Pet Insurance Guide

Summary of Key Points

  1. Do not pick pet insurance based on cost. Pick it based on the coverage it provides.
    (Lesson 5)
  2. Use pet insurance like you do any other a way to give you a peace of mind against unexpected, high costs. Do not buy it with the expectation that you will save money as this is not always the case.
    (Lesson 3)
  3. Pet insurance is similar to human health insurance in its use of deductibles, co-pays and maximum payouts.
    (Lesson 2 Pt. 1)
  4. With pet insurance you pay the veterinary bill directly to the veterinarian and then you are reimbursed by the pet insurance company after you file your claim.
    (Lesson 2 Pt. 2)
  5. With pet insurance you can visit any licensed veterinarian in the US. Some plans also allow you to visit a licensed veterinarian in another country while traveling.
    (Lesson 2 Pt. 2)
  6. Before you buy pet insurance, determine if you need it.
    (Lesson 4 Pt. 1 - 3)
  7. Make sure you pick the right Maximum Payout structure. Calculate your "Worst Case Scenario Costs" and pick a Maximum Payout structure based on it.
    (Lesson 6)
  8. If possible, pick plans that have:
    (Lesson 7)
    • Coverage for Cancer
    • Coverage for Hereditary & Congenital Diseases
    • Coverage for Chronic Disease
    • Continual Coverage for Chronic Diseases
    • Coverage for Medical Conditions Common to your Pet's Breed & Species
  9. Make sure you understand the Additional Things you Need to Know Before you Buy Pet Insurance.
  10. Never buy pet insurance without doing your research.
    (Comparison Fact Sheets)
  11. Read the written policy of the pet insurance company. Make sure you understand all the exclusions and requirements listed in the policy.
  12. Do not wait until your pet has an illness or injury before you buy pet insurance as it will be considered a pre-existing condition and will not be covered by your policy. Get pet insurance as early as possible.

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