You will still need to pay your vet bill yourself upfront. You then submit your receipt for reimbursement.
Jump to insightMost policies cover accidents, illnesses, cancer, hereditary or congenital conditions and chronic illnesses.
Jump to insightMost policies don't cover preventive health, including flea and heartworm treatments.
Jump to insightWhat is pet insurance?
Pet insurance is a policy purchased by a pet owner to mitigate the overall costs of veterinary bills. Most pet insurance policies allow you to use any licensed veterinarian or specialist within your coverage area. This means that if your pet insurance is available nationwide, you can use a vet in any state, even if you are traveling.
Unlike some health insurance, pet insurance companies use a reimbursement model. You will need to pay for vet services upfront and then submit a claim to your pet insurance company. Most companies aim to reimburse expenses in a few days, but complicated cases could take longer. Stefaan from Florida filed a $51 claim for his cat and said that the claim process was tedious and “a frustrating saga that took more than 4 weeks, nearly 30 days” for him to be reimbursed.
Types of pet insurance
There are a few types of pet insurance plans available for different prices — options range from accident-only coverage to comprehensive plans. Some providers offer add-ons for routine care, vaccinations and other common expenses.
- Accident-only plans kick in when your pet is injured in an accident. Each insurance company sets its own rules about what qualifies as an accident, but most cover car accidents, bites, cuts, torn ligaments, poisoning, foreign bodies and bloat. This coverage is usually affordable and offers a basic level of protection against the unexpected.
- Accident and illness coverage includes everything you'd find in a typical accident-only plan, but the plans also typically cover chronic illnesses, hereditary conditions, congenital illnesses, cancer and other diseases. With this plan type, you may still pay for things like diagnostic tests and routine care. However, this is a good option if you only want coverage for the most expensive treatments your pet might need.
- Comprehensive coverage typically helps pay for treatment for accidents, illnesses, diagnostics and alternative therapies. Depending on the company's list of covered services, this may include cancer treatments, surgeries, hospitalization, prosthetics, orthopedic care, imaging, diagnostic tests, specialist visits and prescriptions. Comprehensive pet insurance typically doesn't cover wellness costs unless you choose to add on routine care coverage.
Pet insurance coverage ranges from accident-only to comprehensive and includes add-ons.
Some insurance companies offer policy add-ons or wellness-only plans that cover routine care, including things like exam fees, annual vet visits, flea and heartworm treatment, vaccinations and microchipping. If you take your pet to the vet frequently, this coverage reduces your annual pet care costs, especially if your pet is young or elderly and requires frequent visits.
What is covered by pet insurance?
While coverage varies based on the type of plan you choose, you can expect most pet insurance companies to cover the following:
- Broken bones
- Swallowed objects
- Diabetes
- Heart disease
- Eye injuries
- Arthritis
- Infections
- Surgeries
- Diagnostic tests
- Lab work
- Medications
- Hospitalizations
- Cancer
It is important to check your specific policy for the complete list of covered treatments.
What is not covered by pet insurance?
While there may be a few insurance companies out there that will cover these issues, most policies don’t.
- Preexisting conditions
- Cosmetic procedures
- Spay/neuter
- Breeding/pregnancy
- Euthanasia
Additionally, some policies will not cover older animals or exotic animals outside of the typical dog, cat or horse varieties.
Dr. Linda Simon, a veterinary surgeon on the veterinarian consult team for Fetched, a dog supplement company, said: “The smartest thing an owner can do is to take out their insurance policy before their pet sees the vet. This means any condition found will be covered. Too often I see a puppy or kitten, diagnose an issue, like a heart murmur or hernia, and this will then be classed as ‘preexisting’ and won’t be covered by your insurance.”
How long is a pet insurance waiting period?
Pet insurance companies typically have waiting periods for specific treatments after signing up. Accidents usually have the shortest waiting period, from a couple of days to two weeks. Waiting periods for illnesses average around two weeks as well. Serious conditions and orthopedic treatment may have a much longer waiting period of six months to a year. Check with your insurance provider to see which waiting periods apply to you.
FAQ
Is pet insurance worth it?
Pet insurance can be worth it, especially if you have a costly pet emergency or illness that requires many visits and medication. For pet parents who only use the vet for routine visits, however, insurance might not be worth the monthly price tag.
How much does pet insurance typically cost?
The cost varies depending on factors like your pet’s breed, age, health status and the type of coverage you choose. We’ve seen policies starting as low as $15 to $19 per month and as high as $100 per month.
Are there any alternatives to pet insurance?
Yes, options like self-insuring, where you set aside money for potential vet expenses, or using credit specifically designed for healthcare expenses.
Bottom line
Pet insurance helps cut the cost of major veterinary expenses, but what’s covered varies based on the policy you choose. Policies range from basic accident coverage to plans that cover every aspect of your pet’s health. Compare policies from the top pet insurance providers to find a plan that meets your budget and matches the needs of your pet.
