Your dog is your loyal companion and best friend, so you want to make sure that he is looked after if the worst happens. Dog insurancecan help to alleviate the expenses of veterinary treatments and costs if your pet has an accident or develops an illness. However, many pre-existing conditions, preventative treatments other common conditions are often not covered by dog insurance policies. Most plans cost upwards of $40, with insurance for older or larger dogs usually costing more. 

Keep reading to find out what you need to know about dog insurance. 

Dog insurance

Dog insurance is different from human medical insurance. Human health insurance companies usually pay for medical and hospital bills straight away, whereas pet insurers usually require the owner to pay for the costs initially and file a claim afterward. However, the structure of payment for dog insurance is similar to health insurance, with pet insurers enabling owners to choose their desired annual maximum, deductable, and reimbursement levels. 

Monthly premium

The amount that you pay to the insurance company each month is called the monthly premium. The cost will depend on the level of coverage that you choose for your dog and can range from $25 to $100 depending on your dog’s age, size, and individual needs. 

Annual deductible

The annual deductible denotes the amount you need to pay for a veterinary treatment before the policy applies. The options for the annual deductible usually range from $0 to $1000, depending on the policy you choose. The higher the deductible you choose, the more the monthly premium will cost. 

Reimbursement amount

The reimbursement amount is the percentage of the treatment cost that the insurer will pay after you have paid the deductible. 

Annual maximum

The maximum cost that your insurance company will offer toward veterinary bills every year is called the annual maximum. This amount usually ranges between $5000 and $15,000 depending on the policy. Some policies have an incident or lifetime maximum however, they are less common. 

Choosing a policy

When you are choosing the deductible, reimbursement amount and annual maximum it is important to decide how much you are willing to pay every month toward the cover. If you decide on the cover based on making the lowest payment possible, you will likely get a low amount pack in the event of an accident or illness. 

Thus, it is important to consider how much you want to pay every month as well as how much of a hit your savings could take in the event of a large veterinary bill. The main reason for insuring your dog is to reduce the potential amount of large expenses, so look for a plan that will sufficiently cover you for bigger costs. 

Coverage

Dog insurance will cover your dog for certain medical issues, but be aware that it will not cover every illness that your dog may develop. Usually, insurance companies do not provide coverage for dental diseases, pre-existing or hereditary conditions, behavioral problems, routine examinations, preventative care, grooming, or hip dysplasia. 

That insurers usually do not cover pre-existing conditions can be surprising, however, check beforehand whether your dog’s condition is covered by your chosen policy. 

To sum up

Making sure that your dog is sufficiently covered will take some of the stress out of a negative situation. Dog insurance will make sure that your dog gets all of the care that he needs in the event of an illness or injury. It is worth taking your time to research and compare different insurance companies to choose the right one for you and your pet.