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November 19th, 2008 by PetGuru

Most people are familiar with healthcare insurance for themselves and their family but what about their pets? Pet insurance is a new idea in insurance to help cover the four-legged members of the family. Granted, your workplace may not cover the insurance but it is very valuable to have in case your pet becomes sick. Routine veterinary care may not be expensive but if your pet was to become sick or injured, costs could quickly mount up and be beyond your ability to repay. The old adage of “better to be safe than sorry” is very true when it comes to insurance. It is better to have it and not need it than to find yourself with a sick pet and no way of paying the vet bills. Most people are unaware or inexperienced when it comes to pet insurance but this article will cover some of the basics when it comes to what to expect in pet insurance.

How much can I expect to pay for insurance?

Pet insurance rates, much like our insurance rates, will vary according to each person. Some insurance carriers decide the rate of their plans based on the person’s credit score. Other underwriters do not use this method to determine the amount the insurance holder will need to pay each month. The average plan will run around $30 a month for a dog and $20 a month for a cat. There may be additional fees that vary according to the insurance underwriter. Always make sure and check the information before you buy the insurance policy. If you have any questions make sure and call the insurance company. If the wait is an impossible amount of time or they seem vague on their knowledge, go to another company. If they are that horrible with potential customer concerns imagine what they would be like if you were a customer.

Do all vets accept pet insurance?

Pet insurance works differently than typical healthcare insurance. You do not have to worry about finding a provider in the network or worry about whether or not your doctor accepts the insurance. All you have to do is pay for the procedure and then file a claim with the insurance company. The upside is being reimbursed for a percentage of the procedure. The downside is paying so much out of pocket initially and having to wait for the insurance to send you a check.

How much out of pocket will I be expected to pay if my pet needs surgery?

Unfortunately the downside to pet insurance is that you will have to pay for the entire amount out of your pocket before the insurance company pays you a portion back. When you take your pet in for surgery you will need to take along a claim form that the veterinarian will complete. After completing the form and filling out the claim information, along with attaching copies of the receipts and invoices, you will mail or fax the information to the insurance. After reviewing the information the insurance company will mail out a check for the amount of the procedure they cover.

Some veterinary clinics will make payment arrangements with you in case of an emergency. If you have a long history of good payments to your vet, you can discuss this at a visit. Chances are high that he or she can work with you. The ultimate goal of both you and the vet is a healthy and safe pet.

Is there a limit on what my pet insurance will pay out?

Yes, there is a limit on how much of the procedure is covered by the insurance company. This amount varies depending on which insurance plan you select, what your deductible is and how much the actual procedure runs. When you sign up for pet insurance the company will provide you with a list of procedures they cover along with how much per procedure is covered.

Can I buy my pet’s medications online and then be reimbursed for the expense by the insurance company?

All FDA approved medications will be reimbursed. All you have to do is include the receipt from your purchase of the medication, fill out a claim form and submit the information to the insurance company. The insurance company can provide you with the allowed amounts they pay for medications.

To find out additional information Low Cost Pet Insurance also click here Met Life Offers Pet Insurance similarly Vet Pet Insurance