Understanding the Types of Pet Health Insurance

Pet insurance is a popular alternative to paying high vet bills when caring for a pet. Insurance for a pet, also called pet health insurance, is a viable option if a pet becomes injured or ill. However, many people are unsure what type of pet insurance to get. Before a pet owner tries to find and review pet insurance companies online, it’s important to understand the types of insurance available.

What is Catastrophic Pet Insurance Coverage?

A catastrophic pet insurance policy is typically the least expensive type of policy. However, there is a tradeoff. It has the least overall coverage and the highest deductible. The reason catastrophic pet insurance is offered is because a pet parent wants to prevent an inability to pay if a catastrophic injury or illness occurs.

This type of insurance doesn’t cover routine veterinary exams or visits. It also doesn’t cover smaller health issues such as a virus. It is best for circumstances where the needed treatment costs thousands of dollars. It would kick in after the pet parent meets the high deductible.

What is an Emergency Pet Insurance Policy?

An emergency pet insurance policy is often called a “basic” or “entry level” health insurance policy for pets. It is less expensive than other policies. However, it doesn’t provide a lot of coverage. Like the catastrophic pet insurance policy, it has a high deductible. It is a good health coverage option to cover serious injuries and conditions such as a pet being hit by a car. This type of coverage is better for a pet parent who has a small budget but needs to protect their pet.

What is Full Coverage Pet Insurance Policy?

A full coverage pet insurance policy is often referred to as the “top tier” or “premier” policy. It covers well-pet visits, vaccinations and coverage for injuries and illnesses. The policy generally provides more coverage per incident. Just because the insurance is the most expensive doesn’t mean that a pet parent can’t find affordable coverage that provides full protection for their pet.

Learning about Pet Health Insurance Coverage

One of the biggest misconceptions about pet health insurance is the cost. It is not too expensive to pay for health insurance for pets. Finding the right health insurance is the most important factor in determining the most affordable health insurance plan. Pet insurance is the best option because it takes the option out of trying to pick the least expensive option when caring for an injured or ill pet.

When searching for pet insurance, take into consideration multiple factors. One factor is the maximum pay of the insurance. This is the amount of money the insurance provider will reimburse the pet parent. Another thing to look at is the deductible. Just like insurance for humans, it’s important to determine if a pet frequently goes to the vet for illnesses. Co-pays are also important. A co-pay is the amount of money a pet parent must pay for services such as examinations and tests.

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