I Can't Afford the Premium

I read your pet insurance guide and followed your recommendations, but I can't afford the premium of a comprehensive pet insurance plan. What can I do?

The premiums for comprehensive plans are more expensive because of the amount of coverage they provide.

You have a couple of options:

  1. Try increasing the deductible and/or decreasing the reimbursement percentage, if applicable.

    If you choose a high deductible (e.g. $250 or more), make sure it is an annual deductible not a per-incident deductible or the insurance may never kick in.

    Remember, even if you get the premium within your budget using this technique, the premium can increase over time due to age, inflation, etc. Make sure you take this into consideration.
  2. Remove the Routine and Wellness portion of the plan. Routine and Wellness care refers to preventive procedures such as vaccinations, annual exams, heartworm testing/medications and spaying/neutering. Many people find that they can budget for these procedures and pay for them out of their own pocket.
  3. You could entertain the idea of an "Accident Only" policy, but make sure you read this first before you do.
  4. Look into one of the alternatives to pet insurance.

NEXT: What About Accident Only Policies? »