How to Find the Right Pet Insurance Plan for Your Puppy

Your dogs, cats, birds, and other pets can be quite expensive to take care of. You’re willing to go through all the trouble though because of the joy they bring you. But what about the times when they’re sick? They need professional help, but vets cost money – a lot of money. How do you possibly manage all of the vet bills? This is where pet insurance can help you.

Talk To Your Vet

One of the best recommendations for pet insurance will come from your vet. When you look through various pet insurance plans, look for something that is mostly comprehensive from a company that’s been around for at least 10 years.

In general, there are two types of pet insurance companies: admitted and non-admitted insurers. Admitted insurers are regulated by the state insurance commissioner. Non-admitted insurers are not regulated. That means that the policy being issued to you has not been approved by he state’s insurance department.

On the face of it, this might sound like a riskier way to insure your pet. It can be, but most insurers, even non-admitted insurers, adhere to the same basic rules and principles of insurance. The true test of solvency is the company’s financial rating. Choosing an admitted company with a lower financial rating than a non-admitted company with a higher financial rating is always a riskier bet.

Non-admitted companies exist primarily to offer insurance that admitted companies cannot. Because admitted companies are restricted from charging premiums higher than a certain dollar amount, they cannot take on adverse risk clients. If your pet is a “high risk” pet, your only option may be a non-admitted company.

Do Research Online

Lurk around on Internet forums, and use Google (and other search engines) to see what you can dig up. Read through reviews of vets in your area. You’ll have to spend a fair amount of time reading through forum posts and reviews. Keep in mind that there’s always going to be complainers. Sometimes, there’s going to be a lot of people complaining about a particular insurer.

That doesn’t mean that the insurer is bad. It means they have complaints. Try to find out how those complaints were resolved, how serious they were, or if it sounds like the person complaining is being unreasonable or expected more than what was actually promised by the insurer.

Remember that insurers need to make money too, and that many people expect to receive more than what’s in the contract. While your insurer should fully honor everything it promises, it’s unreasonable to expect that you will get more than what your contract entitles you to.

Talk To Other Pet Owners

Referrals are an excellent way to find a good pet insurance company. Other people who have been through the hoops, cut through the red tape, and have been burned by companies are probably your best source of information. Every company has its strengths and weaknesses. What you need to do is hook yourself up with pet owners with pets similar to yours. Find out who they currently use, and why, and consider signing up with their company.

Anthony Jensen is an animal caregiver. He frequently writes for pet blogs to help owners understand responsible care for their animals.

 

Category: Family Finances, Insurance