Pet Insurance – Compare Pet Insurance Policies and Quotes: Do you care about how to compare pet insurance policies and quotes? If your answer is yes, here is a post that teaches how to compare pet insurance policies and quotes. Continue reading below:
A lot of factors determine your choice of a pet insurance plan. Unlike most other types of insurance that have coverage content standardized by the state/province (home, car, etc.) pet insurance does not.
Pet insurance policies can vary significantly by company. Each company designs its own policies and the resulting premium is determined by actuaries.
Pet Insurance – Compare Pet Insurance Policies and Quotes
First, you should not buy pet insurance based on price only; you need to understand what goes into the premium. With pet insurance, there are several factors that you can’t control that will impact your quote and the coverage provided. These include:
Where you live:
It costs more to care for a pet in some areas of the country. Example: If you live downtown in a major urban center, the cost of veterinary care is usually more expensive since the clinic likely has higher rent than a rural clinic, and they’re likely paying higher wages to their staff due to the cost of living.
Species of your pet:
Cats cost less to insure than dogs.
Some breeds are known to have higher medical costs than others.
Age of your pets:
Similar to medical-care costs for humans, pet medical-care costs increase with age as your pet goes from a puppy or kitten to adult dog or cat to senior dog or cat.
There are also some factors that you can control that will impact the premium. These include:
The deductible you select:
The higher the deductible, the lower the premium usually is.
Whether the deductible is annual or per-incident:
A per-incident deductible should have lower premiums.
The co-insurance you select:
The more that you contribute to the cost, the less the premium will be. For example: If you choose 90% reimbursement (you contribute 10%), you will pay a higher premium compared to what you would pay if you chose a 70% reimbursement (you contribute 30%).
The annual limits you select, if offered:
Some plans have unlimited coverage and others restrict the total amount to be paid back in any given year. The higher the annual limit, whether you use it or not, the higher the premium.
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