Pet Insurance
A Wise Investment in Your Pet's Well-being
Investing in pet health insurance is a proactive step toward ensuring a long, happy, and healthy life for your furry friend. Remember, a healthy pet is a happy pet!
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What is pet insurance?
Pet insurance is a service for pet owners seeking a financial safety net in case their animal gets sick or injured and requires expensive veterinary treatment. Owners of dogs, cats, and in some cases, exotic pets, pay a monthly premium for this service, with costs varying based on the age and breed of the animal, what medical costs are covered under the policy, what annual or per-procedure deductible the policy includes, and what percentage of treatment the customer will be reimbursed for by the company.
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While Firgrove Veterinary Clinic recommends pet insurance, our doctor's don't recommend any company in particular. It's important to do your research to choose the best option for your pet, your lifestyle, and your budget. Explore reputable insurance providers to find the perfect plan for your pet's unique needs.
Below are some of the many pet health insurance companies.
Trupanion
Trupanion is the pet insurance provider for State Farm. Trupanion operates a bit differently than most pet insurers. Instead of offering an annual deductible that you have to pay each year before you start getting reimbursed, in most states, Trupanion offers per-condition deductibles. Once you meet the deductible, Trupanion will fully cover that condition's treatment for life.
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Trupanion also has a few consumer-friendly features that some other insurers don't. For instance, if you're worried about saying yes to pricey treatment because you're unsure it'll be covered, you can contact Trupanion 24 hours a day for preapproval. Trupanion won't automatically increase your pet's premium just because they're another year older. Instead, premiums will change from time to time to reflect the cost of vet care for pets like yours in your area.
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Coverage options and availability may vary depending on where you live and the age and breed of your pet.
Pumpkin
Pumpkin was voted “Best for Comprehensive Coverage” by Business Insider. They offer a standard 90% reimbursement rate with a 10% multi-pet discount for each additional pet. Coverage can start as early as 8 weeks of age with no breed or upper age limits. There's a 14 day waiting period after sign up before you can claim for reimbursement.
Healthy Paws Pet Insurance
Healthy Paws was rated excellent with more than 1,600 reviews. They offer comprehensive illness and accident coverage with up to 90% payout rates (your premium rate choice for 70% - 90% payout). There are no caps on claim payouts - annual, lifetime, or per claim​. They do not offer wellness based plans. Coverage can start as early as 8 weeks of age with accidental plans discontinuing at 14 years of age.
Most claims processed within two days with direct vet payments possible. There's a 30-day money-back guarantee.
Fetch
The Fetch accident and illness policy is comprehensive, covering things like treatment for dental disease, alternative care, hereditary conditions and physical therapy. Unlike many insurers, Fetch will also pay for prescription supplements and cover boarding fees for your furry friend if you’re hospitalized.
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Adding Fetch Wellness to your policy can help you pay for preventive care expenses like annual checkups, vaccinations, dental cleaning and spay/neuter surgery.
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Fetch offers discounts for AARP members, veterans, active military and veterinary staff, among others.
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The minimum age for Fetch coverage is 6 weeks. There’s no maximum age.
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Plans available: Accident and illness, wellness.
Embrace Pet Insurance
Embrace offers its customers many ways to save. You’ll automatically get a 10% discount when you insure more than one pet. Active military members and veterans can get a 5% discount in every state but New York and Tennessee. The company is currently working on rolling out a healthy pet discount, too.
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Embrace has a wide range of deductibles and annual coverage limits to choose from. Its standard accident and illness plan includes chiropractic care, acupuncture, physiotherapy and other alternative therapies. It also pays exam fees for covered conditions and reimburses for behavioral treatments as long as a vet provides them.
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There’s typically a 180-day waiting period before Embrace will cover a dog’s orthopedic injuries, but you can reduce that to 14 days with a vet exam.
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The minimum age is 6 weeks. Pets up to age 14 are eligible for accident and illness coverage, which can be maintained throughout their lives. If you’re enrolling a pet for the first time at age 15 or above, it’s eligible only for accident coverage.
Plans available: Accident and illness, accident-only, wellness.
Spot Pet Insurance
Spot’s pet insurance plans are comprehensive, covering alternative treatments, behavioral therapies, dental illness, microchip implantation and diets prescribed to treat a covered condition.
The company offers a variety of ways to customize your policy, including many annual coverage limits to choose from. There’s even an unlimited option.
Its easy-to-understand waiting period is 14 days for everything, including both accidents and illnesses, with no exception for cruciate ligament issues. The company offers a 10% multipet discount.
Age restrictions: The minimum age is 8 weeks. There’s no upper age limit.
Plans available: Accident and illness, accident-only, wellness.
Why Pet Health Insurance?
1. Financial Protection:
Pet health emergencies can be costly. Insurance helps cover veterinary bills, ensuring your pet receives the best care without breaking the bank.
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2. Peace of Mind:
Unexpected illnesses or accidents can happen at any time. Insurance provides peace of mind, knowing that you're prepared for the unexpected.
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3. Comprehensive Coverage:
Most pet insurance plans cover a wide range of medical expenses, including surgeries, diagnostic tests, medications, and more.
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How Pet Health Insurance Works
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1. Choose a Plan:
Select a plan that aligns with your pet's needs and your budget. Plans often cover accidents, illnesses, and routine care.
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2. Enrollment:
Sign up for insurance when your pet is young and healthy to ensure the best coverage. Some plans may have waiting periods for specific conditions. Pay monthly premiums for coverage just as you do with your medical insurance.
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3. Visit Any Vet:
Most pet insurance plans allow you to visit any licensed veterinarian, giving you the flexibility to choose the best care for your pet.
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4. Submit Claims:
After veterinary visits, the client is responsible for paying the full invoice, then submits claims with invoices and receipts to their insurance company. Reimbursement is typically a straightforward process. Trupanion offers Direct Pay to participating veterinarians which means that you only pay for your portion out of pocket at time of checkout. Firgrove Veterinary Clinic accepts Trupanion Direct Pay. Healthy Paws also has a process for direct pay to the veterinarian.
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Types of Pet Health Insurance Coverage
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1. Accident-Only Plans:
Covers injuries resulting from accidents, such as broken bones, cuts, and ingestion of harmful substances.
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2. Illness Plans:
Addresses medical conditions like allergies, infections, and chronic illnesses.
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3. Comprehensive Plans:
Combines accident and illness coverage, offering the most extensive protection for your pet.
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4. Wellness Plans:
Provides coverage for routine veterinary care, vaccinations, and preventive treatments.
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Tips for Choosing the Right Plan
1. Evaluate Your Pet's Needs:
Consider your pet's breed, age, and any pre-existing conditions when choosing a plan.
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2. Compare Plans:
Research and compare different insurance providers to find the plan that best suits your pet and budget.
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3. Read the Fine Print:
Understand the terms and conditions, including deductibles, coverage limits, and exclusions. Some companies have annual limits and lifetime limits for payout. Some policies may have restrictions based on the breed of the pet, so it's important to read the fine print and ask about this to ensure you have the right coverage.
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Frequently Asked Questions (FAQs)
1. When is the best time to get pet insurance?
It's ideal to enroll your pet when they're young and healthy to maximize coverage. Most insurers will allow you to start a policy when your pet is as young as eight weeks old. Insuring your pet at a young age can allow for a broader range of coverage and lower premiums.
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2. Can I use any veterinarian with pet insurance?
Most plans allow you to choose any licensed veterinarian. Veterinarians don't process claims for you and therefore can take any insurance type. Not all veterinarians may be setup to accept direct pay from the insurance company.
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3. Are pre-existing conditions covered?
Typically, pre-existing conditions are not covered, so it's crucial to enroll early.
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4. What is the best pet insurance?
The best pet insurance varies based on individual needs, pet breed, age, and health conditions. Popular insurance options offer comprehensive coverage, including accident and illness policies, wellness plans, hereditary conditions coverage, and customizable deductibles and reimbursement rates.
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5. Is pet insurance expensive?
The cost of pet insurance can vary widely based on several factors, including the pet’s breed, age, and health condition, and the type of coverage chosen. On average, pet insurance can range from $10 to $100 per month. While it may seem like an additional cost, it’s important to consider the potential financial strain of paying out-of-pocket for unexpected veterinary expenses, which can far exceed the cost of monthly premiums in the event of severe illness or injury.
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6. Is pet insurance tax deductible?
Pet insurance is not typically tax deductible unless the pet is a certified service animal. Service animals’ expenses, including insurance, can be claimed as medical expenses. However, rules may vary, so it is good to consult with a tax professional for specific circumstances.
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7. Does pet insurance only cover cats and dogs?
Pet insurance is not limited to cats and dogs. Many insurance providers also offer coverage for a variety of other pets, including birds, rabbits, and exotic animals like reptiles. However, the coverage options and costs may vary significantly based on the provider and type of pet, so be sure to research providers thoroughly before buying a policy.
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