Do you have a cute and smart fur baby at home? If your furry child is sick, it is the most worrying thing. Many pet owner must have thought about how to protect your pet’s health when you have a pet in the United States. Tiger Tiger has prepared a pet insurance strategy for you, including what pet insurance covers, the price of pet insurance, pet insurance purchase considerations, and other issues of greatest concern to all pet owner. I hope everyone’s furry children are healthy and well~!

The Importance of Pet Insurance

Healthcare has always been a significant expense in the United States, and pet healthcare even more so. The base cost of a single veterinary visit is about $200 for dogs and $160 for cats. This price can even double in the case of emergencies such as sudden illnesses or accidental injuries. In addition, as pets age, the cost of care and the likelihood of illness increases, and treatment for some major illnesses can even run into the tens of thousands of dollars. Such situations are undoubtedly financially burdensome for owners. Quality pet insurance can save you from having to pay huge out-of-pocket expenses - which also means you won’t have to make the heartbreaking choice of being forced to say goodbye to your pet because you can’t afford it.

Pet Insurance Categories

In the United States, there are two types of programs we can purchase for our pets, Wellness Plan and Pet Insurance.

Wellness Plan：

The Wellness Plan is less of a true “pet insurance” policy, as it applies to expected veterinary expenses and routine health care, and usually includes waived office visits, access to routine vaccinations, comprehensive pet checkups, preventative care, and spaying/neutering, etc., which is suitable for routine health maintenance.

Pet Insurance：

Pet Insurance is available to cover veterinary expenses for the diagnosis and treatment of unforeseen conditions such as injuries and illnesses. Each pet insurance company offers a different program, but it generally covers (1) chronic diseases such as diabetes, osteoarthritis, etc.; (2) hereditary diseases; (3) major accidental medical expenses; and (4) some health care. These policies do not cover routine preventive checkups, routine medical checkups and vaccine costs.

Small pets that are usually healthy and undergo regular medical checkups can be prioritized to buy a Wellness Plan only, which can save a lot of insurance premiums. If the pet has been injured in the past, or has a long-term disease that requires regular checkups and treatment, it is better to buy both plans to prevent sky-high pet medical bills. Tiger suggests that owners can choose a Wellness Plan for their puppies and kittens first, and then switch to Insurance after the vaccines are administered and the spay/neuter surgery is done and the pet grows up slowly. However, we still need to choose according to the actual situation of our own pets.

Cat insurance and dog insurance coverage terms are basically similar, but relatively speaking, the dog’s insurance will be more expensive than the cat’s, because the veterinarian treating the dog will charge a little higher. In the U.S., the average cost of dog insurance is about $18 per month (accident only) or about $50 per month (accident and sickness); the average cost of cat insurance is about $11 per month (accident only) or about $28 per month (accident and sickness).

When should I buy pet insurance?

When insuring your pet, the younger the pet, the more cost-effective the insurance will be. Often insurance will not cover illnesses that you have had before your pet’s insurance kicks in. Once you have had a certain illness and then buy it, no insurance will reimburse you and you will have to pay out of pocket for a recurrence. That’s why it’s better to buy insurance as early as possible! Accidents or illnesses can happen at any time, so huge vet bills are easy to come by. Most insurance plans from pet insurance companies in the U.S. currently reimburse 70% to 100% of expenses. If your pet is prone to serious and unexpected health problems, it is worthwhile and necessary to purchase pet insurance.

Factors affecting the price of pet insurance

There are several factors that affect the price of pet insurance:

  • Age: Insurance premiums for older pets are usually more expensive because they are more prone to health problems.
  • Gender: Male pets usually cost more to insure.
  • Breed: Cats are usually cheaper to insure than dogs; breeds that are more prone to health problems will be more expensive to insure.
  • Where to live: those who live in areas where veterinary care is more expensive will need to pay more for pet insurance plans.
  • Working status of pets: Some pet insurance companies charge more for coverage for working pets.
  • Coverage options: plans that cover more health conditions will cost more than plans with limited protection.
  • ANNUAL MAXIMUM: Most pet insurance plans have an annual maximum that limits how much the company will pay for pet care. Choosing a higher annual maximum will increase premiums.
  • Reimbursement rate: most pet insurance plans reimburse the insured anywhere from 70% to 90% of the cost of covered treatments. Choosing a higher reimbursement rate will increase premiums.
  • Deductible: choosing a lower deductible will increase the premium for your pet insurance.

Pet owners looking to reduce the cost of pet insurance should keep the following in mind:

  • Shop around: every insurance company weighs risk differently, which is why they all give different quotes. The only way to know which one offers the most affordable price for a given pet is to set aside some time to get quotes and compare them.
  • Take advantage of discounts: pet owners who believe they qualify for any of these discounts should look for pet insurance companies that offer them.
  • Choose a lower reimbursement percentage: choosing a lower reimbursement percentage will reduce the cost of premiums, but will increase the owner’s out-of-pocket costs in the event of a claim.
  • Choose a higher deductible: raising your deductible will also lower your monthly premiums, but at the same time, owners must be prepared to pay higher out-of-pocket costs if their pet gets sick.

Things to consider when buying pet insurance

Buying pet insurance is just like buying any other insurance, and there are a few things you need to keep in mind:

  • Carefully review each clause to confirm whether the insurance will cover the pet’s needed therapy services and whether the deductible is single or annual.
  • Before you make a decision to buy, you should compare the prices and pay more attention to the after-sales service of the insurance company (especially the efficiency of claims payment and communication).

The pet insurance plans of different insurance companies in the United States usually have a Waiting Period of 14 days to 1 month, during which time the bills incurred during this period or before will not be reimbursed, and belongs to the pre-existing condition, and will not be reimbursed for future illnesses that are the same as that condition. Therefore, you should pay attention to the length of the waiting period when purchasing insurance.

Pet Insurance in USA

When purchasing pet insurance, you must find a reliable insurance company, because a reliable insurance company can provide the right coverage and smooth claim service, etc. Currently, there are several reputable pet insurance companies in the U.S.: Pumpkin, Spot, Lemonade, Trupanion, Embrace Pet Insurance, Pets Best, Healthy Paws, Nationwide, Figo, Fetch by The Dodo and so on. . Each pet insurance company has its own pet insurance features. Tiger recommends that when purchasing a pet insurance policy, you carefully compare the prices charged by each type of insurance, the details of the regulations, and the feedback from customers to choose the most suitable insurance for your pet.