Before deciding the pet insurance policy we need to take into account few of the important points which help us in deciding the suitable policy.
- Age of pet matters most
The insurance policies mainly depend upon age of your pet. Most of the policies are for the young pets and it is difficult to find suitable policies for older pets and it is because older pets are prone to diseases and require treatments. Most insurers prefer younger pets below the age of 8 years.
- Get Life time policy
The best way to get pet insurance for your pets is life time insurance policy when the pets are young. Of course the life time policy is not cheapest one but it covers the pet for life time and also covers any long term illness too.
- Cover for pre-existing conditions
The pet insurance policy is taken along with the pre-existing conditions. Without any pre-existing condition, the policy will be considered as void. Some of the insurance companies do not offer cover to the pre-existing conditions.
- Swapping policies
Switching or swapping policies is possible only according to pre-existing conditions. For the annual policies or for life time policies, the reason to swap the policies is the increased premium. But the premium gets increased due to the claim made and once you make the claim, either you have to get a new policy from other insurer or you try getting cover for the treatment given for the existing condition.
- Excess fee
The excess fee is the amount you pay at the beginning while deciding the policy and claim later. For some insurance policies the amount to be paid as excess is based on percentage and for other policies it is part of flat rate. It is also called co-insurance excess and can be expensive, while paying for big vet bills. While selecting a policy for your pet, choose the one with minimum excess to be paid at one time. Also make sure that excess rate doesn’t go higher as your pet grows older. There are low cost insurance policies with low premium but higher excess fee. Always choose the right policy so you will have limited excess.
Have a good deal
- Always buy the insurance when your pet is young and healthy. Finding insurers for older and unhealthy pets is very difficult.
- Never choose a policy which covers vet bills only for one year. Then you may not find insurers who will be ready to cover the vet bills for life time.