condition then that could also be excluded from any claims.
- Apart from the excess on the policy (which is the amount you have to pay before the insurance kicks in) some policies will only pay a certain percentage of the bill. While this may not be a bad thing as it keeps premiums down, make sure the percentage is one you are happy with.
- Make sure that you are happy with the amount of insurance that will be paid out in any one year or for any one illness. There is often a cap on the amount paid out by the pet policy.
- Does the policy cover dental problems.
- Will you be reimbursed for prescription drugs.
- Lab work can be expensive, blood tests, scans etc. is this included.
- Some policies will only offer reimbursement of expenses for so long into an illness. For example they may stop paying after 6 weeks of treatment. If you think you'll need more then ask for it before signing up.
- Does the plan cover conditions that reoccur.
- Make sure your policy does not cover anything that you do not want. Some people may have no interest in the "lost and Found" element of a policy. If you do not want it and it's included then you are paying too high a premium.
- How long does the company take to pay a claim.
- WIll premiums rise if you do make a claim.
Keep the list above in mind when picking your pet health insurance policy and avoid costly omissions.
Try to get the policy while your pet is healthy and then any decisions to do with treatment can be made on the basis of what is right and not what you can afford.