Pet insurance is an insurance policy that helps cover a portion of your pet’s health care costs. It allows you to give your pet the best possible care without worrying about financial burdens when they are ill or injured. There are a number of different pet insurance policies available from a variety of providers. Some are designed for accidents, some are for illness coverage, and others are wellness plans. Each type of plan has its own benefits and costs, but all can help you reduce the stress of caring for a sick or injured pet.
Why Is Pet Insurance Worth It?
Pet owners and veterinary professionals alike agree that pet insurance is an excellent tool to have in your toolbox. While not everyone may need it, it can be a lifesaver in the event of an emergency or an illness that requires substantial treatment.
Most pet insurance companies offer a choice of accident and illness or accident-only coverage plans, as well as optional riders that add coverage for things like microchipping or end-of-life expenses. A few important factors to consider when shopping for a pet insurance policy are the deductible, reimbursement rate and limits.
Deductibles are the amount you must pay out-of-pocket before your pet insurance provider begins to reimburse you for a vet bill. The highest-rated pet insurance companies will typically reimburse 80% to 100% of your total vet bill, after the deductible is met. Limits are the maximum amount that your pet insurance company will pay in a year for a single illness or injury. When you hit your annual limit, you will be responsible for paying until the limit resets.
When choosing a pet insurance plan, it is best to purchase the policy when your pet is young and healthy. Premiums generally increase as your pet ages, so purchasing when your pets are younger can save you money in the long run. Also, by purchasing when your pets are young you can avoid them developing any conditions that would be considered pre-existing and therefore not covered by your pet’s health insurance plan.
GEICO is proud to partner with Embrace and Trupanion to help make it easier than ever to get affordable pet insurance. These policies are underwritten through non-affiliated insurers and not GEICO Insurance Agency, LLC. Please review the privacy policies of these third parties before submitting any personal information. To learn more about a specific pet health insurance product, visit the provider’s website.