As emergency vets, time and time again we are reminded of how crucial it is for pet owners to invest in a solid pet insurance policy in case their beloved cat or dog falls ill or is involved in an accident. But with so many options now available, how do you know if you’re choosing the right cover for your pet? Read on to find out a bit more about what you should be looking for in your policy.
Threshold for vet fees
Like any insurance policy, all pet insurance options will detail the maximum amount of financial cover it will provide to you for vet fees. This is usually dictated in the following ways:
$ per year for life – a set amount of money used to cover all conditions per year. Once you reach this monetary threshold, you will not be able to claim any more until you renew your policy the following year.
$ per condition per year for life – a set amount of money used to cover each specified condition per year. Once you have claimed this amount of money for a particular condition, you will not be able to claim any more until you renew your policy the following year.
$ per condition in total – a set amount of money used to cover each particular condition. Once you exhaust the cover for each condition, your policy will no longer provide any cover for that particular condition at all in the future.
Before investing in insurance, it’s important to consider that services such as emergency vet diagnosis, treatment and surgery can be very expensive, and therefore can quite easily exhaust the specified amount of cover your policy provides you with.
Is your pet covered for hereditary and congenital conditions?
A good policy will provide you cover for conditions that your pet has had since birth (congenital) as well as illnesses that they may develop throughout their life due to characteristics they have inherited (hereditary). Although sometimes these options are slightly more expensive, it’s a good investment that saves you stress and money if your pet falls ill in the future due to pre-existing factors.
Pay attention to:
- Any restrictions in the maximum age of your pet.
- Exclusion periods that don’t allow you to claim anything on your policy for a certain period of time after you initially purchase it.
- The amount of excess you are required to pay for each claim. A set excess fee, such as $200 for example, is usually a far better option than a policy that requires you to pay a certain percentage of each bill you claim cover for. As vet bills are known to run quite high, this percentage can easily exceed the few hundred dollars you might be required to pay for a set excess policy option.
Overall, investing in pet insurance is a great way to ensure that you don’t have to endure the stress of finding the money to treat your beloved cat or dog if they become sick or injured. With a range of different policies available in Australia, finding the right option for you is now easier than ever.
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