Buying a pet insurance policy: Getting Started

Every six seconds a US pet owner is
faced with a $1,000 vet bill

How can you protect yourself from the next large vet bill?

Did you know that one in three pets will require unexpected veterinary treatment this year?

Although it is a cost every caring pet owner willingly pays, bills can run to hundreds even thousands of dollars. More people claim on their pet insurance than on any other form of insurance. The reality is that pet insurance is something that pet owners today cannot do without. A number of companies offer cheaper pet insurance policies but the lower premiums come at a cost - restrictive cover with many exclusions .

You may want to consider the following questions before buying a policy for your pet:

Does the policy cover hereditary conditions?

Most U.S. pet insurance companies automatically exclude hereditary conditions or offer very limited coverage. Petplan will cover such conditions with no time or dollar limits per condition.

Is there a time limit for treatment per condition?

Some pet insurance companies will only pay for an illness for a maximum of 12 months, and on renewal classify the condition as pre-existing. Petplan offers a Covered For Life guarantee that means that any ongoing illness that your pet develops after you have taken out a Petplan policy, will be covered in subsequent years provided that you renew your policy with us each year.

Is there a dollar limit per condition?

Beware of some policies that will only pay up to a specified amount in veterinary fees for any illness or injury. Check the maximum benefit for veterinary fees and whether this amount is reinstated yearly, or whether there is a running total per condition. Most of the pet insurance companies in the U.S. offer maximum benefit policies , which means that you may run out of cover.

Petplan offers simple annual limits that replenish each year - so you never have to worry about running out of cover.

How well established is the company?

Over 60 pet insurance companies have gone out of business in the US and only a handful have managed to survive more than a few years. Can you afford the risk of purchasing a policy from a company that may not be there when you and your pet need them most? Make sure that the company you select is well-established with a solid track record of covering pets and paying claims.

In the US Petplan is underwritten by ANPAC, an AM Best A+ (Superior) rated insurance company providing policyholders with the peace of mind that when it comes to claiming Petplan will be there for them.

Is there a choice of coinsurance?

Some companies only cover up to a maximum of 80% of claims leaving you to pay the rest. Petplan offers you the choice of whether to accept a coinsurance option or whether to opt for 100% reimbursement.