What is a good pet insurance?

What is the average cost of pet insurance?

• Answer:

  The cost of pet insurance has many variables so it is hard to specify. Variables include: 1. The insurer 2. The animal species (dog, cat, bird, other) 3. Location 4. Age of pet 5. Health history of pet, including preexisting conditions 6. Amount of coverage desired (most companies offer tiers of coverage, each providing different policy limits and levels of coverage) In purchasing coverage, it is important to distinguish between true insurance and discount plans. Insurance pays a specified amount for or toward a covered procedure, thereby indemnifying the owner for that expense. In contrast, a discount plan is an arrangement whereby the veterinarian has agreed to offer to members of the plans a specified menu of services at lower fees than those usually charged. With a discount plan, the plan does not itself assume any risk-the client is totally responsible. It is also important to make sure that the pet insurer that you are considering is a licensed insurer. Note that the product name of the insurance plan may be just that-a product name. Therefore, you must determine the identity of the company that is financially responsible for the payment of claims, and ensure that it is a licensed insurer. You can determine that by contacting the office of the insurance regulator in your state and ensuring that the company is authorized to transact business there. Finally, before purchasing any sort of plan, make sure that your veterinarian accepts it.