“Look very carefully at the fine print so that you’re not surprised when you file a claim and find that it’s denied,” says Consumer Reports editor Tobie Stanger, as reported by NBC News.
Find out whether or not your vet is included in the network of providers of the plan you purchase. Many pet owners purchase pet health insurance, only to find that their vet of choice isn’t in the network they’ve chosen. So talk to your vet about which policies they accept.
Five Factors to Consider
ASPCA pet health insurance says that there are five things to consider when buying a pet insurance policy. The first of these is how much the plan actually costs. “Unlimited plans” cost more than other plans. However, you may not need this type of plan. For example, ASPCA says that just 0.5 percent of their customers hit limits. Therefore, they say that you need to decide whether a higher-priced plan is worth the dollars spent.
Second, know what will be covered in the way of reimbursements. They advise those researching pet insurance to steer clear of plans that “limit injury and illness payouts by using a benefit schedule, incident deductibles or exam fee exclusions.” Under these conditions, costs can rack up.
Third, know if wellness coverage is included in the plan you’re considering. Plans may not pay for your pet’s annual vet visits. So you need to know to avoid frustrating surprises when it comes time to pay your bill at checkout each year. Does the plan you’re considering cover shots and exams? Or does it kick in only in emergency situations? If wellness exams are covered, what portion will you be expected to pay, if any?