What You Need to Know
What You Really Need to Know About Pet Health Care Insurance
Before you decide to purchase a pet health care insurance plan, check the list of the company’s approved veterinarians to see if your veterinarian will accept the companies check. Ask your vets advice on what type of pet health care insurance plan would best suit your family pet. Also ask your local veterinarian to read over the plan and listen to any advice they may offer. Your local veterinarian may also be able to help you establish if the insurance company you are considering purchasing your pet health care insurance plan from is reputable.
Before you pay for a pet insurance plan, you will need to have a careful read of how the policy deals with prescription coverage. Most companies that sell pet health care insurance do not include prescription coverage in their basic medical health care insurance plan. If you are worried about the cost of any prescription your pet might need during the course of its life, you should probably think about buying a prescription coverage rider to complement your pet health care insurance. Although this rider may seem to be expensive and an unnecessary outlay, you will probably wish, in hindsight, that you had purchased it if your pet is ever given a prescription for an illness or condition. Just like our own prescriptions, the pet variety can also be very expensive. 
One thing you need to take into consideration when purchasing a pet health care insurance plan is the deductible. The deductible is the amount of money you pay out-of-pocket for veterinarian services rendered that your pet health care insurance plan does not cover. Different pet health care plans require different deductibles. The higher a deductible you choose, the lower your monthly payments to the insurance company but the higher the deductible, the more out-of-pocket you are each time you visit the veterinarian.
Most pet insurance companies have a “cap” or limit placed on each pet health care insurance plan. This cap varies from one procedure to the next but a broken leg, for example, will probably have a different cap than say, cancer treatments. Before you purchase your pet health care insurance plan talk to the company representative about waiting periods. Find out exactly how long it will take for the policy to take effect and how long the waiting period for claims to be reimbursed is. Most companies have a ten day period between the time they receive the vet bill to the time the check is mailed out to you. Also find out how the refund is processed. Does the pet health care insurance company pay the veterinarian directly or do you have to pay the vet and the company mails the check to you when they receive the bill?
If you do have a conversation with a pet insurance company representative, whether it be on the phone or in person, ask them about any and all exclusions that might be included with your pet health care insurance plan. Specifically, ask about any and all pre-existing conditions and hereditary defects that may come up later in your pet’s life. Many pet owners, especially those that have dogs, discover that hereditary defects are common later in life with some particular breeds of dog and these may not be covered by their pet health care insurance plan. Some companies will allow you to cover these potential problems with an additional rider. In some cases your veterinarian may be able to advice you about any exclusions.
